The Powerball jackpot is now estimated at $1.6 billion, making it one of the largest lottery prizes in U.S. history, Powerball officials said Sunday.
No ticket on Saturday matched all six winning numbers – 4, 5, 28, 52, 69 for the white ball and 20 for the red Powerball. That creates the fifth-largest jackpot in the United States for Monday’s drawing, according to a Powerball press release.
The largest jackpot in the United States in 2022 is $2.04 billion. The winner purchased the ticket in California and chose to pay out a lump sum of $997.6 million.
According to Powerball statistics, the odds of winning Monday’s jackpot are 1 in 292.2 million, making it the fourth largest jackpot in Powerball history.
Winners can choose to receive a one-time prize of an estimated $735.3 million or an annuity prize of an estimated $1.6 billion. Both prizes are pre-tax.
The annuity option offers one immediate payment, followed by 29 annual payments, increasing by 5% each year, Powerball said.
Powerball is available in 45 states, Washington, D.C., Puerto Rico and the U.S. Virgin Islands. It is overseen by the Multi-State Lottery Association, a nonprofit organization composed of state lotteries. States use ticket revenue to support public education and other services.