Powerball grows to highest jackpot of the year

The Powerball jackpot has surged to $856 million, marking the largest total of the year for the lottery. For those opting for a lump sum payout, the amount stands at $370.7 million before taxes. This significant sum places Saturday's drawing as the eighth-largest Powerball jackpot of all time. To enter the top seven, the jackpot would need to surpass the $1 billion mark. When considering Mega Millions jackpots as well, Saturday's drawing ranks as the 16th largest in U.S. history. "Entering the top 10 largest Powerball jackpots is when we historically see a lot of players join in the game," said Stephen Durrell, Powerball Product Group chair and Kansas Lottery executive director. The largest Powerball jackpot, and the largest lottery jackpot overall, was a single $2.04 billion ticket sold in California in November 2022. However, no jackpot has ever exceeded $1 billion for a lump sum payment. Even the record-breaking 2022 win was valued at "only" $997.6 million for the lump sum. A new aspect of this jackpot is the inclusion of players from the United Kingdom, which began selling Powerball tickets on July 21. The addition of international players is expected to accelerate jackpot growth if no winner emerges. The jackpot was last won on May 2, and there have been 41 subsequent drawings without a top prize winner. Despite the lack of a grand prize winner, there have been smaller victories, including a $1 million winner in Ohio for matching all five white balls in a recent drawing. The drawing is scheduled for Saturday at 10:59 p.m. ET, with odds of winning the top prize at a daunting 1 in 292.2 million.

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Entering the top 10 largest Powerball jackpots is when we historically see a lot of players join in the game.