5 things to know before Saturday's Powerball drawing.
The cash option is $782.4 million
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Here are five things everyone should know about Saturday's estimated $1.6 billion dollar Powerball jackpot.
1. The jackpot is the world's largest lotto prize ever offered. Three winners in California, Tennessee and Florida split a $1.586 billion Powerball jackpot on Jan. 13, 2016. The largest Mega Millions jackpot was $1.537 billion, matching a ticket sold in South Carolina on Oct. 23, 2018.
2. If no one wins the jackpot in Saturday’s drawing, the string of rollovers will tie the Powerball record for the most consecutive drawings without a grand prize winner. The longest jackpot run in Powerball history ended on Oct. 4, 2021, when a ticket in California won a $699.8 million jackpot on the 41st drawing. No one has won the top Powerball prize since Aug. 3.
Customer fills out a Powerball lottery ticket at a convenience store in Northbrook, Illinois, Tuesday, Oct. 25, 2022. The jackpot is estimated at $1.5 billion with a cash option of $745.9 million for the next drawing on Saturday, Nov. 5. (Photo/Nam Y. Huh / AP Newsroom)
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3. The odds of winning this Powerball jackpot are 1 in 292.2 million, larger than the chance of having identical triplets (1-in-200 million).
4. Winning the Powerball will put you in the highest U.S. tax bracket, meaning you would pay a rate of 37% on your taxable income after adjustments, deductions and credits. If you took the $745.9 million cash option, it would be a one-time hit. Claiming an annuity paid in 30 graduated payments over 29 years means you would likely stay in the top bracket for decades.
5. Powerball tickets cost $2 per play with tickets sold in 45 states, the District of Columbia, Puerto Rico and the U.S. Virgin Islands. The next drawing is Saturday, Nov. 5, 2022 at 10:59 p.m. ET. The winning numbers in Wednesday drawing were 2, 11, 22, 35, 60 and the red Powerball 23.