Powerball jackpot up to $1.6 billion, now largest lottery prize in history
DES MOINES, Iowa - Strong sales boosted a Powerball jackpot to an estimated $1.6 billion on Friday, making it the largest lottery prize in history.
A drawing will be held Saturday night for the Powerball prize, which hasn't been won in more than three months. That string of 39 consecutive drawings without a winner is a reflection of the tough odds of winning a jackpot, at 1 in 292.2 million.
🚨 BREAKING NEWS 🚨 THE JACKPOT HAS JUMPED to the Biggest. Jackpot. Ever. #Powerball has reached to a whopping $1.6 BILLION. You do NOT want to miss this chance to win a world breaking jackpot. #JackpotAlert #PlayResposibly #PlayForBillions #CALottery pic.twitter.com/hp5opBnam8
— California Lottery (@calottery) November 4, 2022
The advertised jackpot is the prize for a winner who chooses an annuity, paid annually over 29 years. Almost all winners instead opt for the cash prize, which for Saturday night's drawing would be an estimated $782.4 million.
The new jackpot tops the previous record prize of $1.586 billion won in 2016 by three Powerball players in California, Florida and Tennessee.
Powerball is played in 45 states, as well as Washington, D.C., Puerto Rico and the U.S. Virgin Islands.