Still the 5th-largest lottery jackpot in US history, but cash value now 11th-biggest ever
By Todd Northrop
Due to larger than expected sales volume, the Multi-State Lottery Association (MUSL) has raised the official Powerball lottery jackpot estimate for Saturday's drawing to $825 million.
The all-important lump-sum cash value of the jackpot has been raised to $410.2 million.
The newly-increased jackpot amount still ranks as the 5th-largest ever recorded in United States lottery history, but the cash value ranking was increased to the 11th-largest of all time. The top-25 annuity and cash value jackpots are listed below.
The Powerball drawing will be conducted Saturday night at 10:59 pm Eastern Time (7:59 pm Pacific). The mammoth grand prize started at $20 million on Aug. 6, and is the result of 36 drawings with no jackpot winner.
After the Wednesday evening Powerball drawing, when it was determined that there were no jackpot winners, the new jackpot estimate for Saturday was set at $800 million, with a cash value of $383.7 million. The lottery sets the initial estimates based on what they conservatively believe the ticket sales will be prior to the next drawing. When it becomes clear that actual ticket sales are vastly outstripping the initial projections, the lotteries raise the jackpot estimate accordingly — as they did today.
It is quite possible that by the time the drawing occurs tomorrow night, the jackpot will be further increased. The final jackpot tally is announced during the live drawing show. The official drawing video will be available at multi-state specialty website USA Mega, usually within 15 or 20 minutes of the drawing.
Lottery players seeking to check the winning numbers Saturday night (or tonight for the Mega Millions drawing) are urged to use USA Mega (www.usamega.com). State lottery websites are normally brought to a standstill during busy periods, while USA Mega normally remains responsive.
Players looking for a nearby lottery retailer — or that out-of-the-way retailer with a smaller line — are encouraged to use Lottery Places, an app for iOS, Android, and Windows that can locate the nearest lottery retailers in every jurisdiction that sells Powerball and Mega Millions. The helpful app can locate lottery stores in the United States, the United Kingdom, Mexico, much of Canada, and the Caribbean.
Some states provide the ability to buy tickets over the Internet. See the Related Links section below for links to several states offering online play.
Powerball drawing results will be posted immediately after the 10:59 pm drawing at USA Mega. The number of winners and new jackpot will be announced after all participating Powerball states have reported their data, which normally occurs within a couple of hours after the drawing.
Players are advised not to wait until the last minute to buy tickets, as the ticket cutoff time varies between states.
The odds of winning the jackpot are approximately 1 in 292 million. The odds of winning any of the Powerball prizes are approximately 1 in 25.
Powerball tickets cost $2 each.
Lottery players can see an after-tax analysis of the current Powerball jackpot by visiting USA Mega's Jackpot Analysis page.
Powerball features nine different prize levels, ranging from $4 all the way up to the jackpot. Players can win even if they just match one number — the Powerball number.
All states except California also offer the Power Play option for an extra $1 per ticket purchased. The Power Play multiplies any non-jackpot prizes won by the Power Play number drawn that evening.
Players who purchase the Power Play and win second prize will automatically have their prize increased by 2x to $2 million.
According to the Texas Lottery, if there's no winner for tomorrow night's drawing, the next estimated jackpot for Powerball will be $1 billion.
Top 25 United States lottery jackpots of all time
Saturday's Powerball jackpot currently stands as the 5th-largest lottery jackpot of all time in the United States, and the 2nd-largest Powerball jackpot ever. Brisk sales will almost certainly push the jackpot estimate higher by draw time.
