The latest Powerball jackpot has become the 10th largest ever, with an estimated prize of $750 million and a cash value of $338.6 million.
The next drawing is Monday night and will be the 37th drawing since the jackpot was last won May 31 in California, according to a Powerball news release. The odds of winning the jackpot are 1 in 292.2 million.
“The excitement of playing for a colossal Powerball jackpot is back!” Matt Strawn, Powerball Product Group Chair and Iowa Lottery chief executive, said in a news release. “It only takes one $2 Powerball ticket to win Monday’s jackpot, and a portion of that sale will go directly to supporting programs and services that benefit local communities.”
Even though no one had all six numbers from the last Powerball drawing, two tickets sold in New York and Maine matched five numbers and won $1 million, according to the release. A third winner in South Dakota also matched five numbers, plus the Power Play option for $1 more, doubling the prize to $2 million.
If someone wins Monday’s jackpot, they can choose between periodic payments totaling $750 million or a lump sum payment estimated at $338.6 million, according to the release. If the winner picks the first option, they’ll get one payment followed by 29 annual payments that increase by 5% every year.
The most recent Powerball jackpot winner was announced in June, when a lucky player bought a Powerball ticket worth $204.5 million that was sold at a 7-Eleven on Woodman Avenue in Arleta.
Two out of the four Powerball jackpot winners this year have been from Southern California. In March, someone bought a ticket worth $515 million in Anaheim.
The other two Powerball winners were in January, when a player in Oregon bought a ticket worth $328.5 million, and in April, when a winner in Kentucky purchased a ticket worth $167.3 million.
The highest ever Powerball jackpots were both won in California — in Nov. 2022 when Edwin Castor of Altadena purchased a ticket worth $2.04 billion and in Oct. 2023, when a group of winners bought a ticket valued at $1.765 billion.
Powerball tickets are sold in 45 states, Washington D.C., Puerto Rico and the U.S. Virgin Islands, according to the release. The drawings are broadcast every Monday, Wednesday and Saturday and live streamed on Powerball.com.
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