The Powerball jackpot stood at an estimated $68 million heading into the Saturday, August 22, drawing, following another drawing without a jackpot winner. No ticket matched all five white balls and the red Powerball in the previous drawing, allowing the top prize to roll over. If Saturday’s drawing also ends without a winner, the jackpot will increase again for the next drawing. Of course, players do not have to match every number to win money. Powerball offers multiple prize tiers, allowing ticket holders to win by matching different combinations of the five white balls and the Powerball.
The $68 million figure represents the annuity value, which would be distributed through 30 annual payments. A jackpot winner could instead select the estimated $29.2 million cash option and receive the prize as a one-time payment. Both figures are listed before federal and any applicable state taxes. The odds of hitting the Powerball jackpot remain extremely long, at approximately 1 in 292.2 million.
