Powerball Jackpot Surges to $1.4 Billion for Saturday Night Drawing

The Powerball drawing scheduled to take place Saturday, October 7, has an estimated jackpot of $1.4 billion, with an estimated cash option of $643.7 million. Powerball drawings take place every Monday, Wednesday and Saturday at 10:59 p.m. The odds of winning the Powerball jackpot are 1 in 292.2 million. The odds of winning a prize are 1 in 24.9. Additional details below courtesy of Powerball:

“The Powerball jackpot evaded players Wednesday night, after no ticket matched all six number drawn – white balls 9, 35, 54, 63, 64 and red Powerball 1. The Power Play® multiplier was 2X. The Powerball jackpot now stands at an estimated $1.4 billion for the next drawing on Saturday night. The jackpot has a cash value of $643.7 million. Saturday’s estimated jackpot ranks as the third largest in the Powerball game and fifth largest among U.S. lottery jackpots.

The Powerball drawing on Wednesday night produced more than 3.2 million winning tickets across the country, including seven tickets (CA-2, CO, NY, PA, TX-2) that matched all five white balls to win $1 million prizes. Three tickets (KY, PA, TX) matched all five white balls and increased the $1 million prize to $2 million by including the Power Play feature for an additional $1 per play. Other big wins include 81 tickets that won $50,000 prizes and 13 tickets that won $100,000 prizes. (Note: In California, prize payout amounts are pari-mutuel and determined by sales and the number of winners.)

There was also a ticket in Florida that won a $500,000 prize in the Double Play® drawing, held after the Powerball drawing. Double Play is an add-on feature that gives players in select jurisdictions another chance to match their Powerball numbers in a separate drawing with a top cash prize of $10 million. Players can add the Double Play feature to their Powerball ticket for an additional $1 per play. Double Play drawings are held after Powerball drawings every Monday, Wednesday and Saturday.

The upcoming Powerball drawing on Saturday will be 34th drawing in the jackpot run, and the first time in Powerball history that back-to-back jackpot cycles have generated billion-dollar grand prizes. The Powerball jackpot was previously won on July 19, when a ticket in California won a jackpot worth $1.08 billion.

If a player wins the jackpot on Saturday night, they will have the choice between an annuitized prize worth an estimated $1.4 billion or a lump sum payment estimated at $643.7 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.

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.

Top 10 Powerball Jackpots

1. $2.04 Billion – Nov. 7, 2022 – CA
2. $1.586 Billion – Jan. 13, 2016 – CA, FL, TN
3. $1.4 Billion (est.) – Oct. 7, 2023
4. $1.08 Billion – July 19, 2023 – CA
5. $768.4 Million – March 27, 2019 – WI
6. $758.7 Million – Aug. 23, 2017 – MA
7. $754.6 Million – Feb. 6, 2023 – WA
8. $731.1 Million – Jan. 20, 2021 – MD
9. $699.8 Million – Oct. 4, 2021 – CA
10. $687.8 Million – Oct. 27, 2018 – IA, NY”