Powerball Jackpot Rises to $1.3 Billion Ahead of Saturday’s Draw

This is the fourth-largest Powerball prize ever and the eighth-largest jackpot of all time.
Cara Smith
By Cara Smith 
Edited by Amanda Derengowski
Powerball Jackpot Reaches $1.23 Billion, Next Drawing on Saturday

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The Powerball jackpot rolled over yet again on Wednesday night and now stands at an estimated $1.3 billion, with its next drawing Saturday, April 6.

At its current size, it's the fourth-largest Powerball prize ever and the eighth-largest jackpot of all time. It tops the $1.13 billion Mega Millions jackpot awarded just a week ago.

That also makes this the second billion-dollar jackpot of 2024, a mark that has become more common in recent years.

How do I play Powerball?

Powerball tickets are sold for $2 apiece in 45 U.S. states, as well as Washington, D.C., Puerto Rico and the U.S. Virgin Islands. To play, pick five numbers between 1 and 69 and a Powerball number from 1 to 26. If you don’t want to pick the numbers yourself, you can get a set of numbers generated for you

If you plan to take part in an office lottery pool, consider taking these precautions.

How much is the next Powerball jackpot?

The current jackpot is estimated at $1.3 billion.

Winners can opt to take their winnings in the form of an annuity or as a single lump sum, known as the cash option. The cash option for the current jackpot is estimated at $608.9 million.

By taking the annuity option, the winner would get the full jackpot advertised by Powerball, but it would be spread out in payments over 30 years.

No matter how lucky you are, you won’t get around paying taxes on a lottery jackpot. After mandatory federal income tax withholding, you’d have about $462.8 million if you took the cash option. How much more you’d pay come tax time can depend on where you bought the ticket — and where you live, if that's another state. To prepare, make sure you know the ins and outs of how the lottery works.

When is the next Powerball drawing?

  • The winning numbers will be drawn Saturday, April 6 at 11 p.m. Eastern Time.

  • If there’s still no jackpot winner, the grand prize will continue to grow.

  • The odds of winning the jackpot are roughly 1 in 292 million.

The jackpot isn’t the only way to win. Both games have prizes for ticket holders whose chosen numbers match the drawing in a variety of combinations.

10 largest lottery jackpots

  • $2.04 billion (Powerball, Nov. 8, 2022 — one winning ticket).

  • $1.765 billion (Powerball, Oct. 11, 2023 — one winning ticket).

  • $1.586 billion (Powerball, Jan. 13, 2016 — three winning tickets).

  • $1.58 billion (Mega Millions, Aug. 8, 2023 — one winning ticket).

  • $1.537 billion (Mega Millions, Oct. 23, 2018 — one winning ticket).

  • $1.348 billion (Mega Millions, Jan. 13, 2023 — one winning ticket).

  • $1.337 billion (Mega Millions, July 29, 2022 — one winning ticket).

  • $1.30 billion (Powerball, pending)

  • $1.13 billion (Mega Millions, March 26, 2024 — one winning ticket).

  • $1.08 billion (Powerball, July 19, 2023 — one winning ticket)

(Photo by Joe Raedle/Getty Images)

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