The Powerball drawing on October 29, 2023 did not produce a jackpot winner. The winning numbers were 7, 15, 36, 56, 67 and the Powerball number was 9. Since no ticket matched all 6 numbers, the jackpot has rolled over and will continue growing until a winner is found.
When are the Powerball drawings held?
Powerball drawings are held every Monday, Wednesday and Saturday at 10:59 p.m. Eastern Time. The drawings take place at the Florida Lottery draw studio in Tallahassee, Florida.
What were the Powerball jackpot amounts leading up to the October 29th drawing?
Here are the recent Powerball jackpot amounts leading up to the October 29th drawing:
| Drawing Date | Jackpot |
|---|---|
| October 26, 2022 | $700 million |
| October 24, 2022 | $680 million |
| October 22, 2022 | $665 million |
| October 19, 2022 | $550 million |
| October 17, 2022 | $480 million |
As you can see, the jackpot had been steadily growing over the past couple weeks leading up to the October 29th drawing when it reached $700 million.
What was the cash value option for the October 29th jackpot?
For the October 29th drawing with a $700 million annuity jackpot, the cash value option was an estimated $335.7 million. The cash option is typically much lower than the full jackpot amount because it is a one-time, lump-sum payment rather than the full amount paid out annually over 29 years.
How many numbers do you need to match to win a Powerball prize?
Here is a breakdown of the number of numbers you need to match to win each Powerball prize:
- Match 5 numbers + Powerball: Grand prize jackpot
- Match 5 numbers only: $1 million prize
- Match 4 numbers + Powerball: $50,000 prize
- Match 4 numbers only: $100 prize
- Match 3 numbers + Powerball: $100 prize
- Match 3 numbers only: $7 prize
- Match 2 numbers + Powerball: $7 prize
- Match 1 number + Powerball: $4 prize
- Match Powerball only: $4 prize
As you can see, matching at least 3 numbers or the Powerball is required to win any prize. The odds of winning increase for matching more numbers.
What were the winning numbers for the October 29th drawing?
Here are the winning numbers from the Saturday, October 29, 2022 Powerball drawing:
- 7
- 15
- 36
- 56
- 67
- Powerball: 9
While no ticket matched all 6 numbers to win the jackpot, millions of players won smaller prizes totaling over $33 million by matching some of the numbers drawn.
What are the odds of winning the Powerball jackpot?
The odds of winning the Powerball jackpot are incredibly slim – only 1 in 292,201,338. This means you have a 1 in nearly 300 million chance of matching all 5 white balls plus the red Powerball to win the jackpot prize.
Here are the odds for other Powerball prizes:
- Match 5 numbers only: 1 in 11,688,053
- Match 4 numbers + Powerball: 1 in 913,129
- Match 4 numbers only: 1 in 36,525
- Match 3 numbers + Powerball: 1 in 14,494
- Match 3 numbers only: 1 in 580
- Match 2 numbers + Powerball: 1 in 701
- Match 1 number + Powerball: 1 in 92
- Match Powerball only: 1 in 38
As you can see, the odds get much better for matching fewer numbers. While the jackpot odds are astronomical, your chances of winning a smaller prize are decent.
What states offer the Powerball lottery?
Currently, Powerball tickets are sold in 45 states as well as Washington D.C, Puerto Rico and the U.S. Virgin Islands. The states that do not participate are:
- Alabama
- Alaska
- Hawaii
- Nevada
- Utah
Powerball can offer huge jackpots because millions of players in nearly all U.S. states are participating. The more players, the bigger the potential jackpot can grow.
What happens if there are multiple Powerball jackpot winners?
If there are multiple winning tickets sold for one drawing, the jackpot prize will be divided equally among all winners. This has happened several times in the past:
- January 2016: 3 winning tickets shared $1.586 billion jackpot.
- August 2012: 3 winners split $448.4 million.
- February 2015: 3 winners divided $564.1 million.
The odds of having multiple winners increases when the jackpot grows very large. If there are multiple winners on October 29, the $700 million advertised jackpot will be split evenly.
Has anyone ever won the Powerball jackpot more than once?
In the entire history of the Powerball game, there has only been one person lucky enough to win the jackpot twice:
- Joan Ginther from Texas won a $10 million jackpot in 1993.
- She then won an enormous $141 million prize in 2006.
Joan Ginther is the only verified 2-time Powerball jackpot winner ever. Winning once is rare enough, and no one else has managed to match all 6 numbers twice in one lifetime.
What is the record Powerball jackpot amount?
The current record Powerball jackpot is a whopping $1.586 billion won on January 13, 2016. The jackpot was hit by 3 tickets sold in California, Florida and Tennessee. Each ticket won a $528.8 million share of the grand prize.
