Powerball Jackpot Rises to $1.2 Billion

The Powerball drawing on Wednesday, November 2nd will offer a jackpot worth $1.2 billion - the second-largest prize that has ever been available on the lottery.

A $1 billion jackpot was advertised for Monday night, but in the end it fell just short at $999 million. The Halloween draw produced plenty of treats as more than 5.4 million players picked up prizes, but there were no tickets that matched all the numbers. Take a look at all the Powerball Payouts.

The jackpot has now been rising for three months, having last been won on August 3rd when a player from Pennsylvania landed $206 million.

Biggest Powerball Jackpots

The only time that the jackpot has ever been higher was back in January 2016, when three ticket holders split $1.58 billion. The winners were revealed to be John and Lisa Robinson from Munford in Tennessee, David Kaltschmidt and Maureen Smith from Melbourne Beach in Florida, and Marvin and Mae Acosta from Chino Hills, California.

The biggest win to have gone to a single player has been $768 million. Manuel Franco, from Milwaukee in Wisconsin, set this record in March 2019. He opted for the lump sum payout of $477 million and declared that he wanted to ‘help out the world’.

If there is one winning ticket on Wednesday, the lucky player will land the largest individual prize in the history of the game. One or two more rollovers and the jackpot could even surpass the $1.58 billion from 2016.

The cash option for the current jackpot is $596.7 million. It’s a significantly lower sum than the $1.2 billion annuity figure, but most winners have traditionally taken the lump sum as it gives their bank balance an immediate boost, while it may also be possible to make more money in the long run if it is invested wisely.

Check out a Jackpot Analysis to find out how much the grand prize would be worth after taxes in your state, depending on whether you went for the cash option or the annuity.

You can play Powerball in 45 states, plus the jurisdictions of Washington D.C., the U.S. Virgin Islands and Puerto Rico. Make sure to get your tickets in on time and check out the winning numbers right after the draw to find out what has happened.

Published: Tuesday, November 1, 2022