Powerball jackpot now $875 million, 3rd largest: When is next drawing? What is cash payout?

There was no Powerball winner again this week and that means the jackpot just keeps growing.

The jackpot has grown to an estimated $875 million for the next drawing on Saturday, July 15. The cash option is an estimated $441.9 million.

The jackpot currently ranks as the third largest Powerball jackpot, only behind the world record $2.04 billion Powerball jackpot won last year, and the $1.586 billion Powerball jackpot won in 2016.

The Powerball jackpot rolled Wednesday night after no ticket matched all six numbers drawn – white balls 23, 35, 45, 66, 67 and red Powerball 20. The Power Play multiplier was 3X.

While there was no jackpot winner, the Powerball drawing produced more than 1.8 million winning tickets, with players winning lower-tier cash prizes worth a combined $16.5 million.

The Powerball jackpot was last hit in the April 19, 2023 drawing, when a ticket in Ohio matched all five white balls and the red Powerball to win a grand prize worth $252.6 million. Since then, there have been 36 consecutive drawings without a jackpot winner.

If a player wins the jackpot Saturday night, they will have the choice between an annuitized prize worth an estimated $875 million or a lump sum payment estimated at $441.9 million, before taxes.

Powerball tickets are $2 per play. Tickets are sold in 45 states but not in Alabama. Powerball drawings are broadcast live every Monday, Wednesday and Saturday at 10:59 p.m. EST (9:59 p.m. CT) from the Florida Lottery draw studio in Tallahassee and 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.

Top 10 Powerball Jackpots

$2.04 Billion – Nov. 7, 2022 – CA
$1.586 Billion – Jan. 13, 2016 – CA, FL, TN
$875 Million (est.) – July 15, 2023
$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
$699.8 Million – Oct. 4, 2021 – CA
$687.8 Million – Oct. 27, 2018 – IA, NY
$632.6 Million – Jan. 5, 2022 – CA, WI