US Powerball jackpot breaks worldwide record

US Powerball jackpot breaks worldwide record
Image: Shutterstock

After 40 draws dating back to August 6, the US Powerball jackpot now stands at $1.9bn – the highest-ever jackpot in history.

Saturday night’s (November 5) drawing was the 40th without a winner matching all six numbers, ensuring the prize on offer tonight (November 7) is a record-breaking one.

Only two jackpots have ever exceeded $1.5bn – the previous world record Powerball jackpot of $1.58bn in January 2016 and the Mega Millions record of $1.53bn, which was won in 2018.

40 drawings without a winner also matches a record for draws without a winner, echoing a feat set in 2021.

Drew Svitko, Powerball Product Group Chair and Pennsylvania Lottery Executive Director, said: “The jackpot is getting bigger with every ticket sold. The fact that tickets are selling at a rate of at least 160,000 tickets per hour, should therefore come as good news to international audiences.

“Although it may seem counterintuitive to want more people to enter the Powerball draw, this is not the case: the odds of winning remain the same, but the jackpot increases in size as more tickets are purchased.”

The odds of winning the Powerball jackpot are one in 292.2 million.

Winners may decide to receive their money as an annuity, paid in 30 graduated payments over 29 years, or a lump sum cash payment.

The new $1.9bn jackpot is for a winner who is paid through an annuity over 29 years; if someone wins Monday’s drawing and would prefer a lump sum of cash, they would receive $929.1m.

Both types of winnings are subject to federal and local taxes.

“Players will have the same odds in the [Monday] night drawing as every other Powerball drawing,” added Svitko.

“During this exciting time, we remind players to please play responsibly.”