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Powerball Jackpot Hits $700 Million

Powerball Jackpot Hits $700 Million

The sixth-largest Powerball jackpot in history will be up for grabs on Saturday night after it rolled over to reach $700 million. Nobody has won the grand prize since November 19th.

The jackpot has been building steadily for the past two and a half months, and $646 million was on offer in the latest draw on Wednesday.

Two players - one from Florida and one from North Carolina - matched five numbers to win $1 million each. Another ticket holder, from New York, had added the Power Play option so their payout was doubled to $2 million. There were also more than 1.2 million other winning entries, but nobody matched the full set of numbers.

Ticket sales are set to go from strength to strength from now on until the jackpot is won, leading to bigger jumps between draws.

Cash or Annuity?

The estimated $700 million jackpot for Saturday’s drawing carries a cash value of $375.7 million. A big winner will have to decide whether to take the money as a lump sum or an annuity.

Depending on where the jackpot is eventually won, the lucky ticket holder may also have the right to remain anonymous if they wish. Claiming through a legal trust may be an option in some states to help stay private, otherwise the winner will be compelled to go public.

If the jackpot rolls again, it may not be long before it hits the $1 billion mark yet again.

The jackpot has only reached 10 figures on two previous occasions. It first happened in January 2016, when three players split $1.58 billion. This remained the record until last November, when the jackpot crossed $2 billion.

A ticket holder from California was the sole winner, landing a prize worth $2.04 billion. They have yet to claim the money.

If you are hoping to follow in their footsteps and become the next big winner, you will need to consider how you choose your numbers. You may want to use a random set, or perhaps base your selections on statistics.

Make sure to take part before Saturday’s draw, then keep an eye on the Numbers page afterwards to see the results as soon as they are available.

Page Last Updated: 2/2/2023 4:22:30 AM ET