NEW YORK (WABC) — The estimated Powerball jackpot has jumped to $550 million ahead of Wednesday night’s drawing.
The current jackpot has an estimated cash value of $266 million.
The Powerball jackpot grows based on game sales and interest, but the odds of winning the big prize stays the same — 1 in 292.2 million.
Jackpot winners can either take the money as an immediate cash lump sum or in 30 annual payments over 29 years. Both advertised prize options do not include federal and jurisdictional taxes.
All winning tickets must be redeemed in the jurisdiction in which they are sold.
Here is a look at the 10 largest U.S. jackpots that have been won and the states where the winning tickets were sold:
1. $2.04 billion, Powerball, Nov. 8, 2022 (one ticket, from California)
2. $1.586 billion, Powerball, Jan. 13, 2016 (three tickets, from California, Florida, Tennessee)
3. $1.537 billion, Mega Millions, Oct. 23, 2018 (one ticket, from South Carolina)
4. $1.35 billion, Mega Millions, Jan. 13, 2023 (one ticket from Maine)
5. $1.337 billion, Mega Millions, July 29, 2022 (one ticket, from Illinois)
6. $1.05 billion, Mega Millions, Jan. 22, 2021 (one ticket, from Michigan)
7. $768.4 million, Powerball, March 27, 2019 (one ticket, from Wisconsin)
8. $758.7 million, Powerball, Aug. 23, 2017 (one ticket, from Massachusetts)
9. $754.6 million, Powerball, Feb. 6, 2023 (one ticket, from Washington state)
10. $731.1 million, Powerball, Jan. 20, 2021 (one ticket, from Maryland)
Powerball drawings are also streamed here on Monday, Wednesday, and Saturday at 10:59 p.m.
Mega Millions drawings are streamed on Tuesday and Friday at 11:00 p.m.
Sources: AP archives, www.megamillions.com and www.powerball.com
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