Massive sales triggers jackpot increase to #1 all-time

3rd-largest cash value in history

By Todd Northrop

Due to a ticket-buying frenzy for Saturday's Powerball drawing, the Multi-State Lottery Association (MUSL) has raised the official Powerball lottery jackpot estimate to $1.6 billion, setting the record for the largest lottery jackpot in history.

The all-important lump-sum cash value of the jackpot has been raised to $782.4 million, which is the third-largest lottery cash value of all time. The top-25 annuity and cash value jackpots are listed below.

The Powerball drawing will be conducted Saturday night at 10:59 pm Eastern Time (7:59 pm Pacific).  The mammoth grand prize started at $20 million on Aug. 6, and is the result of 39 drawings with no jackpot winner.

After the Wednesday evening Powerball drawing, when it was determined that there were no jackpot winners, the new jackpot estimate for Saturday was set at $1.5 billion, with a cash value of $745.9 million. The lottery sets the initial estimates based on what they conservatively believe the ticket sales will be prior to the next drawing. When it becomes clear that actual ticket sales are vastly outstripping the initial projections, the lotteries raise the jackpot estimate accordingly — as they did today.

It is quite possible that by the time the drawing occurs tomorrow night, the jackpot will be further increased. The final jackpot tally is announced during the live drawing show.

You can weight the tax consequences of that choice state-by-state by visiting the Jackpot Analysis page at USA Mega, a web site devoted to the Powerball and Mega Millions multi-state lottery games. The feature calculates both the initial withholdings and the final tax burden due at the end of the year, and even can show taxes calculated for different IRS filing statuses.

Lottery players seeking to check the winning numbers Saturday night are urged to use USA Mega (www.usamega.com).  State lottery websites are normally brought to a standstill during busy periods, while USA Mega normally remains responsive.

Players looking for a nearby lottery retailer — or that out-of-the-way retailer with a smaller line — are encouraged to use Lottery Places, an app for iOS, Android, and Windows that can locate the nearest lottery retailers in every jurisdiction that sells Powerball and Mega Millions. The helpful app can locate lottery stores in the United States, the United Kingdom, Mexico, much of Canada, and the Caribbean.

Some states offer direct online sales, allowing players to bypass the store and purchase tickets from home. States that offer this ability include Colorado (Mega Millions and Powerball), Michigan (Mega Millions and Powerball), Minnesota (Mega Millions and Powerball), Oregon (Mega Millions and Powerball), Texas (Mega Millions and Powerball), and Virginia (Mega Millions and Powerball). Note that some of these links will only work properly for residents of the states mentioned.

Players outside the USA can use a reputable butler service, which provides scanned copies of the purchased lottery tickets securely held on behalf of the customer. In the past, the lottery ticket service was used by people out side the USA to win big jackpots in Oregon and Florida.

Powerball drawing results will be posted immediately after the 10:59 pm drawing at USA Mega. The number of winners and new jackpot will be announced after all participating Powerball states have reported their data, which normally occurs within a couple of hours after the drawing.

Players are advised not to wait until the last minute to buy tickets, as the ticket cutoff time varies between states.

The odds of winning the jackpot are approximately 1 in 292 million. The odds of winning any of the Powerball prizes are approximately 1 in 25.

Powerball tickets cost $2 each.

Powerball features nine different prize levels, ranging from $4 all the way up to the jackpot. Players can win even if they just match one number — the Powerball number.

All states except California also offer the Power Play option for an extra $1 per ticket purchased. The Power Play multiplies any non-jackpot prizes won by the Power Play number drawn that evening.

Players who purchase the Power Play and win second prize will automatically have their prize increased by 2x to $2 million.

According to the Texas Lottery, if there's no winner for tomorrow night's drawing, the next estimated jackpot for Powerball will be $1.9 billion.

Top 25 United States lottery jackpots of all time

Saturday's Powerball jackpot currently stands as the largest lottery jackpot of all time worldwide.

