On Christmas Eve, the U.S. Powerball jackpot is set to reach an estimated $1.7 billion, marking it as the fourth largest jackpot in the history of both Powerball and U.S. lotteries. This substantial prize comes after the previous drawing on Monday night failed to produce any winning tickets for the $1.6 billion jackpot.
As ticket sales continue to surge leading up to the Wednesday night drawing, the jackpot could potentially increase even further. The winning numbers from the last drawing were 3, 18, 36, 41, and 54, with a Powerball of 7. Should a winner emerge on Wednesday, the cash option for the grand prize would stand at approximately $781.3 million.
Notably, the Powerball jackpot has been won once on Christmas Eve, back in 2011, and four times on Christmas Day. Since its inception in 1992, Powerball has seen its jackpot reach unprecedented heights.
This upcoming drawing will represent the 47th in the current jackpot cycle, a record-setting number for the game. To secure the jackpot, a ticket must match all five white balls along with the red Powerball number drawn. Winners have the option of receiving their prize as a lump sum or through an annuity, which consists of an initial payment followed by 29 annual payments that increase by 5% each year. Both payout options are calculated before taxes.
The last time a Powerball jackpot was won was on September 6 in Missouri and Texas, where two tickets shared a staggering $1.787 billion prize. This marks the second occurrence in Powerball’s history where back-to-back jackpots have surpassed the $1 billion mark.
In 2022, a record-setting jackpot of $2.04 billion was claimed by a single ticket sold in Altadena, California, making it the largest in both Powerball and lottery history. The odds of winning the grand prize stand at 1 in 292.2 million, indicating the increasingly challenging nature of the game as jackpots have soared in size over the past decade.
Powerball tickets are available for $2 each and can be purchased in 45 states, the District of Columbia, Puerto Rico, and the U.S. Virgin Islands. Drawings occur every Monday, Wednesday, and Saturday at 11 p.m. ET.
