Powerball jackpot soars to $500 million before New Year’s Day drawing

Ready to try your luck for $500 million? If so, you may want to snag a Powerball jackpot ticket.

The jackpot continues to climb on Saturday, from $483 million to $500 million ($355.9 million cash value) after no winner was drawn last Wednesday.

Powerball officials said tonight’s drawing at 9:59 p.m. will be the Powerball’s first drawing on New Year’s Day in two years.

The last winner of the Powerball jackpot was in California on Oct. 4, 2021 when a single ticket won $699.8 million. This was the fifth largest in Powerball history and the 7th largest in U.S. lottery history, according to Powerball officials.

If you win the Powerball drawing, you can choose to receive your prize as an annuity, paid in 30 graduated payments over 29 years, or a lump sum payment, according to officials.

Still, both of the prize options are prior to federal and jurisdictional taxes.

Powerball tickets are $2 each, and results will be livestreamed online at Powerball.com. To learn more, click here.

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$699.8M Powerball jackpot won, ticket sold in California