The Powerball jackpot has picked up new steam since the start of the week. The jackpot has climbed to an estimated $550 million for the next Powerball drawing on Wednesday, Sept 13. The jackpot has a cash value of $266 million.
The Powerball jackpot rolled Monday night after no ticket matched all six numbers drawn – white balls 9, 25, 27, 53, 66 and red Powerball 5. The Power Play® multiplier was 2X.
The Monday drawing produced more than 745-thousand winning tickets across the country, including one ticket in Michigan that matched all five white balls to win a $1 million prize.
The Powerball jackpot was previously hit in the July 19 drawing when a ticket in California won a prize worth $1.08 billion, the third-largest Powerball jackpot ever won. Since then, there have been 23 consecutive drawing without a jackpot winner.
The latest jackpot run has produced dozens of winning tickets worth $1 million or more. Twenty-four tickets have matched all five white balls to win $1 million prizes. Seven tickets have won $2 million prizes by matching all five white balls and including the Power Play® prize multiplier feature on their ticket for an additional $1 per play.
If a player wins the jackpot on Wednesday night, they will have the choice between an annuitized prize worth an estimated $550 million or a lump sum payment estimated at $266 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.
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.
