$750 million Powerball drawing Saturday night

Posted at 10:34 AM, Oct 27, 2018
and last updated 2018-10-27 11:34:36-04

(RNN) – Most of us didn’t see our Mega Millions dreams come true this week, but today is Saturday, and that means Powerball.

The grand prize for that lottery has grown to $750 million.

While it’s not the dizzying heights of the recent $1.537 billion Mega Millions jackpot, which a ticket holder in South Carolina won Tuesday night, it’s still a whole lot of money.

The Powerball drawing will be held Saturday at 11 p.m. ET.

A jackpot winner will match the numbers on the five white balls, numbered 1-69, and the red Powerball, numbered 1-26.

You have a one in 292 million chance of winning.

If you beat those odds, you’ll have to choose between cash or annuity.

The annuity option will net you the entire jackpot, thanks to annual payments over the next 29 years.

Opting for cash will get you a large lump sum, but it will be smaller than the jackpot. The cash option is $428.6 million for the Saturday drawing.

Like the Mega Millions, the jackpot will reset to $40 million once someone matches all the numbers and wins the grand prize.

But even if you don’t walk away with the jackpot, you can win smaller prizes 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.

According to the Powerball website, seven tickets matched five white balls on Wednesday night. Eighty-nine tickets matched four white balls and the red Powerball.

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.

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