Powerball Jackpot Raised to $700 Million for December 27 Drawing

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December 27, 2023 – With two Powerball® drawings remaining until the New Year, the jackpot that’s been growing over the holidays just got even bigger! Game leaders raised the Powerball jackpot Wednesday morning from an estimated $685 million to $700 million, citing strong ticket sales. The jackpot has an estimated cash value of $352.3 million.

With the increase, the estimated jackpot now ranks as the ninth largest in the Powerball game. The next Powerball drawing is Wednesday, December 27 at 10:59 p.m. EST. Ticket sale cut-off times vary by jurisdiction, but typically occur 1-2 hours before the scheduled draw time.

“This Powerball jackpot is climbing the charts and it’s anyone’s guess whether our next big winner will be made in 2023 or the New Year,” said Drew Svitko, Powerball Product Group Chair and Pennsylvania Lottery Executive Director. “This is a fun time to get into the game, especially over the holidays when you can dream big with family and friends. Please, remember to play responsibly. It only takes one ticket to win.”

If a player wins the jackpot in tonight’s drawing, they will have the choice between an annuitized prize worth an estimated $700 million or a lump sum payment estimated at $352.3 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-percent each year.

This is the fourth Powerball jackpot to exceed half a billion dollars this calendar year. The Powerball jackpot was previously won on Oct. 11 when a ticket in California won a $1.765 billion grand prize. Since then, there have been 32 consecutive drawings without a jackpot winner.

While there was no jackpot winner in last Monday’s drawing, five tickets nationwide won prizes worth $1 million or more. Three tickets, sold in California, New Hampshire, and Pennsylvania, matched all five white balls to win $1 million prizes. Note: In California, prize payout amounts are pari-mutuel and determined by sales and the number of winners. Two tickets, sold in Colorado and Georgia, matched all five white balls and increased the $1 million prize to $2 million by including the Power Play® feature for an additional $1 per play. There were also 45 tickets that won $50,000 prizes and 16 tickets that won $100,000 prizes.

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.

2023 Powerball Jackpots

  • Feb. 6, 2023 – $754.6 million – WA
  • March 4, 2023 – $162.2 million – VA
  • April 19, 2023 – $252.6 million – OH
  • July 19, 2023 – $1.08 billion – CA
  • Oct. 11, 2023 – $1.765 billion – CA

Top 10 Powerball Jackpots

  1. $2.04 Billion – Nov. 7, 2022 – CA
  2. $1.765 Billion – Oct. 11, 2023 – CA
  3. $1.586 Billion – Jan. 13, 2016 – CA, FL, TN
  4. $1.08 Billion – July 19, 2023 – CA
  5. $768.4 Million – March 27, 2019 – WI
  6. $758.7 Million – Aug. 23, 2017 – MA
  7. $754.6 Million – Feb. 6, 2023 – WA
  8. $731.1 Million – Jan. 20, 2021 – MD
  9. $700 Million (est.) – Dec. 27, 2023
  10. $699.8 Million – Oct. 4, 2021 – CA

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