January 10, 2024 2 min read

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Powerball Jackpot Grows Ahead of Upcoming Drawing

The jackpot from the popular lottery game is estimated at $60 million or $29.7 million in cash for the drawing on Wednesday

The New Year’s Powerball drawing made one lucky player from Michigan significantly wealthy. At the time, one lucky lottery player hit the life-changing $842 million Powerball jackpot by guessing correctly all white balls 12, 21, 42, 44, 49 and red Powerball 1. If the lucky player selects a cash payout, he will be able to pocket some $425.2 million.

Now, a week later, the jackpot from the Powerball continues to grow. The drawing on Monday saw nobody guess correctly all white balls which were 7, 17, 28, 40, 45 and red Powerball 2.

After surviving the drawing on Monday, the jackpot from Powerball is estimated at $60 million for the upcoming draw scheduled for Wednesday. The cash option if a person guesses correctly all winning numbers and secures the jackpot is a mouth-watering $29.7 million, far from the $60 million but still life-changing.

Besides the jackpot from Powerball, a billion-dollar jackpot from Mega Millions was claimed recently. The jackpot, a staggering $1.6 billion was won from the game’s drawing back in August. At the end of last month, the Florida Lottery confirmed that the jackpot prize was claimed by a company called Saltines Holdings, LLC. Instead of selecting monthly payments, the company chose to receive a lump sum payment of nearly $795 million.

No Million-Dollar Prize Won from Monday’s Powerball Drawing

The latest drawing of the Powerball drawing saw nobody secure the grand prize but there was no one who collected a seven-digit prize too. Guessing all five white winning numbers would’ve granted a player a $1 million prize.

From the drawing on Monday, eight lucky lottery players guessed correctly all five white balls. This granted them a $50,000 prize each, while one user secured a $150,000 Power Play prize.

Some 175 lottery players won a $100 prize each by guessing correctly four white balls, while 66 winners collected a $300 Power Play prize each. It’s no surprise that the largest number of winners collected $4 each for guessing the red Powerball, a total of 136,098. Some 52,011, who guessed the red Powerball from the latest drawing secured $12 each.

The odds of winning the Powerball jackpot are 1 in 292.2 million. The overall odds of winning a prize from the game are 1 in 24.9.

Co-editor

William Velichkov is a research-driven writer. His strengths lie in ensuring factual accuracy, vetting government documentation and reaching out to regulators and other officials. He is particularly fond of financial reporting, the sports betting industry, B2B partnerships and esports betting developments. William is a strong asset to the GamblingNews team as he adds a bedrock to our reporting.

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