Powerball jackpot climbs to $875 million, the third-largest on record

The Powerball jackpot has climbed to an estimated $875 million after there were no winners in Wednesday night’s $750 million drawing, which would have marked the sixth-largest prize in the history of the game, according to CBS News. The current jackpot is now the third-largest on record.

The last time the Powerball jackpot was won was on September 4, 2022, when a single ticket in California won the $345 million jackpot. The jackpot has been growing since then, and with no winners in the last few drawings, the prize has now reached an estimated $875 million.

The next drawing is scheduled for Saturday, July 16, 2023, and tickets can be purchased at any participating retailer until the cut-off time, which is usually an hour before the drawing. The odds of winning the Powerball jackpot are 1 in 292.2 million, according to the official Powerball website.

If a single winner were to claim the $875 million jackpot, they could choose to take the prize as a lump sum of $607 million before taxes, or receive the full amount in annual payments over a period of 30 years, according to Fox Business.

The Powerball jackpot has been climbing steadily for months, with the last time it reached such a high amount being in November 2022, when the jackpot climbed to a whopping $1.5 billion, the third-largest lottery prize in U.S. history, according to HuffPost.

As the jackpot continues to climb, people across the country are rushing to purchase tickets and try their luck at winning the massive prize. The Powerball lottery is played in 45 states, as well as the District of Columbia, Puerto Rico, and the U.S. Virgin Islands, making it one of the most widely played lotteries in the United States.

With the current jackpot at $875 million, the excitement and anticipation surrounding the Powerball drawing on Saturday, July 16, 2023, is sure to be