Powerball Christmas Eve Jackpot Hits Estimated $1.7 Billion, 4th Largest in U.S.

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Powerball Christmas Eve Jackpot Hits Estimated $1.7 Billion, 4th Largest in U.S.

As Christmas Eve approaches, the Powerball jackpot has swelled to an estimated $1.7 billion. This figure ranks as the fourth largest jackpot in the history of both the Powerball and U.S. lottery. The previous jackpot of $1.6 billion saw no winners in Monday’s draw.

Record-Breaking Powerball Jackpot Details

The winning numbers from the last drawing were 3, 18, 36, 41, and 54, with a Powerball of 7. The prize for the upcoming drawing on Wednesday is set for a lump sum cash option of approximately $781.3 million.

Historical Context and Winning Trends

Powerball, launched in 1992, has seen significant growth in jackpots over the years. Only once has a jackpot been won on Christmas Eve, in 2011. Additionally, there have been four instances of winners on Christmas Day.

This current drawing is notable as it marks the 47th in the ongoing jackpot cycle, establishing a new record for the highest number of draws in any Powerball jackpot run.

Winning Conditions and Payment Options

To win the jackpot, players must match all five white balls and the red Powerball.
Winners can choose between a lump sum payment or an annuity consisting of one immediate payment followed by 29 increasing annual payments.

It’s essential to note that both payment options are before taxes are applied.

Recent Jackpot History

The last time a jackpot was claimed occurred on September 6, when two tickets, sold in Missouri and Texas, shared a massive prize of $1.787 billion. This marked just the second instance in Powerball history of back-to-back jackpots exceeding $1 billion.

In 2022, a single ticket sold in Altadena, California, claimed the largest jackpot in Powerball history at $2.04 billion.

Winning Odds and Ticket Sales

The odds of winning the grand prize stand at 1 in 292.2 million. Tickets are priced at $2 and are available in 45 states, as well as in the District of Columbia, Puerto Rico, and the U.S. Virgin Islands. Drawings are held every Monday, Wednesday, and Saturday at 11 p.m. ET.