URBANDALE, Ia. – The Powerball jackpot has been increased to $1 billion for Saturday night’s drawing.
Official announced the increase Friday after a review of national ticket sales.
This is the sixth Powerball jackpot to eclipse the $1 billion mark in the game’s 33-year history.
“we’re bringing excitement to Labor Day Weekend with Powerball jackpot that’s climbed to a billion dollars, ” said Matt Strawn, Powerball Product Group Chair and Iowa Lottery CEO. “For just $2, every ticket has a chance to win big, while also giving back to public programs and services that benefit communities wherever Powerball is played.”
Saturday’s drawing will be the 39th since the Powerball jackpot was last won May 31 in California.
If a player wins Saturday’s jackpot, they will have the choice between an annuitized prize estimated at $1 billion or a lump sum payment estimated at $453.1 million. Both prize options are before taxes.
If the winner selects the annuity option, they will receive one immediate payment followed by 29 annual payments that increase by five-percent per year.
Powerball drawings are every Monday, Wednesday and Saturday at 9:59 p.m. CT from the Florida Lottery draw studio in Tallahassee, Florida.
Powerball ticket sales, in Illinois, cut off at 9 p.m. the night of the drawing.
Powerball drawings are live streamed HERE.
