An estimated $1.6 billion is up for grabs in Monday’s Powerball draw after the jackpot rolled over on Saturday.
If a player hits the jackpot on Monday, they can choose between an annuitized prize estimated at $1.6 billion or a lump sum payment estimated at $735.3 million before tax.
The annuity option allows the winner to receive one payment immediately, then 29 annual payments that increase by 5% each year.
The prize is the fourth largest in the game’s history, Powerball said in a news release. This year it’s second to the $1.787 billion Powerball jackpot won on September 6.
The biggest US lottery jackpot was a Powerball prize of $2.04 billion in 2022.
To win a Powerball jackpot, a ticket holder must match all six drawn balls — five white and one red.
Monday’s draw will be the 46th in the current jackpot run, Powerball said.
The odds of winning the Powerball’s jackpot are 1 out of 292.2 million, though the odds are better for smaller cash prizes, some as low as $4.
The Powerball drawings are held every Monday, Wednesday and Saturday at 10:59 p.m. ET.
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