The latest Powerball jackpot is still up for grabs and is expected to reach $1.6 billion Monday, propelling it into the top four of the largest jackpots in the game’s history, officials said Sunday.
On Saturday, players failed to match all six winning numbers — white balls 4, 5, 28, 52, 69 and red Powerball 20. The projected jackpot becomes the game’s fourth-largest prize and is closing in on the $1.787 billion won by ticketholders in Missouri and Texas in September.
Although not a jackpot winner, one ticket buyer in Southern California secured a $2.3-million prize on Saturday by matching all five white balls but not the Powerball. The winning ticket was sold at Wright’s Market at 261 Ventura Blvd. in Oxnard. The market earned more than $11,500 for selling that ticket.
The record-high Powerball jackpot of $2.04 billion was sold in Altadena on Nov. 7, 2022. Rounding out the top five: the $1.787-billion jackpot on Sept. 6; a $1.765-billion prize won in California on Oct. 11, 2023; the current $1.6-billion jackpot; and $1.586 billion won on Jan. 13, 2016, in California, Florida and Tennessee.
According to game officials, this marks the second time there have been back-to-back Powerball jackpots exceeding $1 billion. In 2023, the $1.765-billion jackpot and a $1.08-billion prize were won in California within a four-month span.
The possible winner of Monday’s draw could choose between an annuitized prize of $1.6 billion or a lump sum of $735.3 million before taxes; if the winner is in California, state taxes are not imposed. If the winner chooses the $1.6 billion, they will receive one immediate payment followed by 29 annual payments that increase by 5% each year, game officials said in a news release Sunday.
The lump sum could be reduced to about $558.8 million after the 24% initial withholding, which is commonly imposed on prizes of $5,000 or more, according to the Internal Revenue Service. Additional taxes may be imposed.
The odds of winning, however, remain astronomically small — at just 1 in 292.2 million, officials said.
Powerball tickets cost $2 to play, and drawings take place on Mondays, Wednesdays and Saturdays.
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