November 2, 2011

PowerBall® Jackpot Estimated at $245 Million

A Rhode Island Lottery player could be a multi-millionaire after tonight’s PowerBall® drawing with the estimated jackpot at $245 million. 

The PowerBall® jackpot has been a hot topic nationwide since it jumped more than $35 million when no one won the jackpot Saturday night.  The jackpot is estimated to increase to more than $300 million if it does not get hit tonight.  The last time the PowerBall® jackpot was more than $300 million was in 2007.

There have been 13 consecutive draws without a jackpot winner since the current run started on September 17, 2011.   

If the jackpot gets hit tonight and the winner chooses the annuity option, the $245 million jackpot would be paid over 29 years in 30 installments.  If the winner chooses the cash option, the lump sum payment is estimated at $146.2 million.  

The $78 million Mega Millions® jackpot was hit last night by one lucky player in California.  That jackpot starts at $12 million for Friday’s drawing.