Powerball jackpot climbs to $1.6 billion ahead of Monday’s drawing

​Once more, the Powerball jackpot has grown, up to an incredible $1.6 billion. That's after no ticket matched all of the winning numbers in Saturday night's drawing.

With each draw that passes without a winner, the prize keeps increasing and grabbing attention across the country. This is the 45th straight drawing without a grand prize winner. With this long of a streak, the jackpot rises very quickly.

Powerball officials say this now is the fourth largest jackpot in Powerball history and the fifth biggest lottery prize ever in the United States.

No jackpot winner, but many players still win big

Even though nobody won the top prize on Saturday, many players still walked away with large rewards. Powerball shared that 112 ticket holders won $50,000 each, while 22 players won $150,000. These prizes came from matching several numbers, just not all six.

Several $1 million winning tickets were also sold in states like California, Florida, Iowa, Massachusetts, Michigan, New Hampshire, and Ohio. These players matched five numbers but missed the Powerball number by just one.

In New Jersey, one lucky player won $500,000 in the Double Play drawing, which is an extra game players can add for another chance to win.

What happens if someone wins on Monday night?

If someone wins Monday’s drawing, they will have an important choice to make. The winner can take the full $1.6 billion paid over many years, or choose a one-time cash payout of about $735.5 million before taxes.

Many winners choose the cash option so they can receive the money right away. Others prefer yearly payments for long-term financial security.

How hard is it to win Powerball?

Winning the Powerball jackpot is very rare. The odds of matching all six numbers are 1 in 292.2 million. While those odds are extremely low, the chances of winning smaller prizes are much better.

Powerball offers several prize levels, with winnings starting at $4, which keeps many players interested even when the jackpot is hard to hit.

When is the next Powerball drawing?

Each Powerball ticket costs $2, making it an easy game for people to try their luck. Drawings are held every Monday, Wednesday, and Saturday at 10:59 p.m. Eastern Time.

As Monday night approaches, excitement continues to build. Players are checking tickets, making plans, and hoping they might be the next person to turn a $2 ticket into a life-changing fortune.