Powerball surges to $1.25 billion as prize creeps towards biggest jackpot of the year

Monday’s numbers were white balls 23, 35, 59, 63, 68 and red Powerball 2. The PowerPlay multiplier was 4.

Iowa Lottery chief executive and Powerball Product Group Chair Matt Strawn said it was rare to have the jackpot amount be so high.

“Powerball has only seen back-to-back to billion-dollar jackpots twice, and this one has arrived just in time for the holidays,” he said.

“While it’s exciting to see the jackpot climb to this level, please remember to play responsibly. A single $2 ticket gives you a chance to win, while also supporting good causes in your community.”

While there was no winner, lotteries are urging players to check their tickets because there are still some substantial cash prizes likely won.

Two tickets, sold in Arizona and California, matched all five white balls to win $1 million prizes. The drawing also produced 43 tickets that won $50,000 prizes and 14 tickets that won $200,000 prizes.

If someone wins Wednesday’s jackpot, they will choose between $1.25 billion spread out over several years or a lump sum payment estimated at $572.1 million, before taxes.

The annuity option means a winner receives one immediate payment followed by 29 annual payments that increase by five per cent each year.

The United States has seen more than a dozen lottery jackpot prizes exceeding the $1 billion threshold since 2016.

The largest winning ticket was a $2.04 billion Powerball in November 2022, the ticket was sold as a Los Angeles-area gas station.

Ahead of a September drawing, financial advisor Rob Wilson spoke to CBS News Philadelphia on how people should manage such a large win of money.

“The biggest thing that you should not do in this situation is go and start bragging about your win,” he said. “I would tell your spouse, your accountant and your attorney, that’s it.”