Powerball jackpot increases to $500 million New Year’s Day 2022. The New Years Day Powerball jackpot has risen to $ 500 million, according to the lottery organization. The increase comes after no one showed up to claim the prize from the last 2021 Powerball drawing, which took place on Wednesday.
There have been 37 draws in a row without a jackpot winner, according to Powerball. The last jackpot-winning drawing occurred on October 4, when a California resident won $ 699.8 million.
The next drawing will take place on New Years Day. Separately, the lottery will hold a $ 1 million drawing that will air live on “Dick Clark’s Rockin ‘New Year’s Eve with Ryan Seacrest 2022” on ABC.
But winning the coveted award won’t be easy. While the overall odds of winning any number of Powerball prizes are 1 in 24.9, the odds of winning the Powerball jackpot are 1 in 292.2 million, according to the organization.
A woman buys Mega Millions of tickets hours before the $ 1.6 billion jackpot drawing, at a liquor store in downtown Washington, DC, on October 23, 2018.
ERIC BARADAT / AFP via Getty Images
Do you think you want to take a chance? Tickets are $ 2 per play and are sold in 45 states, the District of Columbia, Puerto Rico, and the US Virgin Islands.
Jackpot winners can choose a giant lump sum payment in cash or an annuity of 30 incremental annual payments, but all prize winnings are subject to federal and local taxes. After taxes, a single winner of the $ 500 million New Years Day jackpot would take home about $ 355.9 million in cash value.
“Ticket sales have been strong over the holidays, and we anticipate that the majority of ticket purchases for the upcoming drawing will be made on New Years Day,” said Powerball product group president and CEO of the US Lottery. Missouri, May Scheve Reardon, in a press release Thursday. “A jackpot of this size is a great way to start the New Year, but remember to play responsibly.”