As hundreds of millions of Americans gather tonight (between Wednesday and Thursday) to mark Christmas Eve, millions of them will be hoping for an early surprise — even before the traditional opening of gifts on Christmas morning — in the form of the Powerball jackpot. After three and a half months without a single winner, the prize has once again ballooned to a staggering $1.7 billion, making it the fourth-largest jackpot in the history of U.S. lottery games. The drawing will take place at 10:59 p.m. Eastern Time (5:59 a.m. Israel time).
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New York City lottery station: $1.70 billion at stake in Powerball
(Photo: Kylie Cooper/Reuters)
The Powerball game is held in 45 U.S. states, as well as Washington, DC, Puerto Rico and the U.S. Virgin Islands. The last time someone successfully matched all six numbers and won the top prize was September 6, and since then 46 consecutive drawings have taken place without a winner.
In recent days, Powerball officials have urged Americans to buy a ticket for the holiday. “Just imagine the stories you could tell your grandchildren and great-grandchildren about the year you woke up on Christmas morning as a billionaire,” said Charlie McIntyre, executive director of the New Hampshire Lottery.
If someone wins the $1.7 billion jackpot overnight, they will have the option of receiving the winnings immediately, but a significant portion would be deducted, leaving them with “only” $781.3 million. Alternatively, they could choose to receive the full amount in installments over 29 years. Most winners typically opt for the lump-sum payment. In addition to the top prize, participants may also win smaller prizes ranging from a few dollars to as much as $2 million.
The odds of winning the Powerball jackpot stand at 1 in 292.2 million — roughly equivalent to flipping a coin 28 times in a row and having it land on heads every time. In the past, the odds were better, at 1 in 175 million, but in 2015 the game’s administrators made changes that reduced the chances of winning. As a result, massive jackpots now accumulate from time to time, propelling Powerball into headlines around the world. Since 2016, there have already been more than 10 occasions in which a U.S. lottery jackpot exceeded $1 billion. The largest prize of all, $2.04 billion, was awarded in 2022.
In fact, a colossal jackpot was also awarded the last time players correctly guessed all six Powerball numbers, on September 6, when the prize reached $1.787 billion — the second-largest in U.S. history. That jackpot was split between two winners from Missouri and Texas.