The drawing for the third largest Powerball jackpot is set for Saturday night. The jackpot has grown to an estimated $875 million for the next drawing on Saturday, July 15. The jackpot has an estimated cash value of $441.9 million.
“In the last week, we’ve had seven Powerball players who have won at least $1 million, and five million other players who won other cash prizes. Please, remember to play responsibly. It only takes one ticket to win, said Drew Svitko, Powerball Product Group Chair and Pennsylvania Lottery Director. ”
The Powerball drawing will be held at the Florida Lottery draw studio in Tallahassee at approximately 10:59 p.m. ET on Saturday. The drawing will be broadcast by select carrier TV stations and live streamed on Powerball.com. Ticket sale cut-off times vary by jurisdiction, but typically occur 1-2 hours before the scheduled draw time.
If a player wins the jackpot on Saturday night, they will have the choice between an annuitized prize worth an estimated $875 million or a lump sum payment estimated at $441.9 million. Both prize options are before taxes. If the winner selects the annuity option, they will receive one immediate payment followed by 29 annual payments that increase by 5% each year.
The Powerball jackpot was last hit in the April 19, 2023 drawing, when a ticket in Ohio matched all five white balls and the red Powerball to win a grand prize worth $252.6 million. Since then, there have been 36 consecutive drawings without a jackpot winner.
The Powerball jackpot currently ranks as the seventh largest U.S. lottery jackpot and third largest Powerball jackpot, only behind the world record $2.04 billion Powerball jackpot won last year, and the $1.586 billion Powerball jackpot won in 2016.
The Powerball jackpot rolled Wednesday night after no ticket matched all six numbers drawn – white balls 23, 35, 45, 66, 67 and red Powerball 20. The Power Play® multiplier was 3X.
Even though the jackpot was not hit, lotteries are urging players to check their tickets for one of the nine ways to win. The Wednesday drawing produced more than 1.8 million winning tickets nationwide, with players winning lower-tier cash prizes worth a combined $16.5 million.
Top-winning tickets in the Wednesday, July 12 drawing include two tickets, sold in Florida and Indiana, that matched all five white balls to win $1 million prizes. There were also 36 tickets that matched four of the five white balls and the red Powerball. Twenty-six of the tickets won $50,000 prizes. The other ten tickets included the Power Play option for an additional $1 per play and multiplied the $50,000 prize by three to $150,000.
Powerball tickets are $2 per play. Tickets are sold in 45 states, the District of Columbia, Puerto Rico and the U.S. Virgin Islands. More than half of all proceeds from the sale of a Powerball ticket remain in the jurisdiction where the ticket was sold. Powerball drawings are broadcast live every Monday, Wednesday and Saturday at 10:59 p.m. EST from the Florida Lottery draw studio in Tallahassee. Powerball drawings are also live streamed on Powerball.com.
The overall odds of winning a prize are 1 in 24.9. The odds of winning the jackpot are 1 in 292.2 million.
Top 10 Powerball Jackpots
- $2.04 Billion – Nov. 7, 2022 – CA
- $1.586 Billion – Jan. 13, 2016 – CA, FL, TN
- $875 Million (est.) – July 15, 2023
- $768.4 Million – March 27, 2019 – WI
- $758.7 Million – Aug. 23, 2017 – MA
- $754.6 Million – Feb. 6, 2023 – WA
- $731.1 Million – Jan. 20, 2021 – MD
- $699.8 Million – Oct. 4, 2021 – CA
- $687.8 Million – Oct. 27, 2018 – IA, NY
- $632.6 Million – Jan. 5, 2022 – CA, WI