Powerball Jackpot Leaps to a Massive $1.3 Billion After Labor Day
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NEED TO KNOW
- The Powerball jackpot has leapt to an incredible $1.3 billion after there were no big winners on Labor Day, Sep. 1
- Despite nobody scooping the biggest prizes, at least two tickets that were purchased in Montana and North Carolina won $2 million, and 10 tickets spread across California, Florida, Kentucky, Massachusetts, Michigan, New Jersey, New York, Pennsylvania, and Virginia won $1 million prizes
- The next draw will take place on Wednesday, Sep. 3
The Powerball jackpot has reached a staggering value.
On Tuesday, Sept. 2, the Multi-State Lottery Association announced in a press release that the prize money has grown to $1.30 billion after there were no big winners on Labor Day.
“The Powerball jackpot climbed higher after no ticket matched all six numbers drawn last night – white balls 8, 23, 25, 40, 53 and red Powerball 5. The Power Play® multiplier was 3,” the release read.
Despite nobody scooping the largest prizes, at least two tickets that were purchased in Montana and North Carolina won $2 million and 10 tickets across California, Florida, Kentucky, Massachusetts, Michigan, New Jersey, New York, Pennsylvania and Virginia won $1 million prizes, the association confirmed.
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The evening of Wednesday, Sep. 3, will see the next drawing take place with the jackpot having an estimated cash value of $589.0 million.
The jackpot will be marked as the fifth-largest in the Powerball game history and the ninth-largest in the history of U.S. lottery jackpot games.
It will also be the 41st drawing since the last jackpot win in California on May 31, 2025, per the release.
“To date, the longest Powerball jackpot run has been 42 consecutive drawings, which was set on April 6, 2024, with a $1.326 billion jackpot winner in Oregon,” officials said.
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If anybody scoops Wednesday’s jackpot, they can either receive “an annuitized prize estimated at $1.30 billion or a lump sum payment estimated at $589.0 million,” with both values being before taxes.
The annuitized prize will provide the winner with an immediate payment followed by 29 annual payments with a five percent increase each year.
“The overall odds of winning a prize are 1 in 24.9. The odds of winning the jackpot are 1 in 292.2 million,” the association said.
People can buy Powerball tickets for $2 per play. They are sold in 45 states, the District of Columbia, Puerto Rico, and the U.S. Virgin Islands.
The largest jackpot win was California’s $2.04 billion prize on Nov. 7, 2022.
Credit to Nypost AND Peoples
