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Powerball Jackpot Hits $1.6 Billion for Monday Night Drawing

The prize offers a $735.3 million cash option or a 30-year annuity with 1-in-292.2 million odds.

Overview

  • The drawing is scheduled for 10:59 p.m. ET on Dec. 22, with $2 tickets sold in 45 states plus Washington, D.C., Puerto Rico and the U.S. Virgin Islands.
  • If the estimate holds, the pot would rank as the fourth-largest in Powerball history and the fifth-largest U.S. lottery jackpot.
  • Both the annuity and cash figures are pre-tax, and the annuity pays one immediate installment followed by 29 annual payments that rise by 5% each year.
  • Powerball lists the jackpot odds at 1 in 292.2 million, with overall game odds of a prize far higher.
  • The jackpot was last hit in September when two tickets split $1.787 billion, though reports differ on whether the second winning ticket was in Missouri or Montana alongside Texas.