Powerball Jackpot Soars to $681 Million for Wednesday Drawing

The Powerball jackpot has skyrocketed to an estimated $681 million. This is for the next drawing on Wednesday, November 26. It now stands as the third-largest lottery prize of the year. No ticket matched all six numbers on Monday night.

The massive prize has rolled over consistently for weeks. Winners can choose between annuity payments or a hefty lump sum cash option. According to Associated Press reports, the cash value is an estimated $315.7 million before taxes.

Understanding the Odds and Prize Breakdown

Your chances of winning the grand prize are incredibly slim. The odds stand at 1 in 292.2 million. However, the overall odds of winning any prize are a much better 1 in 24.87.

This means many players will win smaller amounts. The most common win is $4 for matching just the Powerball number. Larger prizes come from matching more white balls.

In Monday’s drawing, one ticket in Illinois won $1 million. It matched all five white balls but missed the red Powerball. This keeps the major jackpot growing for the next opportunity.

What Winners Should Know About Claiming the Prize

Winning such a life-changing sum comes with major decisions. The $681 million figure represents the annuity option paid over 29 years. Most winners opt for the immediate cash lump sum, which is significantly lower.

That cash amount is approximately $315.7 million. Federal and state taxes will take a large portion of that. Financial advisors strongly recommend legal and financial planning before coming forward.

The winner has between 90 days to one year to claim the prize, depending on the state where the ticket was purchased. Remaining anonymous is only possible in a handful of states.

The $681 million Powerball jackpot continues a trend of massive lottery rollovers. All eyes will be on Wednesday night’s drawing for a potential multi-millionaire.

Thought you’d like to know

What were the winning numbers from the last Powerball drawing?

The numbers from the Monday, November 24 drawing were 8, 16, 26, 30, 58, and the Powerball was 14. The Power Play multiplier was 2X. No one won the jackpot that night.

What time is the next Powerball drawing?

The next drawing is scheduled for Wednesday, November 26 at 10:59 PM Eastern Time. Drawings are held every Monday, Wednesday, and Saturday at the same time.

How is the Powerball jackpot amount determined?

The jackpot is based on sales and interest rates. A percentage of ticket sales funds the prize pool. If no one wins, the money rolls over, causing the jackpot to grow for the next drawing.

What happens if more than one person wins the jackpot?

If multiple tickets have the winning numbers, the jackpot is split equally among all winners. Each winner can choose between the annuity or cash option independently.

Which states sell Powerball tickets?

Powerball tickets are sold in 45 states, as well as Washington D.C., Puerto Rico, and the U.S. Virgin Islands. The states that do not participate are Alabama, Alaska, Hawaii, Nevada, and Utah.

What is the Power Play option?

For an extra $1 per play, Power Play multiplies non-jackpot prizes by 2, 3, 4, 5, or 10 times. The 10X multiplier is only available when the jackpot is $150 million or less.