$1 billion Powerball jackpot: Which payout option is best if you win?

(NEXSTAR) – For the eighth time in Powerball history, the jackpot has hit an estimated value of $1 billion.

Yet another drawing produced no jackpot-winning tickets on Monday. Only three tickets – one each in California, Maryland and Tennessee – were able to match five of the drawn numbers, which were 6, 37, 54, 55, 64 and red Powerball 10.

Early Tuesday, Powerball officials estimated ticket sales had bolstered the jackpot to an estimated $975 million with a cash value of $422.3 million.

After further review, game officials have since increased the jackpot to an estimated $1 billion with a cash value of $433.1 million. At this size, the jackpot remains the eighth-largest prize in Powerball history, though it is on the verge of climbing into the No. 7 spot:

$2.04 billion: Nov. 7, 2022; California

$1.817 billion: Dec. 24, 2025; Arkansas

$1.787 billion: Sept. 6, 2025; Missouri and Texas

$1.765 billion: Oct. 11, 2023; California

$1.586 billion: Jan. 13, 2016; California, Florida, Tennessee

$1.326 billion: April 6, 2024; Oregon

$1.08 billion: July 19, 2023; California

Est. $1 billion: Current

$842.4 million: Jan. 1, 2024; Michigan

$768.4 million: March 27, 2019; Wisconsin

It’s also the 15th-largest jackpot across both Powerball and Mega Millions, edging out the $980 million Mega Millions prize won by a ticket sold in Georgia last fall. It’s only $50 million shy of tying a Mega Millions prize won in Michigan in 2021 for the 14th-largest across both games.

We haven’t seen a Powerball jackpot of this size since December when a ticket sold in Arkansas won a $1.817 billion payout. The grand prize won before that was worth $1.787 billion and split by tickets sold in........

© The Hill