Powerball jackpot grows to $540 million for Monday night drawing

The Powerball jackpot for Monday night’s 11 p.m. ET drawing has swelled to an estimated $540 million after nobody won the New Year’s Day drawing. There was a $2 million winner in Maryland and three $1 million winners, one in Arizona, one in California and one in Florida, according to Powerball’s website.

Jackpot winners have the option to receive a lump-sum payment or 30 payments over the course of 29 years, with each payment increasing by 5%. The lump-sum cash payment for a single jackpot winner is currently estimated at around $384.3 million, according to Powerball.   

Powerball Jackpot Expected To Reach A Whopping Record-Breaking 1.5 Billion Dollars
A customer holds a handful of Powerball tickets in a 2016 file photo.

Justin Sullivan / Getty Images

A standard ticket costs $2, although players can choose to add a “power play” for another $1, which could increase the winning prize total for everything but the jackpot. To win the jackpot, players must match all 5 drawn numbers plus the powerball number. Smaller prizes are available for other outcomes, such as only matching the powerball, which, without any power play, is worth $4. 

According to Powerball, players have a 1 in 24.9 chance of winning a prize, but only a 1 in 292,201,338 chance of winning the jackpot. 

Powerball is available in 45 states, Washington, D.C., Puerto Rico and the U.S. Virgin Islands.

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