What Is the Powerball Jackpot?
As no one had a ticket that matched all winning numbers on Saturday, the Powerball jackpot has grown to an estimated $1.9 billion. The next drawing for Powerball drawing will be on Nov. 7, 2022.
Having the jackpot valued at $1.9 billion is record-breaking as it is one of the largest lotto prizes ever offered. Last Saturday, Nov. 5, 2022, the winning numbers were 28-45-53-56-69 and the Powerball was 20.
Had someone had the matching winning numbers, they would have won $1.6 billion which had the option to cash out for a lump-sum estimated at $782 million.
Numbers are drawn for the Powerball jackpot every Monday, Wednesday and Saturday at 10:59 p.m. EST. If no one wins the $1.9 billion, with an estimated cash value of $929 million, it will tie the record for consecutive drawings in a row with no grand prize winner. Although it wasn’t the grand prize, Saturday did see a $2 million winner from Kentucky for the Power Play Match 5/5.
No one had the matching numbers on Nov. 5, 2022, so there was no grand prize winner. This increased the estimated jackpot from $1.6 billion to $1.9 billion for the next drawing.
How To Play Powerball
If you are going to gamble it is important to know how to play Powerball. Powerball tickets are $2 each. Once you have your ticket you choose five numbers for the white balls from 1 to 69, and one “Powerball” number for the red ball that can range between 1 to 26.
To win the grand prize, you must match all six numbers which include all five white balls and the red “Powerball” number. You only need to match one number to win something, for example, if you just match the “Powerball” number you win $4. Here is a further outline of Powerball prizes:
Matching Numbers Prize Level | Payout |
|---|---|
Match all 6 numbers (5 white balls + red Powerball number) | Grand prize jackpot |
Match 5 numbers | $1 million |
Match 4 numbers + Powerball number | $50,000 |
Match 4 numbers | $100 |
Match 3 numbers + Powerball number | $100 |
Match 3 numbers | $7 |
Match 2 numbers + Powerball number | $7 |
Match 1 number + Powerball number | $4 |
Match Powerball only | $4 |
If you want to increase your chances a bit you can opt for “Powerplay.” For this, you would pay an additional $1. By adding $1 to the cost of the ticket which multiplies non-jackpot winning prizes by a factor of 2, 3, 4, 5 or 10.
What Are the Odds of Winning Powerball?
It’s no secret that the chances of winning a lottery of any kind, let alone the Powerball jackpot, are slim to none. With many people vying for a better life there is no shortage of people willing to believe in miracles. That being said, though the cost may be low, the competition is great. This is not to say there isn’t a chance of winning, but the odds are not spectacular. Below is a breakdown of your estimated chances to win something in Powerball.
Matching Numbers Prize Level | Odds of Winning | Winners in Last Powerball Draw |
|---|---|---|
Match all 6 numbers (5 white balls + red Powerball number) | 1 in 292.2 million | 0 |
Match 5 numbers | 1 in 11.7 million | 16 |
Match 4 numbers + Powerball number | 1 in 913,129 | 219 |
Match 4 numbers | 1 in 36,535 | 5,888 |
Match 3 numbers + Powerball number | 1 in 14,494 | 14,968 |
Match 3 numbers | 1 in 580 | 379,017 |
Match 2 numbers + Powerball number | 1 in 701 | 311,716 |
Match 1 number + Powerball number | 1 in 92 | 2.4 million |
Match Powerball only | 1 in 38 | 5.9 million |
Where To Play Powerball
Powerball is played 45 states. It is also played in Puerto Rico, U.S. Virgin Islands and Washington DC. There are only five states which don’t allow the selling of lottery tickets which are Alabama, Alaska, Hawaii, Nevada and Utah.
If you are not in one of these five states you can look up ticket vending locations on your State Lottery website. These websites also provide you with information on where to cash in your winnings.
What Is the Current Powerball Jackpot?
With Monday’s jackpot being at an estimated $1.9 billion it is hard not to consider spending a few bucks just to take the chance. The estimated cash value of that win would be $929.1 million. Sure, the odds aren’t good, but you can’t rationalize with a dream. If you know how to play Powerball and know the odds of winning Powerball and you have $2 to spare, it may be a bit of fun to risk becoming a multi-millionaire. After taxes, even if you have to split your winnings, that is still a life-changing amount of money.
The next Powerball will be Monday, Nov. 7, 2022, at 10:59 p.m EST. May the odds be in your favor.
Powerball Jackpot FAQ
Here's what you should know right now about the Powerball jackpot.
How much is the Powerball only worth?
If you match just the red Powerball number, and no other number, you win $4, which makes you the money back you spent on the ticket plus $2 more.
What is the payout for a $1.6 billion Powerball?
The payout for a $1.6 billion Powerball is an estimated amount of $782 million.
When is the next Powerball draw?
Powerball draws numbers every Monday, Wednesday and Saturday at 10:59 p.m. EST. The next drawing will be on Nov. 7, 2022.
What states don't have Powerball?
Though you can play Powerball in 45 states -- Puerto Rico, U.S. Virgin Islands and Washington DC -- there are five states which do not sell lottery tickets. They are Alabama, Alaska, Hawaii, Nevada and Utah.
When do they draw the Powerball numbers?
Powerball is drawn every Monday, Wednesday and Saturday at 10:59 p.m. EST.
What is the payout for a $1.9 billion Powerball?
The payout for a $1.9 billion Powerball is an estimated amount of $929.1 million.
This article originally appeared on GOBankingRates.com: What Is the Powerball Jackpot?
