What is the current jackpot prize for Powerball?
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COLUMBIA, S.C. — The Powerball jackpot continues to rise.
Powerball announced Friday the jackpot for Saturday's drawing is $630 million, up from $620 million earlier. That is for the 30 year annuity option--the lump sum cash payout is $450 million.
Most winners typically chose to take the winnings all at once, rather than the annual payout.
The odds of selecting all six balls correctly to win the jackpot are 1 in 292.2 million.
The game has gone without a grand prize winner for almost four months, with the last time a person hitting the jackpot on June 5.
Even if someone wins it all on Saturday, it won't be the largest jackpot this year. Back in January, a Maryland group who nicknamed themselves “The Power Pack” won $731.1 million, which was the fourth-largest Powerball jackpot. They chose the $546.8 million lump sum cash option – approximately $366.6 million after federal and state taxes.
Last month, Powerball added a Monday drawing to its weekly lineup of Wednesday and Saturday evening drawings. At the time of the announcement, Powerball proclaimed the addition of the Monday drawing would lead to "larger, faster-growing jackpots."
The Powerball website says game sales are usually stronger for a Saturday drawing versus a Wednesday or Monday drawing, which means the jackpot will be pushed higher on those days.