- Powerball: $1.5864 billion, Jan. 13, 2016 (19 rollovers, starting at $40 million) - California, Florida, Tennessee
- Mega Millions: $1.537 billion, Oct. 23, 2018 (25 rollovers, starting at $40 million) - South Carolina
- Mega Millions: $1.337 billion, Jul. 29, 2022 (29 rollovers, starting at $20 million) - Illinois
- Mega Millions: $1.05 billion, Jan. 22, 2021 (36 rollovers, starting at $20 million) - Michigan
- Powerball: $825 million, Oct 29, 2022 (36 rollovers, starting at $20 million) - Prelimiary estimate, not won yet
- Powerball: $768.4 million, Mar. 27, 2019 (25 rollovers, starting at $40 million) - Wisconsin
- Powerball: $758.7 million, Aug. 23, 2017 (20 rollovers, starting at $40 million) - Massachusetts
- Powerball: $731.1 million, Jan. 20, 2021 (35 rollovers, starting at $20 million) - Maryland
- Powerball: $699.8 million, Oct. 4, 2021 (40 rollovers, starting at $20 million) - California
- Powerball: $687.8 million, Oct. 27, 2018 (21 rollovers, starting at $40 million) - Iowa, New York
- Mega Millions: $656 million, Mar. 30, 2012 (18 rollovers, starting at $12 million) - Illinois, Kansas, Maryland
- Mega Millions: $648 million, Dec. 17, 2013 (21 rollovers, starting at $12 million) - California, Georgia
- Powerball: $632.6 million, Jan 5, 2022 (39 rollovers, starting at $20 million) - California, Wisconsin
- Powerball: $590.5 million, May 18, 2013 (13 rollovers, starting at $40 million) - Florida
- Powerball: $587.5 million, Nov. 28, 2012 (15 rollovers, starting at $40 million) - Arizona, Missouri
- Powerball: $564.1 million, Feb. 11, 2015 (20 rollovers, starting at $40 million) - North Carolina, Puerto Rico, Texas
- Powerball: $559.7 million, Jan. 6, 2018 (20 rollovers, starting at $40 million) - New Hampshire
- Mega Millions: $543 million, Jul. 24, 2018 (22 rollovers, starting at $40 million) - California
- Mega Millions: $536 million, Jul. 8, 2016 (34 rollovers, starting at $15 million) - Indiana
- Mega Millions: $533 million, Mar. 30, 2018 (23 rollovers, starting at $40 million) - New Jersey
- Mega Millions: $522 million, Jun. 7, 2019 (24 rollovers, starting at $40 million) - California
- Mega Millions: $516 million, May 21, 2021 (26 rollovers, starting at $20 million) - Pennsylvania
- Mega Millions: $502 million, Oct. 14, 2022 (21 rollovers, starting at $20 million) - California, Florida
- Powerball: $487 million, Jul. 30, 2016 (23 rollovers, starting at $40 million) - New Hampshire
- Powerball: $473.1 million, Apr. 27, 2022 (30 rollovers, starting at $20 million) - Arizona
The number of jackpots in the top 25, by lottery game, are:
- Powerball: 14
- Mega Millions: 11
Top 25 cash value jackpots
Since many lottery winners collect their winnings in cash, the lump-sum payout is an important measure of what a winning ticket could be worth.
Looking at the cash value, the upcoming Powerball jackpot ranks as the 11th-largest cash value in U.S. history.
- Powerball: $983.5 million cash, Jan. 13, 2016 ($1.5864 billion annuity) - California, Florida, Tennessee
- Mega Millions: $877.8 million cash, Oct. 23, 2018 ($1.537 billion annuity) - South Carolina
- Mega Millions: $780.5 million cash, Jul. 29, 2022 ($1.337 billion annuity) - Illinois
- Mega Millions: $776.6 million cash, Jan. 22, 2021 ($1.05 billion annuity) - Michigan
- Powerball: $546.8 million cash, Jan. 20, 2021 ($731.1 million annuity) - Maryland
- Powerball: $496 million cash, Oct. 4, 2021 ($699.8 million annuity) - California
- Powerball: $480.5 million cash, Aug. 23, 2017 ($758.7 million annuity) - Massachusetts
- Powerball: $477 million cash, Mar. 27, 2019 ($768.4 million annuity) - Wisconsin
- Mega Millions: $471 million cash, Mar. 30, 2012 ($656 million annuity) - Illinois, Kansas, Maryland
- Powerball: $450.2 million cash, Jan. 5, 2022 ($632.6 million annuity) - California, Wisconsin
- Powerball: $410.2 million cash, Oct 29, 2022 ($825 million annuity) - Prelimiary estimate, not won yet
- Powerball: $396.2 million cash, Oct. 27, 2018 ($687.8 million annuity) - Iowa, New York
- Powerball: $384.7 million cash, Nov. 28, 2012 ($587.5 million annuity) - Arizona, Missouri
- Powerball: $381.1 million cash, Feb. 11, 2015 ($564.1 million annuity) - North Carolina, Puerto Rico, Texas
- Mega Millions: $378 million cash, Jul. 8, 2016 ($536 million annuity) - Indiana
- Powerball: $370.9 million cash, May 18, 2013 ($590.5 million annuity) - Florida
- Powerball: $352 million cash, Jan. 6, 2018 ($559.7 million annuity) - New Hampshire
- Mega Millions: $349.3 million cash, May 21, 2021 ($516 million annuity) - Pennsylvania
- Mega Millions: $347.6 million cash, Dec. 17, 2013 ($648 million annuity) - California, Georgia
- Powerball: $341.7 million cash, Jul. 30, 2016 ($487 million annuity) - New Hampshire
- Mega Millions: $340 million cash, Jun. 7, 2019 ($522 million annuity) - California
- Mega Millions: $324 million cash, Mar. 30, 2018 ($533 million annuity) - New Jersey
- Mega Millions: $320.5 million cash, Jul. 24, 2018 ($543 million annuity) - California
- Mega Millions: $319.9 million cash, Jun. 9, 2020 ($414 million annuity) - Arizona
- Mega Millions: $314.4 million cash, Sep. 21, 2021 ($431 million annuity) - New York
The number of jackpot cash values in the top 25, by lottery game, are:
- Powerball: 12
- Mega Millions: 13
I wonder if it will break $900million before the drawing.
Turning $2 Into $825 Million.
