After another night of no winning Powerball ticket for the jackpot, it has ballooned to an estimated $1.20 billion after Monday night’s drawing, according to powerball.com. The estimated cash value for a pot this size? $551.7 million.
This Powerball jackpot has now climbed to the third-highest jackpot in the game’s history and ranks among the top 10 payouts in lottery history. This is also now the fourth lottery jackpot to hit more than $1 billion in 2023.
The last Powerball jackpot winner was in July and hit for $1.08 billion.
When is the next Powerball drawing?
The next drawing for the Powerball jackpot is Wednesday, Oct. 4 at 10:59 p.m. ET. It now sits at an estimated $1.20 billion with a cash option of $551.7 million.
Drawings are held three times per week at approximately 10:59 p.m. ET every Monday, Wednesday, and Saturday.
More than 2.7 million winning tickets across the country ended up with some kind of payout. There were also two tickets purchased in Delaware and Michigan that matched all five numbers except for the Powerball worth $1 million. Another two tickets sold in New York and South Carolina won for $2 million.
How to play:How do you play Powerball? A beginner’s guide to Powerball rules and potential prizes.
How often does the lottery hit $1 billion or more?
In the last five years, there have been eight jackpots between Mega Millions and Powerball that have gone over the $1 billion mark. And three of those happened in 2023.
The first came in January with a $1.53 billion Mega Millions winner. Next, a $1.08 billion Powerball jackpot in July. The latest was a $1.63 billion Mega Million jackpot in August.
The highest lottery jackpot came in November 2022 at $2.04 billion. It was the second jackpot over $1 billion that year. Before that the only other times a jackpot hit over a billion was in 2021, 2018 and 2016.