The Powerball jackpot has risen to $700 million — making it the ninth-largest ever for the Powerball – ahead of Wednesday night's drawing.
The prize is now $700 million for the drawing on Wednesday, Dec. 27, 2023 — but that's only for winners who choose to take their riches through an annuity, paid annually over 29 years. Nearly all winners opt for cash, which is currently estimated at $352.3 million, before taxes.
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This is the fourth Powerball jackpot to exceed half a billion dollars this calendar year. The Powerball jackpot was previously won on Oct. 11 when a ticket in California won a $1.765 billion grand prize. That winner has yet to come forward.
Since then, there have been 33 consecutive drawings without a jackpot winner. The winless streak is due to the abysmal odds of winning: one in 292.2 million.
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The jackpot rose to $685 million on Monday after there were no winners for the Christmas Day drawing — and that number rose again Wednesday due to "strong ticket sales," according to lottery officials. Historically, there have been only three Powerball jackpots won on Christmas: The last time was ten years ago, on Dec. 25, 2013, when a ticket in Missouri won the $71.5 million jackpot.
The largest lottery jackpot in U.S. history stands at $2.04 billion and was won by a single Powerball ticket in California on Nov. 7, 2022. The winner, Edwin Castro, came forward earlier this year after months of speculation.
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Powerball is played in 45 states, as well as Washington, D.C., Puerto Rico and the U.S. Virgin Islands. Drawings are held every Monday, Wednesday and Friday.