Here are the top 5 record Powerball jackpots:
| Rank | Jackpot Amount | Drawing Date |
|---|---|---|
| 1 | $1.586 billion | January 13, 2016 |
| 2 | $768.4 million | March 27, 2019 |
| 3 | $758.7 million | August 23, 2017 |
| 4 | $731.1 million | January 20, 2021 |
| 5 | $699.8 million | October 4, 2021 |
As you can see, 4 out of the 5 biggest Powerball jackpots have occurred within the last 5 years. The current $700 million October 29 jackpot ranks among the top 10 largest ever.
What is the frequency of Powerball jackpot winners?
Due to the extremely long odds, there can be long stretches when the Powerball jackpot goes unclaimed. On average, about twice per year the jackpot will reach extremely high amounts of $500 million or more and spark huge interest.
Looking at the statistics:
- There have been 4 jackpot wins so far in 2022.
- There were 4 jackpots hit in 2021.
- In 2020 the jackpot was won 3 times.
- 2019 saw 5 jackpot winners.
- There were 6 jackpots awarded in 2018.
While some years might see several big winners clustered together, generally you can expect to see only a couple jackpot victories per year. Long jackpot rolls of 3 or 4 months are also common when draws fail to produce a winner.
How many total Powerball winners are there usually?
Looking beyond just the jackpot, there are many thousands of smaller Powerball winners in every drawing. When we include winners at all prize levels, there are typically:
- Over 50,000 winning tickets each draw.
- Hundreds of thousands of winners per week.
- 10+ million winners per year.
Even though the jackpot eludes almost everyone, there are still tons of winners at the lower tiers every single draw. While no one won the October 29 mega-jackpot, over 22,000 players won smaller prizes totaling $2.9 million.
Has the Powerball jackpot ever reached $1 billion?
While Powerball has come close with jackpots in the $900 million range, it has not yet officially topped the $1 billion mark. However, it seems likely that it eventually will.
Three times, the Powerball jackpot has exceeded $700 million and neared the $1 billion threshold:
- January 2016 – $1.586 billion (record jackpot)
- October 2021 – $699.8 million
- October 2022 – $700 million (and growing)
Given how frequently the game is now reaching mega-jackpot territory above $500 million, it seems inevitable that sooner or later the stars will align and we’ll see the first ever billion-dollar lottery jackpot.
What are the taxes on Powerball jackpot winnings?
Powerball jackpot winnings are subject to both federal and state taxes. Exact rates can vary slightly by location. Here is an overview of typical taxes owed on jackpot cash prizes:
- Federal tax: 37% (top bracket rate)
- State tax: 8% (average state rate)
- Total taxes: 45% combined
For example, on a $700 million Powerball jackpot with a $335 million cash value, around $151 million would be withheld for taxes. Factoring taxes, the winner would take home about $184 million in this scenario.
Can you remain anonymous if you win Powerball?
Powerball winners are generally identified publicly, but a growing number of states allow jackpot winners to remain anonymous. States allowing anonymous claims include:
- Delaware
- Kansas
- Maryland
- North Dakota
- Ohio
- South Carolina
Lottery winners can consult local laws and also set up anonymous trusts or LLCs to claim prizes privately. While full anonymity is not guaranteed, there are options to maintain some privacy.
How long do players have to claim Powerball prizes?
Powerball players have a deadline to claim prizes, which varies by jurisdiction:
- For jackpot prizes, players typically have 1 year from the draw date to make a claim.
- For smaller non-jackpot prizes, claims must be made within 3 – 12 months of the drawing.
- Unclaimed prizes expire and the funds are returned to the lottery jurisdiction.
It is critical for players to check their tickets promptly and claim any prizes in the required timeframes. Expired tickets become worthless.
What happens when the Powerball jackpot reaches the cap?
Powerball has a jackpot cap set at $680 million. If the advertised annuity amount hits this limit, special rules take effect:
- The jackpot will stay fixed at the cap for subsequent draws until there is a winner.
- The jackpot cap is still increased by a minimum of $10 million each roll.
- Excess funds spill over into the lower prize tiers.
Once the cap is reached, the excess funds going to boost the lower prizes can quickly multiply the value of the smaller prizes by 5-10X.
Conclusion
The Powerball lottery regularly produces enormous jackpots in the hundreds of millions. While winning the jackpot requires incredible luck, when the jackpot rolls without a winner the prize grows to staggering amounts. The October 29, 2022 drawing marked another milestone with a $700 million jackpot up for grabs. Though no single ticket matched all the numbers drawn this round, it seems only a matter of time before we see another massive jackpot winner!
