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Powerball Jackpot Reaches $1.6B, Breaking Lottery Report

Posted on: November 4, 2022, 02:10h. 

Final up to date on: November 4, 2022, 02:22h.

The Powerball jackpot that began rolling three months in the past will grow to be the most important lottery prize ever received– if somebody wins the grand prize on Saturday, November 5. Sport officers elevated the Powerball jackpot estimate Friday morning to a document $1.6 billion.

Powerball jackpot lottery odds
A Powerball participant in Florida exhibits off their ticket slips. The Powerball jackpot for the November 5 draw is a record-shattering $1.6 billion. (Picture: Getty)

The possibility of a single ticket hitting this jackpot is barely about 1 in 292 million, sport officers report. And odds like which can be the primary motive Saturday’s drawing will presumably be the fortieth with no jackpot winner since August 3, when a ticket in Pennsylvania matched all six numbers drawn for $206.9 million.

If nobody wins Saturday’s jackpot, it’s going to tie the sport document for the variety of consecutive drawings with no grand prize winner. The longest jackpot run in Powerball historical past ended on Oct. 4, 2021, when a ticket in California received a $699.8 million jackpot on the forty first drawing.

That $1.6B Wouldn’t ALL be Yours

After all, that $1.6 billion is pretax cash, as any accountant will level out. (It’s additionally pre-accountant, for that matter.) Moreover, you’ll get that pretax quantity as an annuity unfold over three many years. The upfront money possibility — which most jackpot winners select — for this drawing is $782.4 million. And that’s nonetheless pretax and pre-accountant.

Nowadays, the annuity possibility is larger than it beforehand was, relative to the money possibility, as a result of larger rates of interest that facilitate bigger annuitized prizes, in keeping with the Multi-State Lottery Affiliation, which runs Powerball.

Saturday’s estimated jackpot has surpassed the world-record quantity beforehand set by Powerball in 2016, when tickets in California, Florida, and Tennessee received a $1.586 billion jackpot.

The subsequent Powerball drawing will happen on the Florida Lottery draw studio in Tallahassee at 10:59 p.m. ET on Saturday, November 5. Ticket sale cut-off occasions fluctuate by jurisdiction, however sometimes happen 1-2 hours earlier than the scheduled drawing.

Powerball tickets are $2 per play. Tickets are bought in 45 states, the District of Columbia, Puerto Rico, and the US Virgin Islands.

Prime 10 Powerball Jackpots

  1. $1.6B (est.) – Nov. 5, 2022
  2. $1.586B – Jan. 13, 2016 – CA, FL, TN
  3. $768.4M – March 27, 2019 – WI
  4. $758.7M – Aug. 23, 2017 – MA
  5. $731.1M – Jan. 20, 2021 – MD
  6. $699.8M – Oct. 4, 2021 – CA
  7. $687.8M – Oct. 27, 2018 – IA, NY
  8. $632.6M – Jan. 5, 2022 – CA, WI
  9. $590.5M – Might 18, 2013 – FL
  10. $587.5M– Nov. 28, 2012 – AZ, MO


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