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Powerball jackpot now ranks among top 10 biggest

Powerball is set to hold its largest drawing since February.
Powerball jackpot now ranks among top 10 biggest
Posted at 1:15 PM, Jul 10, 2023

The jackpot for Monday's Powerball drawing is expected to be its ninth-largest ever, reaching an estimated $650 million. 

The Powerball jackpot has steadily grown since a player in Ohio won a $252 million jackpot on April 19. There have been two winning Powerball tickets sold in 2023.

Someone in Virginia won a $162.6 million jackpot in the March 4 drawing. Monday's jackpot also marks the largest Powerball jackpot since a player in Washington won a $754.6 million jackpot in the Feb. 6 drawing.

Since Powerball lowered the odds of hitting all six numbers in 2015, the multi-state lottery generally has six to nine winners a year. All 10 of its largest jackpots have also come since 2015. The largest Powerball jackpot in history was $2.04 billion, won on Nov. 7, 2022.

The $650 million jackpot figure is based on the winner choosing the annuity option. If the winner takes the lump sum, that person would win $328.3 million. Both figures are before taxes.

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The odds of winning the jackpot are about 1 in 292 million. 

Powerball also has prizes ranging from $4 to $2 million. The odds of winning a smaller prize are about 1 in 25.

Powerball is played in 45 states and Washington, D.C.

Another multi-state lottery, Mega Millions, will hold its 14th-largest jackpot on Tuesday at $480 million. 

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