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Powerball Jackpot Grows to $422M, Eighth Largest Ever

by Erik Ortiz and Reuters /
In this Jan. 13, 2016 file photo, a clerk hands over a Powerball ticket for cash at Tower City Lottery Stop in Cleveland. Powerball estimates that its jackpot for the May 4, 2016, drawing is $348 million.
In this Jan. 13, 2016 file photo, a clerk hands over a Powerball ticket for cash at Tower City Lottery Stop in Cleveland. Powerball estimates that its jackpot for the May 4, 2016, drawing is $348 million.Tony Dejak / AP

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Another Powerball jackpot is racing up the record books after almost three months without a winning ticket holder.

The prize has grown to $422 million ahead of Wednesday night's drawing making it the eighth largest in the game's history and the 11th-biggest lottery prize ever in the United States.

Related: California Couple Comes Forward as Mystery Co-Winners of $1.6B Powerball

The jackpot amount has now rolled over 22 times since it was reset to its starting sum of $40 million for a drawing back on May 11, lottery officials said.

A winning ticket consisting of all six numbers will be worth an estimated payout of $422 million if spread over 30 years, or the winner may opt for a lump-sum payment of $291.8 million before federal taxes.

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The drawing — planned for 11 p.m. ET — comes about 2-1/2 months after a $429.6 million winning Powerball ticket was sold in New Jersey and two weeks after a $540 million Mega Millions lottery jackpot was clinched in Indiana.

Those two prizes ranked as the ninth- and seventh-largest in U.S. lottery history, respectively.

The largest all-time biggest lottery prize offered in North America was a Powerball jackpot worth nearly $1.6 billion for winning tickets sold in California, Tennessee and Florida in January of this year.

Related:What You Should Do If You Win the Powerball Jackpot

A couple who bought the winning California ticket in that draw came forward just last week to claim their $528 million share of the prize. They will take home a cash option of $327.8 million before taxes.

Powerball — based on lottery tickets sold for $2 apiece — is played in 44 states as well as the District of Columbia, Puerto Rico and the U.S. Virgin Islands.

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