Powerball jackpot grows to world's largest ever at $1,600,000,000

The Powerball jackpot has reached the world’s highest amount ever at $1.6billion, ahead of Saturday’s drawing.

Game leaders increased the jackpot estimate, which has a $782.4million cash value, on Friday morning. The $1.6billion surpasses the previous record set by the 2016 Powerball at $1.586billion.

‘We are witnessing history in the making with this $1.6 billion jackpot!’ stated Drew Svitko, the Powerball Product Group chairman and Pennsylvania Lottery executive director.

‘What’s also exciting is that this run has already created millions of winners, including nearly 100 players who have won prizes worth $1 million or more.’

Top 10 Powerball jackpots of all time:

1. $1.6 billion (estimated) – drawing Nov 5, 2022

2. $1.586 billion – Jan 13, 2016 – California, Florida, Tennessee

3. $768.4 million – March 27, 2019 – Wisconsin

4. $758.7 million – Aug 23, 2017 – Massachusetts

5. $731.1 million – Jan 20, 2021 – Maryland

6. $699.8 million – Oct 4, 2021 – California

7. $687.8 million – Oct 27, 2018 – Iowa, New York

8. $632.6 million – Jan 5, 2022 – California, Wisconsin

9. $590.5 million – May 18, 2013 – Florida

10. $587.5 million – Nov 28, 2012 – Arizona, Missouri

(Source: powerball.com)

The drawing will take place at 10.59pm ET at the Florida Lottery draw studio in Tallahassee.

Ticket sales typically cut off one to two hours before the drawing, based on the jurisdictions.

‘There’s a lot of anticipation and excitement leading up to Saturday’s drawing,’ Svitko said. ‘We would like to remind players that it only takes one ticket to win. Please, play responsibly.’

The Powerball was last won on August 3 in Pennsylvania.

If no player wins the 40th drawing on Saturday, it will tie the game record for the longest streak of consecutive drawings without a grand prize winner. The longest run to date was broken on October 4, 2021, with a winning ticket in California that had a $699.8million jackpot.

The current Powerball reached the second-highest amount ever at $1billion earlier this week.

‘This Powerball game is delivering exactly what our players want,’ Svitko said.

Powerball tickets are $2 each. The game is played in 45 states, Washington, DC, Puerto Rico and the US Virgin Islands. The drawing is live streamed at Powerball.com

Jackpot winners can choose pick to receive the reward as a lump sum payment or as an annuity paid in 30 graduated payments over 29 years.

The winner will have almost half of the earnings wiped out due to taxes.

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