Nov 4, 2022 - Economy & Business

Powerball lottery jackpot grows to world record $1.6 billion

Powerball and lottery ticket slips in a display

Saturday's Powerball jackpot is an estimated $1.6 billion, the largest in the game's 30-year history. Photo: Lokman Vural Elibol/Anadolu Agency via Getty Images

The Powerball jackpot for Saturday's drawing has now grown to a record $1.6 billion, the nation and world's largest lottery prize ever.

Driving the news: Saturday's jackpot exceeds the record $1.586 billion jackpot won by three Powerball players in 2016 and is up from the original $1.5 billion estimate on Thursday.

  • The cash option for the Nov. 5 drawing is now an estimated $782.4 million, according to the Powerball website.

What they're saying: “We are witnessing history in the making with this $1.6 billion jackpot," Drew Svitko, Powerball product group chair and Pennsylvania lottery executive director, in a statement Friday.

  • "What’s also exciting is that this run has already created millions of winners, including nearly 100 players who have won prizes worth $1 million or more,” Svitko said.
  • “There’s a lot of anticipation and excitement leading up to Saturday’s drawing,” Svitko said. “We would like to remind players that it only takes one ticket to win. Please, play responsibly.”

Flashback: Aug. 3 was the last time the Powerball jackpot was won and the jackpot has rolled 39 times since then.

Meanwhile, if no one wins the jackpot in Saturday’s drawing, Powerball officials said it will tie the game record for the number of consecutive drawings without a grand prize winner.

Powerball drawing time and how to watch live

Saturday's drawing is at 10:59pm ET and will be broadcast on the Powerball website and television stations across the country from the Florida Lottery draw studio in Tallahassee.

  • Drawings are held on Mondays, Wednesdays and Saturdays.
Powerball game: How to play

State of play: Lottery players can pick six numbers from two separate pools of numbers — five different numbers from 1 to 69 (the white balls) and one number from 1 to 26 for the red Powerball.

  • "Quick Pick" or "Easy Pick" tickets can also be purchased where numbers are selected automatically.
Powerball ticket price

Powerball tickets are $2 per play but for an extra $1 per play you can add the Power Play feature to "multiply non-jackpot prizes by 2, 3, 4, 5 or 10 times."

Powerball odds vs. Mega Millions

Between the lines: Powerball said that because numbers are drawn from two sets of numbers, the odds of winning a prize are calculated by combining the odds for both sets of numbers for all prize levels.

  • The overall odds of winning a prize are 1 in 24.9.

Yes, but: The odds of winning the Powerball jackpot are 1 in 292.2 million.

  • Mega Millions' jackpot odds are 1 in 303 million.
Powerball tickets sold in these states

Powerball tickets are sold in 45 states, Washington, D.C., Puerto Rico and the U.S. Virgin Islands.

  • Alabama, Alaska, Hawaii, Nevada and Utah do not participate in the lottery.

Editor's note: This story has been updated with additional details throughout.

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