$1.6 Billion Powerball Jackpot Up for Grabs After Prize Rolls Over

The Powerball jackpot has climbed to an estimated $1.6 billion after the prize rolled over during Saturday’s drawing, setting the stage for one of the biggest lottery payouts ever ahead of Monday night’s draw.

If a ticket holder matches all six numbers, they will have the option to take the full prize as an annuitized payout of $1.6 billion or choose a lump sum cash option estimated at $735.3 million before taxes. The annuity option includes an immediate payment followed by 29 annual payments that increase by 5 percent each year.

Powerball officials say the current jackpot is the fourth largest in the game’s history. It is the second-largest prize of the year, trailing only the $1.787 billion jackpot won in September. The largest lottery jackpot in US history remains the $2.04 billion Powerball prize claimed in 2022.

Monday’s drawing will mark the 46th draw in the current jackpot run, highlighting how rare it is for the top prize to be claimed. To win the jackpot, a player must match all five white balls and the red Powerball.

While the odds of winning the Powerball jackpot are steep at 1 in 292.2 million, players can still win smaller prizes, with some payouts starting as low as $4.

Powerball drawings are held three times a week on Monday, Wednesday, and Saturday at 10:59 p.m. Eastern time.

Explore: NBCPalmSprings.com, where we are connecting the Valley.