Powerball jumps to $1.8 billion, second-largest U.S. lottery jackpot ever

• It's likely the jackpot will be higher for the Sept. 6 drawing, as ticket sales surge heading into the weekend.

State of play: If nobody wins Saturday, Monday's drawing could set a new U.S. record.

• Saturday's Powerball drawing is the 42nd since the jackpot was last won in California on May 31.

Flashback: The world's largest-ever lottery prize was the $2.04 billion Powerball jackpot that one ticket purchased in California won on Nov. 7, 2022.

Powerball jackpot cash value

The big picture: The jackpot has an estimated cash value of $826.4 million if taken as a lump sum, Powerball said Friday.

• Both prize options are before taxes.

Powerball jackpot annuity option versus cash

How it works: Powerball jackpot winners can choose an "annuity option" or a lump-sum cash payout.

• The annuity option is an annual payout over 30 years, with the sum paid out rising by 5% each year.
• The jackpot size is not the amount in the prize pool, but rather the size of all those 30 payments added together.

Powerball drawing time

Powerball drawings are held on Mondays, Wednesdays and Saturdays.

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.

Does buying more Powerball tickets help odds?

Zoom out: If you buy tickets with different numbers, buying more tickets does increase your odds, according to Tim Chartier, a Davidson College math professor.

• So if you buy five tickets with different numbers, you are five times more likely to win than buying just one ticket, Chartier said.
• The professor suggests picking random numbers will help odds versus favorite numbers or birthdays.

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