Powerball Jackpot Jumps To $630 Million. Can Indiana Claim Its 40th Win?

Posted on January 5, 2022

The Powerball jackpot is now worth over half a billion dollars.

No ticket matched the numbers for the $575 million drawing on Monday. That jackpot now has an estimated worth of $630 million.

There hasn’t been a Powerball jackpot winner since Oct. 4.

Powerball Jackpot reaches $600 million

Powerball drawings take place three times each week. There’s a chance for a new gambler to win every Monday, Wednesday and Saturday.

The game just added those Monday drawings a few months ago.

According to the Powerball’s website, Wednesday’s drawing has an estimated jackpot of $630 million. That’s a hefty sum that a Hoosier could end up claiming.

The cash value on that estimated jackpot is $448.4 million. Of course, the annuity payment option is also available for whichever gambler ends up claiming the prize.

After all, Indiana has more Powerball winners than any other state. Hoosiers have won 39 times, while Missouri’s 31 wins are the second-highest tally.

If no one wins the Wednesday night drawing, then the show will go on.

The current jackpot is the seventh-largest in Powerball history, but it still has a ways to go before it reaches the top spot.

In fact, it isn’t even halfway there yet.

The record for a Powerball jackpot is nearly $1.6 billion. Three gamblers claimed that prize back in 2016.

It might not be the highest number ever, but $630 million is obviously still an incredible amount of money. Gamblers are already going after a top-10 jackpot of all-time, and that number will only climb even higher if no one wins during the Wednesday drawing.

Record year for Hoosier Lottery

Indiana gamblers love playing the lottery. So much so, that the Hoosier Lottery racked up record revenue numbers during the 2021 fiscal year.

The Hoosier Lottery brought in $1.74 billion, which beat the previous all-time high by nearly $400 million.

Scratch-off tickets were the leading lottery option for gamblers around the state. Indiana gamblers bought over $1.3 billion worth of tickets throughout the year.

Scratch-offs were the big hitters, but Powerball and Mega Millions tickets saw large increases too. Sales jumped 19%, which puts Indiana’s love for these national games on display.

Big prizes like the Powerball’s $630 million jackpot only drive the numbers up higher. Everyone wants a shot at life-changing money, so the bigger the jackpots get, the more tickets that fly off the shelves.

The numbers are massive, but the lottery isn’t expecting another earth-shattering set of numbers for the next annual report.

Fiscal years start in July for Indiana, so the Hoosier Lottery is already deep into fiscal year 2022.

Since pandemic shutdowns and restrictions are mostly over in Indiana, the state lottery commission is expecting scratch-off tickets to lose out to other forms of entertainment.

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Jake Garza

Jake Garza is a US Gambling Industry Analyst for Catena Media. He specializes in Midwest sports betting and casino content. Prior to covering the legal gambling industry, he spent time as a professional sports writer, reporting on teams such as the Cincinnati Bengals, Indianapolis Colts and Indiana Pacers. Garza is currently working as a Managing Editor for PlayIndiana and PlayOhio, with previous stops at other well-known brands such as PlayIllinois and PlayMichigan. He has been covering the gambling industry since 2019, and currently works with a team of other journalists to provide comprehensive coverage of the legal U.S. gambling industry.

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