Powerball Jackpot Surges to $1.7 Billion Ahead of Christmas Eve Draw

The U.S. Powerball jackpot has surged to an estimated $1.7 billion, making it one of the largest in American history. While no winners emerged from Monday's draw, nine tickets won $1 million prizes. The jackpot could be received as an annuity or a $781.3 million cash payout.

The U.S. Powerball jackpot has skyrocketed to an estimated $1.7 billion in anticipation of the Christmas Eve draw scheduled for Wednesday night. This colossal sum ranks among the largest lottery prizes in the nation's history. During Monday night's drawing, no one selected the winning numbers, which were 3, 18, 36, 41, 54, with the Powerball number 7. However, across the nation, nine lucky ticket holders claimed $1 million prizes.

The upcoming winner on Wednesday could opt for an annuitized payout of $1.7 billion spread over 29 years or choose a lump sum of $781.3 million after taxes. This jackpot represents the fourth largest in Powerball's extensive history. The draw will occur at 10:59 p.m. ET on Wednesday (0359 GMT Thursday), though the chance of winning the jackpot remains incredibly slim at 1 in 292.2 million.

The record for the largest lottery jackpot in U.S. history was set by a $2.04 billion Powerball win in California in 2022. Massive jackpots typically lead to increased ticket sales, thereby boosting state lottery revenues used for education and other public services.

(With inputs from agencies.)