Powerball Jackpot Reaches $500 Million for Saturday Drawing

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September 07, 2023 – The Powerball® jackpot has reached the half billion dollar mark for the third time this year! The jackpot has grown to an estimated $500 million ($242.4 million cash value) for the next drawing on Saturday, Sept. 9.

The Powerball jackpot was last hit in the July 19 drawing, when a single ticket in California matched all five white balls and the red Powerball to win a grand prize worth $1.08 billion. Since then, there have been 21 consecutive drawings without a jackpot winner.

The latest jackpot run has produced dozens of big winners across the country, including 21 tickets that matched all five white balls to win $1 million prizes, and six tickets that matched all five white balls and won $2 million prizes by including Power Play®, the prize multiplier feature that can be added to a Powerball ticket for an additional $1 dollar per play.

If a player wins the jackpot on Saturday night, they will have the choice between an annuitized prize worth an estimated $500 million or a lump sum payment estimated at $242.4 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% each year.

Powerball tickets are $2 per play. Tickets are sold in 45 states, the District of Columbia, Puerto Rico and the U.S. Virgin Islands. More than half of all proceeds from the sale of a Powerball ticket remain in the jurisdiction where the ticket was sold. Powerball drawings are broadcast live every Monday, Wednesday and Saturday at 10:59 p.m. EST from the Florida Lottery draw studio in Tallahassee. Powerball drawings are also live streamed on Powerball.com.

The overall odds of winning a prize are 1 in 24.9. The odds of winning the jackpot are 1 in 292.2 million.

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