DES MOINES, Iowa — Another Powerball drawing Saturday night, another chance at a jackpot that is inching toward $1 billion.
The estimated prize climbed from $925 million to $960 million on Friday. That would be the world's ninth-largest lottery jackpot, behind earlier Powerball and Mega Millions prizes that all topped $1 billion.
The prize has grown so large because there have been 30 consecutive drawings without a big winner, dating to July 19. That streak without a jackpot winner is due to the game's long odds, 1 in 292.2 million, that are designed to make winning rare so grand prizes can grow large.
The $960 million prize is for a sole winner who chooses an annuity, with annual payments over 30 years. Winners almost always take the cash option, which for Saturday's drawing would be an estimated $441 million.
Federal taxes will eat into those winnings, and some states also tax big lottery prizes.
Powerball is played in 45 states, as well as Washington, D.C., Puerto Rico and the U.S. Virgin Islands.
When is the Powerball drawing?
The Powerball drawing takes place live at 10:59 p.m. Eastern every Monday, Wednesday and Saturday. Tickets, which cost $2 per play, are sold in 45 states, the District of Columbia, Puerto Rico and the U.S. Virgin Islands.
What are my chances of winning the Powerball?
The odds of winning the Powerball jackpot are one in 292.2 million.
Over the past few years, huge lottery jackpots have become more common as lottery officials have changed the rules and ticket prices to boost top prizes.
Powerball's biggest change came in 2021 when officials decided to add a Monday drawing to its weekly lineup of Wednesday and Saturday evening drawings. At the time of the announcement, Powerball proclaimed the addition of the Monday drawing would lead to "larger, faster-growing jackpots."
What are the largest Powerball jackpots?
- $2.04 Billion – Nov. 7, 2022 – CA
- $1.586 Billion – Jan. 13, 2016 – CA, FL, TN
- $1.08 Billion – July 19, 2023 – CA
- $925 Million (est.) – Sept. 30, 2023
- $768.4 Million – March 27, 2019 – WI
- $758.7 Million – Aug. 23, 2017 – MA
- $754.6 Million – Feb. 6, 2023 - WA
- $731.1 Million – Jan. 20, 2021 – MD
- $699.8 Million – Oct. 4, 2021 – CA
- $687.8 Million – Oct. 27, 2018 – IA, NY