Powerball Jackpot Tips Scale at $1.04 Billion for Tonight’s Drawing

October 3, 2023 | Lottery News

First-time ever back-to-back Powerball jackpot runs have produced billion dollar grand prizes!

JOHNSTON, Iowa (October 2, 2023) – The Powerball® jackpot has tipped the billion dollar mark and now stands at an estimated $1.04 billion for tonight’s drawing. The jackpot has an estimated cash value of $478.2 million.

This marks the first time in Powerball game history that back-to-back jackpot cycles have generated billion dollar grand prizes. The Powerball jackpot was previously won on July 19 in California, when a single ticket won a jackpot worth $1.08 billion. Since then, there have been 31 consecutive drawings with no grand prize winner leading up to tonight’s drawing for the estimated $1.04 billion jackpot.

The jackpot ranks as the fourth largest in the Powerball game and ninth largest among U.S. lottery jackpots.

“With back-to-back billion-dollar jackpots within just a few months, this is truly an exciting accomplishment for the Powerball game,” said Drew Svitko, Powerball Product Group Chair and Pennsylvania Lottery Executive Director. “Every ticket sold during this jackpot run, which began on July 22, is staying in local communities to benefit good causes supported by U.S. lotteries. In my home state, proceeds fund care for seniors.

“As we await tonight’s winning numbers, we would like to remind our players to play responsibly. It only takes one ticket to win this billion-dollar jackpot or any of Powerball’s other cash prizes.”

Tonight’s Powerball drawing will be held at the Florida Lottery draw studio in Tallahassee at 10:59 p.m. EST. The drawing will be broadcast live by select carrier stations across the country. The drawing will also be live streamed on Powerball.com.

Ticket sales cut-off times vary by jurisdiction but typically occur 1-2 hours before the scheduled drawing. Players should check with their local lottery for its specific sales-cut off time.

If a player wins the jackpot in tonight’s drawing, they will have the choice between an annuitized prize worth an estimated $1.04 billion or a lump sum payment estimated at $478.2 million. Both prize options are before taxes. If the winner selects the annuity option, they will receive one immediate payment followed by 29 annual payments that increase by 5% each year.

The Powerball jackpot last rolled Saturday night after no ticket matched all six numbers drawn – white balls 19, 30, 37, 44, 46 and red Powerball 22. The Power Play® multiplier was 2X.

The Saturday drawing produced more than 2.5 million winning tickets across the country, including five tickets (FL (2), MD, MI, PA) that matched all five white balls to win $1 million prizes. Two other tickets, sold in Indiana and North Carolina, matched all five white balls and won $2 million prizes by including the prize multiplier feature, Power Play, for an additional $1 per play. Other big wins from Saturday night include 55 tickets that won $50,000 prizes and nine tickets that won $100,000 prizes.

Powerball tickets are $2 per play. Tickets are sold in 45 states, the District of Columbia, Puerto Rico and the U.S. Virgin Islands. More than half of all proceeds from the sale of a Powerball ticket remain in the jurisdiction where the ticket was sold. Powerball drawings are broadcast live every Monday, Wednesday and Saturday at 10:59 p.m. EST from the Florida Lottery draw studio in Tallahassee. Powerball drawings are also live streamed on Powerball.com.

The overall odds of winning a prize are 1 in 24.9. The odds of winning the jackpot are 1 in 292.2 million.

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