US Powerball jackpot reaches an astonishing milestone

America’s largest fixed odds lottery is about to make history as it approaches a $1 billion prize pool. Without anyone pulling winning numbers in the latest draw, it has pushed the Powerball winning prize up to the third-highest in US history and it will keep growing until somebody wins!

How does the US Powerball prize money work?

This might come as a surprise but if you happened to be the lucky winner, you wouldn’t actually be getting your hands on that billion anytime soon. There are a few lesser-known terms and conditions to winning the prize money that are in place to prevent careless spending. You could opt to get paid out the $1 billion in yearly increments over 29 years, or you’d be able to walk away with $516.8 million as a lump sum (before taxes, mind you).

Who can play Powerball?

 You don’t have to be an American citizen to play the US Powerball. As long as you are over the age of 18 and hold a valid Powerball ticket, you are eligible for the cash prize. Citizenship and residency are not limiting factors.

However, here’s the catch, tickets are sold in 45 US states, Puerto Rico and the Virgin Islands only. So, unless you’re abroad, you won’t be able to play the US Powerball anytime soon.

How do I bet on the US Powerball?

If you’d rather keep it local, you can bet on the US Powerball through reputable betting sites like Lottoland. By placing a fixed odds lotto bet, you can stand a chance to win your share of R1.1 billion in cash prizes.

What was the biggest US Powerball draw ever?

The biggest US Powerball cash prize in recorded history is $2.04 billion and was claimed last November. The winner, Edwin Castro of California, didn’t waste much time spending his prize money. He now cruises around town in a vintage Porsche and has purchased multiple properties.

Before that, the Powerball winning prize hit $1.56 billion in 2016, however, that time there wasn’t just one winner. Three ticket holders held the winning numbers, which meant the prize had to be split among the three.

In July 2022, a man from Illinois won a whopping $1.337 billion in the Mega Millions, making this the third largest cash prize in US history.

When did someone last win the US Powerball?

The odds of winning the US Powerball are one in 292.2 million. These odds go up as more people buy lotto tickets, and as time goes on and there are fewer successful draws, the prize pool gets bigger. And so more people enter to take their shot at winning. Are you seeing the cycle? With these odds, it’s clear to see why nobody has won the prize money in the last 38 consecutive draws. The last big win was on 19 April, at a prize pool of $253 million.

How does the SA Lotto compare?

If you were to win the US Powerball as it stands, you’d be looking at a cool R17 billion in cash prizes. Not a bad day at the office! The Powerball was only introduced in 2015 in South Africa and the prize pool has always been much bigger than the national lottery. The highest Powerball win in South Africa went to a man based in Cape Town and this saw him winning over R232 million back in 2019.

Despite a massive surge in ticket sales due to the additional R20 million up for grabs, the winner who chose to remain anonymous purchased his ticket at his local OK MiniMark, and then waited an entire week to come forward and claim his prize! Despite his win, the man said he would continue to work.

Before this record-breaking win, a resident from Ballito in KwaZulu Natal won a cool R167 million in February of 2022. It certainly seemed like a lucky year for hitting the winning prize!

Conclusion

It’s going to be a real thrill watching just how high the US Powerball cash prize will climb before it is eventually claimed. While you can’t actively participate in the draw itself from here in SA, you can place bets on the US Powerball for your local piece of the Powerball pie!