Lottery enthusiasts have a chance to win an estimated $1.7 billion Powerball jackpot in the upcoming drawing on December 20, 2023, following a week without a grand prize winner. The last drawing, held on December 18, saw the winning numbers as 3, 18, 36, 41, and 54, with a Powerball of 7 and a Power Play multiplier of two. This multiplier allowed winners to double their smaller prizes if they opted to pay an additional $1.
This upcoming jackpot marks the fourth largest in Powerball history and is the second largest of 2023, closely trailing September’s drawing, which awarded approximately $1.787 billion shared between winners in Missouri and Texas. Historically, Powerball has produced some of the most substantial jackpots in the United States, including a record-setting $2.04 billion in 2022.
The current jackpot has been steadily increasing over a record-setting sequence of 46 drawings, with the upcoming event set to be the 47th. Although no one claimed the jackpot in the last drawing, nine tickets matched all five white balls, each securing a prize of $1 million. These winning tickets were sold across several states, including Florida, Georgia, Illinois, New York, Ohio, Pennsylvania, Tennessee, and Wisconsin.
According to Powerball, there is a notable trend of jackpot wins occurring on Christmas Eve or Christmas Day. Nevertheless, none of these previous jackpots have ever exceeded the billion-dollar mark. If a ticket holder claims the current jackpot, it will be the first instance of a Christmas win surpassing $1 billion.
It’s important to note that winners will not receive the full $1.7 billion. Both the jackpot amount and the estimated lump sum of $781.3 million are before tax deductions. While several states do not impose taxes on lottery winnings, jackpot winners typically have two payment options: they can choose an annuitized prize plan, which includes one upfront payment followed by 29 yearly payments that increase by 5%, or they can take a lump sum payout. Most winners opt for the lump sum.
While the prospect of winning is enticing, the odds of claiming the jackpot stand at a staggering 1 in 292.2 million. However, the chances improve for smaller prizes, with some starting as low as $4. Tickets for the Powerball drawing are priced at $2. Drawings are conducted every Monday, Wednesday, and Saturday at 22:59 ET.
As the holiday season approaches, hopeful players are eager to test their luck in pursuit of a life-changing win.
