Fast Facts about Monday’s $1.1 Billion Powerball® Jackpot
Iowa Lottery Players Won Nearly $267,000 in Prizes in Saturday’s Powerball Drawing
Editor’s Notes: For continued jackpot estimates between drawings, please visit the Iowa Lottery’s website at www.ialottery.com.
JPEG and EPS images of Iowa Lottery tickets, playslips and equipment are available at:
https://www.ialottery.com/Pages/Pressroom/LAP_GameLogos.aspx
JPEG and EPS images of the Iowa Lottery logo are available at:
https://www.ialottery.com/Pages/Pressroom/LAP_CorporateLogos.aspx
If you can't open these links, visit ialottery.com and click on Press Room.
CLIVE, Iowa — Labor Day could bring more than a day off!
Billion-dollar dreams are up for grabs in Monday’s Powerball® drawing, with the jackpot now at an estimated $1.1 billion annuity, $498.4 million cash option. It marks the game’s fifth-largest jackpot ever.
Total Prizes Won Saturday in Iowa
Iowa Lottery players won a total of 36,999 prizes totaling $266,993 in Saturday’s Powerball drawing. The winning numbers were: 3-18-22-27-33 and Powerball 17. The Power Play® number was 3.
Iowa Lottery players bought more than $2.28 million in Powerball tickets for Saturday’s drawing. Each Powerball play costs $2 and the average total purchase per customer in Iowa for the drawing remained about three plays, or $6 per ticket. Lottery officials were pleased that many people joined in the fun while keeping their play at a responsible level.
A player wins the Powerball jackpot by matching all six winning numbers in a drawing. However, there are a total of nine prize levels in Powerball ranging from $4 up to the jackpot, so the Iowa Lottery reminds its players to be sure to check their tickets for all the prizes they may have won.
Truth vs. Myth: The cash amount of the jackpot is the annuitized value minus taxes.
That’s a myth! There’s some confusion out there about how jackpot amounts really work. The cash amount is not the annuity amount minus taxes, and it’s also not a set percentage of the annuity total. Here’s how it actually breaks down:
- Annuity option: A jackpot winner receives 30 payments over 29 years that together equal the advertised annuity total. The money from ticket sales in the jackpot pool is invested in securities, and over time, the initial amount plus interest earnings fund those payments. Taxes are withheld from each payment as it’s made. If the winner passes away before all payments are made, the remaining money goes into their estate, with future payments distributed according to the estate or a court’s decision.
- Cash option: The winner receives a one-time, lump-sum payment equal to the cash on hand in the jackpot pool from ticket sales. Since the money isn’t invested, no interest is generated. Taxes are withheld from the full amount of the lump sum at the time of payment.
Powerball Has A Monday Drawing?
Another common question to the Iowa Lottery in recent days has come from people who thought the lottery was mistaken in reporting that Powerball has a Monday drawing. But that drawing has been part of the game for more than four years.
In August 2021, Powerball moved from having two drawings a week to drawings on three days each week. The game now has drawings on Mondays, Wednesdays and Saturdays. The change was designed to produce more winners and generate larger, faster-growing jackpots.
I Don’t Know How To Buy A Ticket
Jackpots of this size often inspire first-time players to jump in and buy a ticket. Some of them have reached out to the lottery, saying they don’t know how to play and don’t want to appear silly when trying to buy a ticket.
The Iowa Lottery has shared with them that the simplest way to buy a ticket is to ask a clerk at a store for an easy-pick Powerball play. The lottery terminal will randomly select the numbers for that play and the lottery terminal will print out the ticket. Typically, more than 90 percent of the tickets purchased for a given drawing are easy-pick plays.
To give everyone a quick brush-up on playing Powerball, the Iowa Lottery has how-to-play videos available here.
Please Play Responsibly
And as always, the Iowa Lottery reminds everyone that it only takes one ticket to win. Please play responsibly. Have fun playing, but set a limit and stay within it for how much you’ll spend. Playing the lottery is something to do just for fun.
Return to top↑