Powerball Jackpot Soars to $835 Million as No Winner Emerges

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Powerball drawing
Powerball lottery tickets pictured inside a store in Homestead, Florida on July 19, 2023. The Powerball jackpot has reached 1 billion USD for the July 19, 2023, drawing, which has only happened two times before in the history of the game. (Photo by GIORGIO VIERA / AFP) (Photo by GIORGIO VIERA/AFP via Getty Images)

The Powerball lottery jackpot continues its relentless climb, with no lucky ticket holder coming forward to claim the top prize in Monday night’s drawing. This week’s Powerball lottery is now the second-largest jackpot of the year and ranks as the fourth-largest jackpot in the history of the game.

The current jackpot has reached an astonishing estimated amount of $835 million, and it’s up for grabs in the next drawing scheduled for Wednesday night, according to the official statement from Powerball. The cash value of this substantial jackpot stands at a staggering $390.4 million.

During the most recent drawing on Monday night, the lottery reported that a total of 1.2 million winning tickets were sold nationwide. Among these fortunate players, four tickets matched all five white balls, securing $1 million prizes. In addition to these substantial wins, 32 tickets claimed $50,000 prizes, and six tickets snagged $100,000 prizes.

The next opportunity to hit the jackpot is just around the corner on Wednesday, though it’s important to note that the odds of winning the grand prize remain highly challenging at 1 in 292.2 million.

This remarkable jackpot is part of a series of substantial prizes, as there have been multiple $1 billion jackpots up for grabs this year. In August, the Mega Millions jackpot reached an unprecedented $1.55 billion, marking the largest Mega Millions jackpot ever recorded, as reported recently. Notably, the largest jackpot in history was claimed in November of the previous year when the Powerball jackpot skyrocketed to an astonishing $2.04 billion.

Should a fortunate individual select the winning numbers in Wednesday night’s drawing, they will face a significant decision. The winner will have the choice between an annuitized prize, estimated at $835 million, paid out over time, or a lump sum payment estimated at $390.4 million, as detailed by Powerball. Both prize options are subject to taxes. Opting for the annuity means receiving one immediate payment followed by 29 annual payments, which increase by 5% each year.

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