Powerball jackpot hits $620 million after no winner Saturday

Posted at 12:04 PM, Oct 21, 2018
and last updated 2018-10-21 13:04:24-04

By Jordan Smith 

(RNN) - Like the Mega Millions prize before it, the Powerball jackpot just keeps rising, climbing to more than $600 million after no one won Saturday night’s drawing.

Though several people won smaller prizes in the Powerball drawing, no one won the grand prize, which may not be as massive as the $1.6 billion offered by Mega Millions but is still nothing to scoff at, now reaching $620 million.

Two players won $2 million dollars in the Saturday drawing, and seven won $1 million, according to the Powerball website.

The winning numbers were 62, 16, 54, 57 and 69. The red Powerball number was 23.

A jackpot winner will match the numbers on the five white balls, numbered 1-69, and the red Powerball, numbered 1-26. That leaves you with a one in 292 million chance of winning.

If you beat those odds, you have a choice to make: cash or annuity.

The annuity option will net you the entire jackpot. You will get annual payments over the next 30 years.

Opting for cash will get you a large lump sum, but it will be smaller than the jackpot, $354 million in this case.

Once someone matches all the numbers, the jackpot will reset at $40 million.

Even if you don’t walk away with the largest prize, smaller prizes can still be won by matching fewer numbers.

Matching all five white balls without the red Powerball will make you a millionaire.

Matching four white balls and the red Powerball will net you $50,000.

The largest Powerball jackpot ever was $1.586 billion in January 2016. It was shared by winners in California, Florida and Tennessee.

The last jackpot winner was a New York man who took home $245.6 million in early August.

The next Powerball drawing will be Wednesday at 11 p.m. ET, while another Mega Millions drawing will be held Tuesday at 11 p.m. ET.

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