Players are eagerly anticipating the upcoming Powerball jackpot draw on Saturday, October 7, hoping to break an 11-week drought without a major winner. The odds of winning remain a challenging 1 in 292.2 million, making it tough to secure the jackpot.
What is the current prize money for the upcoming Powerball draw?
The prize for this year's Powerball has reached a staggering USD 1.4 billion (Rs 7,533 crore), a sum propelled by increasing ticket sales as more players participate in the draw. However, the advertised jackpot of USD 1.4 billion translates to approximately USD 643.7 million (Rs 3,960 crore) for winners who choose the cash payout option, which is less than half of the initially advertised amount.
Players also have the option to select an annuity, where the USD 643.7 million cash prize can be paid out over 30 years, ensuring a guaranteed total return of USD 1.4 billion.
What happens if a Powerball winner dies before collecting their prize?
The remaining amount would be passed on to the winner's estate.
Previous Powerball winners:
The names of Powerball winners are not disclosed due to privacy concerns. The most recent Powerball jackpot winner was announced on July 19. The person secured $1.08 billion in California, as reported by the Multi-State Lottery Association, which helps coordinate the Powerball lottery.
The largest jackpots ever won in Powerball history were the remarkable $2.04 billion (Rs 15,000 crore) won in November 2022, and the staggering $1.586 billion (Rs 7,541 crore) in June 2016.