Been waiting for this happen. Salivating like Pavlov's Dog!
Certainly it'll go up again!
Will it get to a billion by Sat night?
I don't wanna play anymore but invested too much huh time
Not by Saturday, but if nobody hits Saturday it will be $1 billion or more for Monday's draw.
You know it's a great jackpot when you basically don't care about the amount of taxes that will be taken out upfront. This will be the greatest Halloween in history for one lucky player.
Not sure about the $900 mark.....but $850 seems reasonable
On the Louisville news noon time they posted the jackpots. PB was wrong. Looked up their facsimile # and sent them the correct jackpot. On the next 1/2 hour they said 'we have an update, PB is now $825 million' simultaneously they showed the KLC PB logo.
Does PowerBall ever revise the jackpot total on a Saturday?
best of luck to all the players playing
I still hope it hits in an anonymous state
Let's hope it set a record....with 52 rolls...looks like 40 is the current record...
I love Halloween. Hope someone wins it on that day.
If 40, that will be close to $2bil
2 more no winners shld be over
I agree and can't believe its there. If no hit by sat or Monday, by Wednesday .
I don't know of a specific instance, but because some of the really big jackpots got bumped several times between the initial jackpot announcement and the drawing I'd think it has happened. Whether it will get bumped up on a Saturday if the bump is only 10 or 15 million may be a different question than a bump to 850 or more.
"Let's hope it set a record....with 52 rolls "
If 40 is the current record a new record is reasonably possible. I suspect that at some point people will have spent enough that sales would stabilize or even decrease, but another 12 rolls would probably mean selling at least 3 billion tickets. The chance of selling that many tickets without producing a winner is about 1 in 28,700, and if it did happen we'd see a cash jackpot of about $2.5 billion, with an advertised jackpot of about $5 billion. Realistically, the only chance of seeing it get anywhere close to that big is rolling well past $2 billion (advertised), causing people to absolutely lose their minds and spend several billion for 1 or 2 drawings.
I don't think a billion if no one hits this draw. If no hit. Monday would probably be breaking the record set back in 2016? the next month that yr my dad died. I remember because he said oh get some quick picks. He didn't care.
Can someone direct me on the information that explains the annuity / cash value?
At $825 M the cash value is so low compared to years in the past....I know the interest rates impact it (just want to know where I can read about it).
Thanks so much!
Lottery Post published an informative video that steps through exactly how the jackpot annuity and cash value is calculated — and is strongly recommended viewing for any lottery player.
I recognize all the words but I'm not sure what you said. Does "I don't think a billion if no one hits this draw" mean you think it won't reach a billion, or you think it will go well beyond a billion and set a new record?
The other day I said I figured it would probably reach a billion if it rolls from 850, but after thinking about it I'm not so sure because the next drawing is on a Monday. I didn't check every Monday drawing since they started, but I did check all of them when the jackpot was as large as PB has managed since starting Monday drawings, and so far the Monday drawings have always had smaller sales than the preceding Saturday. Based on that history I'm thinking that if sales for tonight drive a $150 million increase from 700 to 850 sales for Monday are likely to be somewhat less than enough for another $150 million jump. That said, this will be the first time the Monday drawing has been for more than $700 million, so maybe there's enough of a frenzy for sales to be higher than Saturday's.
It would take an all out miracle to make it to the 1.58 billion record.
with the interest rates what they are now the annuity is growing way faster then normal based on ticket sales. If it rolls Monday and Wednesday i am guessing the annuity for next Saturday may be close to a new record
At the time of the drawing, the jackpot was $822.3 million. It rolled over to $1 billion annuity/ $497.3 million cash value
I think monday or wed a ticket is winning. crazy it sounds.
As above, maybe the jackpot is high enough for Monday's sales to beat Saturday's, but I think there's a fair chance they could come up short again. If sales bring it to an even billion the chance of a rollover will be about 61%. Another rollover will mean strong sales for Wednesday, so 1.3 to 1.5 is probably very likely. That would mean sales of about 236 to 395 million tickets which corresponds to a 45 to 25% chance for another rollover.
Anything can happen, but the most likely outcome is one more rollover on Monday night and a single winner on Wednesday.
"If it rolls Monday and Wednesday i am guessing the annuity for next Saturday may be close to a new record "
A roll on Monday means a decent chance of setting a new annuity record by Wednesday, but even if it gets to 1.6 billion we'll still be almost 188 million shy of a new cash record. Setting a new cash record will require an advertised jackpot of 1.978 billion (assuming the cash/annuity ratio stays the same). I'd imagine a Wednesday rollover would have a very good chance of getting us there.
Wow, the cash value is less than half the annuity. That sucks!
I think they'll have another bump before Monday. Maybe 1.1 B.
well color me happy & extremely annoyed
I think a winning ticket happens on Wed. Let's think about it. They will have that record broken on Wed, not tomorrow. Forget statistics, forget how many weeks it took.
I also predict 6 members on this site will get at least $250. Lets see what happens.