Powerball Jackpot Climbs to $535 Million for Saturday Drawing

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The Powerball® jackpot and the holidays are coming right up! The jackpot for the Powerball drawing on Saturday, Dec. 16, 2023 currently stands at an estimated $535 million. The jackpot has an estimated cash value of $257.6 million.

It has been a year of BIG jackpots for Powerball! A total of five Powerball jackpots have been won in 2023, with three of the grand prizes ranking among the top-ten largest in the history of the game.

  • Feb. 6, 2023 – $754.6 million – WA
  • March 4, 2023 – $162.6 million – VA
  • April 19, 2023 – $252.6 million – OH
  • July 19, 2023 – $1.08 billion – CA
  • Oct. 11, 2023 – $1.765 billion – CA

The Powerball jackpot has been rolling since it was last won on Oct. 11, 2023, by a single ticket in California that matched all five white balls and the red Powerball to win a grand prize worth $1.765 billion. Since then, there have been 27 consecutive drawings without a jackpot winner.

While no one won the jackpot in last Wednesday’s drawing, four tickets nationwide matched all five white balls. Two of the tickets, sold in New York and New Jersey, won $1 million prizes. The other two tickets, sold in Arkansas and Texas, increased their winnings to $2 million by including the Power Play(r) feature for an additional $1 per play. Since the start of the jackpot run, a total of 29 tickets have won Match 5 prizes worth at least $1 million. Note: In California, prize payouts are parimutuel and determined by sales and the number of winning tickets.

If a player wins the jackpot in Saturday’s drawing, they will have the choice between an annuitized prize worth an estimated $535 million or a lump sum payment estimated at $257.6 million. If the winner selects the annuity option, they’ll 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. Powerball drawings are broadcast live every Monday, Wednesday and Saturday 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.