The odds of winning the Powerball jackpot are one in 292.2 million.
Powerball players have a chance at a $643 million jackpot for Wednesday’s drawing after a streak of no big winners continued this week.
Although the dazzling jackpot is indeed a fortune-altering amount, it would not rank among the top 10 largest Powerball jackpots, especially after several recent billion-dollar wins.
The cash option for Wednesday’s jackpot is $290.6 million. That’s the option most winners take, as opposed to the full value paid out as an annuity.
Participants can also win $1 million by matching all five main numbers, with the possibility of doubling this to $2 million if they choose the Power Play option but miss the Powerball.
Winning Powerball Numbers for Wednesday, August 20
Wednesday’s winning numbers were 31-59-62-65-68, Powerball 5. The Power Play was 2x.
Should a player match all five numbers plus the Powerball, they can decide between receiving the entire jackpot spread out over 30 years or choosing a lump-sum cash payment. Most winners typically opt for the cash.
Even with the smaller lump sum payout, federal taxes will eat into those winnings, and some states also tax big lottery prizes.
What are the odds of winning the Powerball?
The likelihood of hitting the Powerball jackpot is one in 292.2 million. The chance of matching all five white balls for the $1 million prize sits at 1 in 11,688,053. The odds of winning any prize are 1 in 24.87.
When is the Powerball drawing?
The Powerball draw occurs live at 10:59 p.m. ET each Monday, Wednesday, and Saturday. Tickets are priced at $2 per play and are available in 45 states, along with the District of Columbia, Puerto Rico, and the U.S. Virgin Islands.
What are the largest Powerball jackpots?
- $2.04 Billion – Nov. 7, 2022 – CA
- $1.765 Billion – Oct. 11, 2023 – CA
- $1.586 Billion – Jan. 13, 2016 – CA, FL, TN
- $1.326 Billion – April 6, 2024 – OR
- $1.08 Billion – July 19, 2023 – CA
- $842.4 Million – January 1, 2024 – MI
- $768.4 Million – March 27, 2019 – WI
- $758.7 Million – Aug. 23, 2017 – MA
- $754.6 Million – Feb. 6, 2023 – WA
- $731.1 Million – Jan. 20, 2021 – MD
