World-record jackpot of $1.9B up for grabs in Powerball drawing on Monday

(NEW YORK) — An estimated $1.9 billion is up for grabs in Powerball’s drawing on Monday night, lottery officials said.

Monday’s jackpot is the world’s largest lottery prize ever offered, according to a press release from Powerball. The cash value is $929.1 million.

The jackpot grows based on game sales and interest. But the odds of winning the big prize stays the same — 1 in 292.2 million, Powerball said.

Monday’s Powerball drawing will be the 41st since the jackpot was last won on Aug. 3, tying the game record for the number of consecutive drawings without a grand prize winner, according to Powerball.

Despite there being no jackpot winner, more than 10.9 million tickets won cash prizes totaling $102.2 million in the latest drawing on Saturday night. The overall odds of winning a prize are 1 in 24.9, Powerball said.

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, according to Powerball.

Tickets cost $2 and are sold in 45 U.S. states as well as Washington, D.C., Puerto Rico and the U.S. Virgin Islands. More than half of all proceeds remain in the jurisdiction where the ticket was purchased, Powerball said.

Powerball drawings are broadcast live every Monday, Wednesday and Saturday at 10:59 p.m. ET from the Florida Lottery draw studio in Tallahassee. The drawings are also livestreamed online at Powerball.com.

Copyright © 2022, ABC Audio. All rights reserved.