WASHINGTON — Just hours after Powerball announced no jackpot winners from Monday's drawing, the next grand prize grew even larger.
The lottery game's leaders increased the estimated jackpot on Tuesday from $680 million to $700 million for Wednesday night's drawing. It's now the 8th largest U.S. jackpot in history and the fifth largest Powerball grand prize.
The lump sum cash option, which is usually what winners select, stands at $335.7 million.
Players must match all five numbers and the Powerball to win the jackpot. Despite having another night with no grand prize winner on Monday, one player in Texas did win $1 million after matching all five numbers.
The current Powerball jackpot has been growing since early August, racking up 35 drawings without a big winner. The odds of winning the grand prize are 1 in 292.2 million.
Americans were sent into a lottery craze this summer when a near-record $1.377 billion Mega Millions jackpot was on the line in July. Two people from Illinois came forward in September to claim that prize, but they chose to stay anonymous.
Earlier this month, two winners snagged a $494 million Mega Millions prize. One of those winning tickets was sold in Fort Myers, Florida, which was battered by Hurricane Ian in late September.
Powerball still holds the world record for largest jackpot with a whopping $1.586 billion prize won in 2016. That prize was shared by winners in Tennessee, Florida and California.
Top 10 biggest US lottery jackpots
- $1.586 billion, Powerball, Jan. 13, 2016 (three tickets, from California, Florida, Tennessee)
- $1.537 billion, Mega Millions, Oct. 23, 2018 (one ticket, from South Carolina)
- $1.337 billion, Mega Millions, July 29, 2022 (one ticket, from Illinois)
- $1.05 billion, Mega Millions, Jan. 22, 2021 (one ticket, from Michigan)
- $768.4 million, Powerball, March 27, 2019 (one ticket, from Wisconsin)
- $758.7 million, Powerball, Aug. 23, 2017 (one ticket, from Massachusetts)
- $731.1 million, Powerball, Jan. 20, 2021 (one ticket, from Maryland)
- $700 million (estimated) Powerball, Oct. 26, 2022
- $687.8 million, Powerball, Oct. 27, 2018 (two tickets, from Iowa and New York)
- $656 million, Mega Millions, March 30, 2012 (three tickets, from Kansas, Illinois and Maryland)
Powerball jackpot winners have the option of receiving an annuity payment, paid over 29 years, or a lump sum payment. There have been five Powerball jackpot winners so far in 2022.
Val Lick and the Associated Press contributed to this report.