The Powerball jackpot has skyrocketed to a mind-boggling $1 billion following Monday night's draw which unfortunately left no lucky winners, making it the third-largest jackpot in Powerball's existence.

Lotto tickets are covered with one hyndred dollar bills.
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The winning numbers for Monday's draw were 5, 8, 9, 17, and 41, with the Powerball being 21.

In the upcoming draw, an estimated cash payout of $516.8 million awaits the fortunate winner. A whopping $1 billion jackpot is up for grabs in the next exhilarating Powerball drawing.

This impressive prize marks the game's third-largest jackpot ever and also claims the title of the seventh-largest lottery jackpot in the entire United States, as highlighted in a recent press release by Powerball.

With an estimated cash value of $516.8 million, the grand prize is truly a life-changing sum of money, as Powerball enthusiastically announces.

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Here Is Everything You Need To Know:

What days are the Powerball drawings and when is the next one?

Watch the Powerball draws every Monday, Wednesday, and Saturday at 10:59 p.m. ET live from the draw studio in Tallahassee, Florida. You can also catch the draws online at Tune in for the upcoming draw on Wednesday, July 19.

Where are Powerball tickets sold and how much do they cost?

To buy a Powerball ticket, you'll need $2 and access to any of the 45 states in the US, along with Puerto Rico, Washington, D.C., and the US Virgin Islands. If you live in Idaho or Montana, you'll have the added option of Power Play, which lets you increase your non-jackpot prizes. However, this bundle requires a minimum ticket price of $3.

It's important to note that more than 50% of all sales remain within the state where the ticket was sold.

Getty Images/iStockphoto
Getty Images/iStockphoto

Can Powerball tickets be purchased online?


Players can buy Powerball tickets in person from retailers in authorized participating U.S. states. In certain U.S. states, Powerball tickets can be purchased online through the state lottery agency.

Players can also take part through online lottery ticket company by going to the website or downloading the mobile app.

What are the odds of winning the Powerball jackpot?


Despite increasing with game sales and interest, the likelihood of winning the massive Powerball jackpot remains 1 in 292.2 million.

When victorious, players have two choices: receiving a lump sum of cash upfront or dividing the money into annual payments spread across 29 years. Regardless of which option is chosen, neither includes taxes imposed by federal and jurisdictional authorities.

Lastly, any winning ticket must be claimed in the specific jurisdiction where it was purchased.

Getty Images
Getty Images

How to play Powerball

To participate in the lottery, choose five numbers ranging from 1 to 69 for the white balls, and select one number between 1 and 26 for the red Powerball. This can be done on a play slip or via the lottery terminal's random selection feature.

For an additional fee of $1, the Power Play feature can be added to increase non-jackpot winnings by two, three, four, five, or ten times. The multiplier is randomly chosen before each drawing.

The 10-times multiplier is only applicable if the advertised jackpot annuity is $150 million or less, whereas the Match 5 prize with Power Play always awards $2 million.

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