A Powerball jackpot has surged to $1.1 billion for Monday’s drawing,offering players a choice between a massive annuity or a nearly half-billion-dollar cash prize,after no winning ticket was drawn Saturday night. This marks the largest Powerball jackpot of 2024 and the second-largest in the game’s history.
The billion-dollar prize comes as Americans celebrate Labor Day, presenting a rare opportunity to win a life-altering sum. winners can opt for the full $1.1 billion paid out over 30 years,with increasing annual installments,or a lump-sum payment of $498.4 million. The drawing will be the 40th since the last jackpot win on May 31 in California.
“America has waited all year for the chance to play for a billion-dollar jackpot,” said Matt Strawn, Powerball Product Group Chair and Iowa Lottery CEO.
The annuity option provides an initial payment followed by 29 annual payments that increase by 5% each year, according to the Multi-State Lottery Association, which manages the game. The current jackpot follows a recent stretch without a winner, though it remains two drawings shy of the record 42 consecutive drawings set in April 2024.
The largest Powerball jackpot ever reached $2.04 billion, won in California on November 7, 2022. Powerball tickets are $2 each and available for purchase in 45 states,Washington,D.C., Puerto Rico, and the U.S. Virgin Islands.