1. Powerball: $1.6 billion, Nov. 5, 2022 (39 rollovers, starting at $20 million) - Prelimiary estimate, not won yet
2. Powerball: $1.5864 billion, Jan. 13, 2016 (19 rollovers, starting at $40 million) - California, Florida, Tennessee
3. Mega Millions: $1.537 billion, Oct. 23, 2018 (25 rollovers, starting at $40 million) - South Carolina
4. Mega Millions: $1.337 billion, Jul. 29, 2022 (29 rollovers, starting at $20 million) - Illinois
5. Mega Millions: $1.05 billion, Jan. 22, 2021 (36 rollovers, starting at $20 million) - Michigan
6. Powerball: $768.4 million, Mar. 27, 2019 (25 rollovers, starting at $40 million) - Wisconsin
7. Powerball: $758.7 million, Aug. 23, 2017 (20 rollovers, starting at $40 million) - Massachusetts
8. Powerball: $731.1 million, Jan. 20, 2021 (35 rollovers, starting at $20 million) - Maryland
9. Powerball: $699.8 million, Oct. 4, 2021 (40 rollovers, starting at $20 million) - California
10. Powerball: $687.8 million, Oct. 27, 2018 (21 rollovers, starting at $40 million) - Iowa, New York
11. Mega Millions: $656 million, Mar. 30, 2012 (18 rollovers, starting at $12 million) - Illinois, Kansas, Maryland
12. Mega Millions: $648 million, Dec. 17, 2013 (21 rollovers, starting at $12 million) - California, Georgia
13. Powerball: $632.6 million, Jan 5, 2022 (39 rollovers, starting at $20 million) - California, Wisconsin
14. Powerball: $590.5 million, May 18, 2013 (13 rollovers, starting at $40 million) - Florida
15. Powerball: $587.5 million, Nov. 28, 2012 (15 rollovers, starting at $40 million) - Arizona, Missouri
16. Powerball: $564.1 million, Feb. 11, 2015 (20 rollovers, starting at $40 million) - North Carolina, Puerto Rico, Texas
17. Powerball: $559.7 million, Jan. 6, 2018 (20 rollovers, starting at $40 million) - New Hampshire
18. Mega Millions: $543 million, Jul. 24, 2018 (22 rollovers, starting at $40 million) - California
19. Mega Millions: $536 million, Jul. 8, 2016 (34 rollovers, starting at $15 million) - Indiana
20. Mega Millions: $533 million, Mar. 30, 2018 (23 rollovers, starting at $40 million) - New Jersey
21. Mega Millions: $522 million, Jun. 7, 2019 (24 rollovers, starting at $40 million) - California
22. Mega Millions: $516 million, May 21, 2021 (26 rollovers, starting at $20 million) - Pennsylvania
23. Mega Millions: $502 million, Oct. 14, 2022 (21 rollovers, starting at $20 million) - California, Florida
24. Powerball: $487 million, Jul. 30, 2016 (23 rollovers, starting at $40 million) - New Hampshire
25. Powerball: $473.1 million, Apr. 27, 2022 (30 rollovers, starting at $20 million) - Arizona

The number of jackpots in the top 25, by lottery game, are:

• Powerball: 14
• Mega Millions: 11

Top 25 cash value jackpots

Since many lottery winners collect their winnings in cash, the lump-sum payout is an important measure of what a winning ticket could be worth.

Looking at the cash value, the upcoming Powerball jackpot ranks as the 3rd-largest cash value in history.

1. Powerball: $983.5 million cash, Jan. 13, 2016 ($1.5864 billion annuity) - California, Florida, Tennessee
2. Mega Millions: $877.8 million cash, Oct. 23, 2018 ($1.537 billion annuity) - South Carolina
3. Powerball: $782.4 million cash, Nov. 5, 2022 ($1.6 billion annuity) - Prelimiary estimate, not won yet
4. Mega Millions: $780.5 million cash, Jul. 29, 2022 ($1.337 billion annuity) - Illinois
5. Mega Millions: $776.6 million cash, Jan. 22, 2021 ($1.05 billion annuity) - Michigan
6. Powerball: $546.8 million cash, Jan. 20, 2021 ($731.1 million annuity) - Maryland
7. Powerball: $496 million cash, Oct. 4, 2021 ($699.8 million annuity) - California
8. Powerball: $480.5 million cash, Aug. 23, 2017 ($758.7 million annuity) - Massachusetts
9. Powerball: $477 million cash, Mar. 27, 2019 ($768.4 million annuity) - Wisconsin
10. Mega Millions: $471 million cash, Mar. 30, 2012 ($656 million annuity) - Illinois, Kansas, Maryland
11. Powerball: $450.2 million cash, Jan. 5, 2022 ($632.6 million annuity) - California, Wisconsin
12. Powerball: $396.2 million cash, Oct. 27, 2018 ($687.8 million annuity) - Iowa, New York
13. Powerball: $384.7 million cash, Nov. 28, 2012 ($587.5 million annuity) - Arizona, Missouri
14. Powerball: $381.1 million cash, Feb. 11, 2015 ($564.1 million annuity) - North Carolina, Puerto Rico, Texas
15. Mega Millions: $378 million cash, Jul. 8, 2016 ($536 million annuity) - Indiana
16. Powerball: $370.9 million cash, May 18, 2013 ($590.5 million annuity) - Florida
17. Powerball: $352 million cash, Jan. 6, 2018 ($559.7 million annuity) - New Hampshire
18. Mega Millions: $349.3 million cash, May 21, 2021 ($516 million annuity) - Pennsylvania
19. Mega Millions: $347.6 million cash, Dec. 17, 2013 ($648 million annuity) - California, Georgia
20. Powerball: $341.7 million cash, Jul. 30, 2016 ($487 million annuity) - New Hampshire
21. Mega Millions: $340 million cash, Jun. 7, 2019 ($522 million annuity) - California
22. Mega Millions: $324 million cash, Mar. 30, 2018 ($533 million annuity) - New Jersey
23. Mega Millions: $320.5 million cash, Jul. 24, 2018 ($543 million annuity) - California
24. Mega Millions: $319.9 million cash, Jun. 9, 2020 ($414 million annuity) - Arizona
25. Mega Millions: $314.4 million cash, Sep. 21, 2021 ($431 million annuity) - New York

The number of jackpot cash values in the top 25, by lottery game, are:

• Mega Millions: 13
• Powerball: 12