- The final Powerball drawing of 2021 will take place on Wednesday and feature a jackpot of over $441 million – there have been 36 consecutive drawings without a jackpot winner.
- The cash value for the jackpot is approximately $317.5 million – according to the Multi-State Lottery Association, the odds of winning the Powerball jackpot are around 1:292,200,000.
TALLAHASSEE, Fla. – Lottery players across the United States will be tuned in to the final Powerball drawing of the year Wednesday.
There have been 36 consecutive drawings without a Powerball jackpot winner – the last jackpot win happened on October 4, when an individual in Morro Bay, California bought a winning ticket worth $699.8 million.
Wednesday’s Powerball drawing will feature a jackpot prize of over $441 million after no winner emerged from Monday’s drawing. The cash value of the jackpot is approximately $317.5 million, according to Powerball.
While there was no jackpot winner Monday, two $2 million tickets were purchased in New Jersey and Florida, with an additional $1 million winner in Florida.
The overall odds of winning a prize of any size from a Powerball ticket are 1:24.9, while the odds of winning the lottery’s jackpot prize are around 1:292,200,000.
What Is Powerball?
Powerball is a multi-state lottery game offered in 45 states as well as the District of Columbia, Puerto Rico, and the U.S. Virgin Islands. The Powerball game is run by the Multi-State Lottery Association.
The first-ever Powerball drawing was held on April 19, 1992. Until August 21, 2021, two drawings were held per week (on Wednesday and Saturday), originally broadcasted from Universal Studios in Orlando. In August 2021, Powerball began conducting three draws per week, in order to allow the jackpot prize to increase more rapidly.
From August 21, 2021 on, drawings have been held on Monday, Wednesday, and Saturday at 10:59 PM ET from the Florida Lottery Studio in Tallahassee.
The base price of a ticket is $2, with Power Play tickets costing $3. Tickets must be purchased by 10:00 PM ET the night of the drawing.
Winners can choose to take their payment as either an annuity in the form of 30 graduated installments amounting to the total jackpot amount or a lump-sum payment for a slightly lesser prize than the advertised jackpot. All 30 of the graduated payments are guaranteed to be issued within 29 years, with each payment increasing in sum by 5%.
Powerball is not currently available as an online gambling option; however, six states offer some sort of online lottery game.