Odds of winning $1.6B Powerball jackpot as Monday’s drawing reaches historic heights

The winner can opt for a lump-sum payment estimated at $735.3 million or an annuitized prize estimated at $1.6 billion

The Powerball jackpot has soared to an estimated $1.6 billion, making it one of the largest lottery prizes in U.S. history.

The massive sum is up for grabs after no ticket matched all six winning numbers in Saturday’s draw — white balls 4, 5, 28, 52, 69 and red Powerball 20.

That sets up the fifth-largest U.S. jackpot ever for Monday's drawing, according to a news release from Powerball.

The biggest U.S. jackpot was $2.04 billion in 2022. The winner bought the ticket in California and opted for a lump-sum payment of $997.6 million.

The odds of winning Monday's jackpot, which is the fourth-largest in Powerball history, are 1 in 292.2 million, according to Powerball.

The annuity option offers one immediate payment followed by 29 annual payments that increase by 5% each year (AP Photo/George Walker IV)

The winner can opt for a lump-sum payment estimated at $735.3 million or an annuitized prize estimated at $1.6 billion.

Both prize options are before taxes.

The annuity option offers one immediate payment followed by 29 annual payments that increase by 5% each year, Powerball said.

Powerball is available in 45 states, Washington, D.C., Puerto Rico and the U.S. Virgin Islands. It is overseen by the Multi-State Lottery Association, a nonprofit group made up of state lotteries.

Profits from ticket sales are used by states to support public education and other services.