Developer Jerry Stucchi of JGK Associates & Rocco Capponi discuss Proposed Erie Canal Village Amphitheater in Rome
April 3, 2024
Manhattan DA asks judge to reject Trump’s latest attempt to delay hush money trial
April 3, 2024

Powerball jackpot climbs to $1.09 billion ahead of Wednesday night’s drawing


Powerball jackpot climbs to $1.09 billion ahead of Wednesday night’s drawing

Catherine McQueen/Getty Images

(NEW YORK) — The Powerball jackpot in Wednesday night’s drawing is one of the largest in the game’s history.

The jackpot is an estimated $1.09 billion — which would make it the fourth-largest in Powerball history and the ninth-largest lotto jackpot ever when factoring in Mega Millions grand prizes.

Wednesday night’s Powerball jackpot has an estimated cash value of $527.3 million.

Wednesday’s drawing comes after a Mega Millions player won the eighth-largest jackpot ever last week. A ticket in New Jersey claimed the $1.128 billion Mega Millions prize.

If a player wins, they can choose between a lump-sum, pre-tax payment of $527.3 million or annual payouts of $1.09 billion, also pre-tax — starting with one immediate payment followed by 29 annual payments that increase by 5% each year.

The Powerball jackpot crossed the billion-dollar threshold last week. There have been 39 consecutive drawings without a jackpot winner. The last winner was on Jan. 1, when a ticket in Michigan won $842.4 million, according to the lottery.

The odds of winning the jackpot are 1 in 292.2 million, according to Powerball.

Powerball tickets are $2 per play. Tickets are sold in 45 states, Washington, D.C., Puerto Rico and the U.S. Virgin Islands.

The drawing will be held Wednesday at 10:59 p.m. ET.

Copyright © 2024, ABC Audio. All rights reserved.