A $1.7 B Powerball jackpot could become the fourth-largest prize in the game’s history, and it’s up for grabs on Christmas Eve.
Jackpot Status
The Wednesday drawing marks the 47th consecutive attempt without a winner, extending the record-setting streak that previously stood at 42 draws. The most recent win, on Sept. 6, split a $1.787 B prize between tickets sold in Missouri and Texas, the second-largest in Powerball history. The odds of hitting the jackpot remain a minuscule 1 in 292.2 million.
Prize Options
A ticket that matches all five white balls plus the red Powerball gives the holder two choices:
- Claim the estimated $1.7 B grand prize, paid as an annuity with annual payments over 30 years.
- Take a one-time lump-sum payment of an estimated $781.3 M.
In either case, federal taxes and, in most jurisdictions, state taxes will reduce the take-home amount.
Powerball Basics
Powerball is played in 45 states, Washington, D.C., Puerto Rico and the U.S. Virgin Islands. Tickets cost $2 each, and drawings occur three times a week-Mondays, Wednesdays and Saturdays. Adding the Power Play option-an extra $1 that can multiply winnings by two, three, four, five or ten-offers additional potential.
The largest jackpot ever awarded was $2.04 B, won in 2022 by a California ticket.
Legal Insights
Attorney Andrew Stoltmann, who has represented 12 lottery winners, notes that many legal battles stem from office lotto pools gone wrong. “Unfortunately, the people who win the lottery think at that point, the journey is over. And what they don’t realize is that the journey has really just begun,” he says.
Key Takeaways
- The $1.7 B jackpot is the fourth-largest in Powerball history.
- 47 consecutive drawings have passed without a winner.
- Winners can choose between a 30-year annuity or a $781.3 M lump sum, subject to taxes.
The holiday season will not affect the drawing, and any winning ticket will be processed as usual.
