It’s been exactly 12 weeks since Powerball tickets sold in Pennsylvania won the last grand prize. Meanwhile the jackpot rose significantly, and, after 35 consecutive rounds with no grand prize winners, is up an estimated $700 million ahead of Wednesday night’s drawing.
The anticipated fund is the biggest jackpot ever this year, according to Powerball, which raised $680 million earlier this week. It is also the fifth largest Powerball jackpot and the eighth largest US lottery jackpot.
Powerball’s weekly drawings – which take place on Mondays, Wednesdays and Saturdays – have resulted in partial wins for players over the past three months. According to the lottery, the most recent drawing gave smaller wins to more than 1.2 million ticket holders, who collectively received $13.7 million in cash prizes.
There are nine ways to win some amount by entering the game, but in order to take home the grand prize, Powerball players must hold tickets with numbers that match all six chosen during a given drawing. On August 3, a player whose Pennsylvania ticket was a perfect match won the jackpot, which at the time amounted to $206.9 million.
This was the fifth Powerball grand prize won in 2022. In January, winners in California and Wisconsin split the jackpot of $632.6 million, before a Connecticut winner won the $185.3 million prize nearly a month later. In April, an Arizona ticket won $473.1 million, and in June, a $366.7 million jackpot matched a lottery ticket sold in Vermont.
Those who eventually claim the next Powerball jackpot have the option of receiving their prize as an immediate lump sum, if someone wins on Wednesday, or as an annuity with an estimated $335.7 million cash value. . The latter option offers to pay out the entire jackpot amount over a period of approximately 30 years.
According to Powerball, the odds of winning any prize after entering the game are slightly less than 1 in 25, while the odds of winning the jackpot are about 1 in 292 million. The next Powerball drawing is scheduled to air live Wednesday nights at 10:59 p.m. ET. The drawing can also be streamed online at Powerball.com.