The estimated Powerball lottery jackpot has increased to $1.8 billion, making it the second-largest jackpot in U.S. lottery history.
If the Powerball jackpot is won, the ticket holder will have the choice between an annuitized prize estimated at $1.8 billion or a lump sum payment estimated at $826.4 million. Both prize options are before taxes. If the winner selects the annuity option, they will receive one immediate payment followed by 29 annual payments that increase by 5 percent each year.
“Excitement is building as players look forward to tomorrow night’s drawing for this historic jackpot,” said Matt Strawn, Powerball product group chair and Iowa Lottery CEO.
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Players might stay up late Saturday night for the winning numbers; the drawing is scheduled for 10:59 p.m.
The multi-state game was last won on May 31. Tickets are sold in 45 states, the District of Columbia, Puerto Rico and the U.S. Virgin Islands.
All Virginia Lottery profits go to K-12 education in Virginia.
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Crystal Graham
