Powerball lottery: what is the biggest jackpot in history?
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(CNN) --
The Powerball jackpot estimate rose Friday morning to a record $1.6 billion for the drawing on Saturday, Nov. 5, the world's largest lottery prize ever offered, according to a statement from Powerball.
Saturday's jackpot has a cash value of $782.4 million.
It tops the world record amount previously set by Powerball in 2016, when tickets in California, Florida and Tennessee won a $1.586 million jackpot, according to the release.
If you win the Powerball, how much do you pay in taxes and how much do you take with you?
The drawing will take place at the Florida Lottery drawing studio in Tallahassee at 10:59 pm ET on Saturday, November 5.
If no one wins Saturday's drawing, it will tie the record for the number of consecutive drawings without a grand prize winner.
“This Powerball game offers exactly what our players want,” said Drew Svitko, President of the Powerball Products Group and CEO of the Pennsylvania Lottery.
“We are witnessing history unfold with this $1.6 billion jackpot!
What's also exciting is that this race has already created millions of winners, including nearly 100 players who have won prizes worth $1 million or more.”
How likely are you to win the Powerball?
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The top 10 Powerball jackpots have been as follows:
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$1.6 billion (approx.) – November 5, 2022
$1.586 million – January 13, 2016 – California, Florida, Tallahassee
$768.4 million – March 27, 2019 – Wisconsin
$758.7 million – August 23, 2017 – Massachusetts
$731.1 million – January 20, 2021 – Maryland
$699.8 million – October 4, 2021 – California
$687.8 million – October 27, 2018 – Iowa, New York
$632.6 million – January 5, 2022 – California, Wisconsin
$590.5 million – May 18, 2013 – Florida
$587.5 million – November 28, 2012 – Arizona and Missouri
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