Powerball jackpot rises to 11th largest of all time

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The largest ever Powerball jackpot was $1.586 billion, which was won by three players in January 2016.

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Twenty-two tickets matched four balls with the Powerball for $50,000. A further three ticket-holders did so with a Powerplay to double their winnings to $100,000.

The odds of winning the big jackpot are 1 in 292,201,338. And, according to Powerball's official website, each ticket has odds of 1 in 24.9 of winning a prize.$1.586 billion won on January 13, 2016, by three players in California, Florida, and Tennessee.$758.7 million won on August 23, 2017, by one player in Massachusetts$687.8 million won on October 27, 2018, by two players in Iowa and New York$587.5 million won on November 28, 2012, by two players in Arizona and Missouri$559.

Drawings usually take place twice a week on a Tuesday and Saturday, at 10:59 p.m. ET. Each draw is broadcast live from the lottery studio located in Tallahassee, Florida. Jackpot winners can choose to take their prize as an annuity, or for significantly less, a lump-sum payment. The annuity option gives you 30 annual payments over 29 years, with each payment increasing five percent until the final payment.File photo: Powerball slips on a convenience store shelf to enter for an estimated $1.3 billion jackpot, seen on Monday, January 11, 2016.

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