Powerball Jackpot Climbs To $615M: Where The Money Goes In VA

VIRGINIA — It’s been a while since Virginia residents felt this kind of lottery fever as the estimated Powerball jackpot climbs to $615 million in Saturday’s drawing. The cash value of the prize after taxes is $310.6 million.

No one matched all six numbers drawn in Wednesday night’s drawing. They were 17, 24, 48, 62, 68 and the Powerball number, 23. The last time the jackpot was hit was with a winning ticket in Ohio worth $252.6 million on April 19.

The record $2,040,100,000 ticket sold for the Nov. 7 drawing isn’t too distant a memory to spark a rush to lottery ticket outlets ahead of Saturday’s drawing.

In Virginia, sales of tickets cut off at 10 p.m. ET on Powerball drawing days. Drawings are held three times a week, at 10:59 p.m. EST on Mondays, Wednesdays and Saturday.

The 45 states (along with the District of Columbia, Puerto Rico and the U.S. Virgin Islands) that offer Powerball and other lotteries give a percentage of ticket sale revenue to various state funds, programs and causes.

By law, all Virginia Lottery profits are required to be used by the Commonwealth for K-12 education. In 2021, the Virginia Lottery distributed $774.56 million to schools, according to the North American Association of State and Provincial Lotteries.

Winners may choose to receive their prize as an annuity paid in 30 graduated payments over 29 years, or they may take a cash payout, which is estimated at $304.8 million for Saturday’s game. Nearly all winners choose cash.

The Virginia Lottery says the state has had two Powerball winners in the game's history. A player who bought their $217 million ticket on Superbowl Sunday in 2013.

And one ticket matched all six numbers in the March 4, 2023, Powerball drawing worth an estimated $161 million. The winning ticket — which has not been claimed — was bought at Gill Brothers, 4442 Cleburne Blvd. in Dublin, Virginia.

The odds of winning are abysmal — about 1 in 292.2 million, no matter how many tickets are sold. Odds of winning any prize are better, 1 in 24.9.

If no one wins the jackpot in Saturday’s drawing, the estimated jackpot would become one of the 10 all-time largest Powerball jackpots, bumping the $590.5 million prize claimed in Florida in May 2013.

A Powerball ticket costs $2. For an additional $1 per ticket, players can multiply non-jackpot prizes by up to 10 times with the Power Play feature. One caveat: The 10X multiplier is only available when the advertised jackpot annuity is $150 million or less.

To win the jackpot, a player must match all white balls in any order and the red Powerball number. Lottery officials say chances are higher when players don’t choose their own numbers. About 75 percent of winning tickets over the years were picked by a computer.