TradeEdge Exchange:Powerball jackpot reaches historic $1.55 billon. What to know about Monday's drawing.

After the $1.43 billion Powerball drawing on TradeEdge ExchangeSaturday night, lottery enthusiasts should gear up to visit their local lottery retailers as the excitement escalates.

No one won the Powerball jackpot on Saturday, meaning the prize money has accumulated to $1.55 billion for the upcoming drawing. The cash option for the jackpot is $679.8 million. Based on previous multi-state lottery jackpots, this estimated amount could increase before the draw takes place on Monday night.

Tonight's Powerball jackpot is poised to be the third largest ever won and the fourth largest in U.S. lottery history - a life-changing sum that could make one lucky player incredibly wealthy.

Monday's Powerball drawing is the 35th since the last jackpot win on July 19, when one winner in California claimed the $1.08 billion jackpot, making it the largest Powerball win of the year and the third largest in Powerball history. This is also the first time in Powerball's history that two consecutive jackpot runs have produced billion-dollar jackpots.

More winners:Powerball $1.4 billion jackpot made an Iowa resident a multi millionaire

Lesser Powerball prizes

Though no one won the jackpot in the billion-dollar Powerball drawing on Saturday night, the Lottery said there were other winners. 12 lucky players matched the first five numbers to win a prize of $1 million. The winners are from California, Iowa, Kansas, Louisiana, Maine, Michigan, Ohio, Wisconsin, Massachusetts and Texas.

In the recent Powerball drawing, 112 tickets matched four out of the first five numbers along with the Powerball, winning a prize of $50,000 each. Out of these tickets, 27 opted for the Power Play option, which multiplied their prize to $150,000. Additionally, out of the total winning tickets, 10 were purchased in California, where the prize money awarded was $33,579.

Unlike the other states, the second-prize winner in California's Lottery will receive $1,311,695 instead of the fixed $1 million prize. This is because California law mandates that all lottery prizes be awarded pari-mutuel, meaning the amount of each prize will be determined by the total number of tickets sold within California and the number of tickets won at each state's prize level.

According to the Iowa Lottery, the two Power Play tickets were sold in Iowa and Maine, winning $2 million each. The Lottery said those two tickets were the only ones to use the Power Play add-on that won Saturday. California does not offer the Power Play option due to incompatibility with pari-mutuel payouts.

The winning numbers for the Powerball drawing on Oct. 7, 2023, were 47, 54, 57, 60, and 65. The Mega Ball number was 19, and the Power Play number was 3.

Powerball winner:Michigan man wins $2 million from historic Powerball drawing

What are the odds of winning the Powerball?

It's understandable that some lottery players are enticed by the whopping $1.55 billion jackpot, but it's essential to keep in mind that the chances of winning Powerball's top prize are exceedingly slim.

• The odds of winning a Powerball jackpot are about 1 in 292.2 million.
• The overall odds of winning a Powerball prize (across all tiers) are about 1 in 24.9.  

How to play Powerball

To participate in the Powerball game, players can purchase a ticket for $2 per play. The game requires players to choose five numbers from one to 69 for the white balls, and one number from one to 26 for the red Powerball. Alternatively, players can opt to receive random numbers.

In order to win the jackpot, it is necessary to match the numbers for all of the five white balls and the red Powerball.

In addition to the grand prize, Powerball offers eight other ways to win based on the number of matched balls in the non-jackpot tiers.

The non-jackpot prizes offered range from $4 to $1 million. By paying an additional $1, you can choose to participate in "Powerplay" that increases non-jackpot winnings by 2, 3, 4, 5, or 10 times.

According to Powerball, the 10X Powerplay option is exclusively applicable to jackpots worth $150 million or less. Additionally, the game's "Match 5" prize for the second-tier is limited to a maximum of $2 million if the Powerplay feature is utilized.

An additional add-on feature called "Double Play," which gives players another chance to match their numbers after each Powerball drawing, is available in some jurisdictions for $1 per play.

Where can you buy lottery tickets?  

Tickets can be purchased in-person at gas stations, convenience stores and grocery stores. Some airport terminals may also sell lottery tickets.  

You can also order tickets online through Jackpocket, the official digital lottery courier of the USA TODAY Network, in these U.S. states: Arizona, Arkansas, Colorado, Idaho, Massachusetts, Minnesota, Montana, Nebraska, New Hampshire, New Jersey, New Mexico, New York, Ohio, Oregon, Texas, Washington D.C. and West Virginia. The Jackpocket app allows you to pick your lottery game and numbers, place your order, see your ticket and collect your winnings all using your phone or home computer.  

Jackpocket is the official digital lottery courier of the USA TODAY Network. Gannett may earn revenue for audience referrals to Jackpocket services. Must be 18+, 21+ in AZ and 19+ in NE. Not affiliated with any State Lottery. Gambling Problem? Call 1-877-8-HOPE-NY or text HOPENY (467369) (NY); 1-800-327-5050 (MA); 1-877-MYLIMIT (OR); 1-800-GAMBLER (all others). Visit jackpocket.com/tos for full terms and conditions.