The Powerball jackpot made headlines on Saturday night as it soared to $1.3 billion, marking the fourth-largest jackpot in Powerball history.
The winning combination, which consisted of the numbers 22, 27, 44, 52, and 69, with a Powerball number of 9, resulted in a single ticket sold in Oregon matching all six numbers to claim the grand prize. The lucky winner now has the option to receive the prize as either an annuity or a cash payout, with the cash option for this drawing estimated at $621 million.
This remarkable jackpot size was reached after no tickets matched all six numbers in the previous Wednesday drawing, leading to a steady increase in the jackpot amount. The $1.3 billion jackpot now stands as the eighth-largest in the history of U.S. lotteries.
The drawing for this historic jackpot was delayed by several hours to complete necessary procedures, as per Powerball rules, which require that every ticket sold nationwide be checked against two different computer systems before the winning numbers are drawn. This process ensures that every ticket sold has an equal chance of winning.
Powerball tickets are priced at $2 per play, with players choosing five numbers from 1 to 69 and one red Powerball number from 1 to 26. The game is played in 45 states, Washington D.C., Puerto Rico, and the U.S. Virgin Islands.
Winners of the Powerball jackpot have the choice of receiving their prize as an annuity, paid in 30 graduated payments over 29 years, or as a lump sum payment. Both options are subject to taxes. If the annuity option is selected, the winner receives one immediate payment followed by 29 annual payments that increase by 5 percent each year.
The next Powerball drawing is scheduled for Monday, April 8, with live broadcasts taking place every Monday, Wednesday, and Saturday at 10:59 p.m. EST from the Florida Lottery draw studio in Tallahassee.