Powerball jackpot jumps to $1.6 billion for next drawing
MIAMI - With anticipation building and thousands upon thousands of tickets being sold, the jackpot for Saturday night's Powerball drawing has risen.
On Friday, it jumped from $1.5 billion to $1.6 billion.
It's the second-largest jackpot in Powerball history. The largest Powerball jackpot was $1.586 billion, which was won on January 13, 2016.
If someone hits it big, they can either take the winnings in a one-time lump sum payment, approximately $782.4 million, or as an annuity. That option pays out the full jackpot amount over roughly 30 years. All of that would be before taxes.
There have been 38 consecutive Powerball drawings since August with no big winner. While the overall odds of winning any number of the Powerball prizes are 1 in 24.9, the odds of winning the Powerball jackpot are 1 in 292.2 million, according to the organization.
Powerball jackpots have been won five times so far this year.
Tickets cost $2, and drawings are each Monday, Wednesday, and Saturday.
You can watch the drawing during CBS4 News at 11 or on CBSMiami.com.
CBS4 is your official Florida Lottery station.
