Powerball Grows to $1.1 Billion

The billion-dollar Powerball jackpot is on the rise. With no winner Saturday night, the jackpot has reached an estimated $1.1 billion for Monday night’s drawing, with an estimated cash value of $503.4 million.

Monday’s jackpot ranks as the sixth largest in Powerball history.

Although there was no jackpot winner, U.S. lotteries are reminding players to check their tickets carefully, as many may still have won cash prizes.

Nationwide, seven tickets won cash prizes worth $1 million or more. Five tickets, sold in California, Florida, Michigan, New Jersey, and Virginia, matched all five white balls to win $1 million prizes.

Two tickets, sold in North Carolina and Pennsylvania, matched all five white balls and, because the players added the Power Play option for $1 more, the $1 million prize increased to $2 million for each ticket.

The drawing also produced 49 tickets that won $50,000 prizes and 12 tickets that won $100,000 prizes.

Monday’s Powerball drawing will be the 43rd in the current jackpot run, setting a game record for most consecutive drawings in a single jackpot cycle. The Powerball jackpot was last won on Sept. 6 by two tickets in Missouri and Texas that split a $1.787 billion prize.

If a player wins Monday’s jackpot, they will have the choice between an annuitized prize estimated at $1.1 billion or a lump sum payment estimated at $503.4 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-percent each year.

Powerball tickets are $2 per play. Tickets are sold in 45 states, the District of Columbia, Puerto Rico and the U.S. Virgin Islands.

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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