The Powerball jackpot now stands at an estimated $1.6 billion, making it one of the largest lottery prizes in U.S. history, Powerball officials said Sunday. No ticket matched all six winning numbers on Saturday — white balls 4, 5, 28, 52, 69 and red Powerball 20. That sets up the fifth-largest U.S. jackpot ever for Monday’s drawing, according to a news release from Powerball. The biggest U.S. jackpot was $2.04 billion in 2022. The winner bought the ticket in California and opted for a lump-sum payment of $997.6 million. The odds of winning Monday’s jackpot, which is the fourth-largest in Powerball history, are 1 in 292.2 million, according to Powerball. The winner can opt for a lump-sum payment estimated at $735.3 million or an annuitized prize estimated at $1.6 billion. Both prize options are before taxes. The annuity option offers one immediate payment followed by 29 annual payments that increase by 5% each year, Powerball said. Powerball is available in 45 states, Washington, D.C., Puerto Rico and the U.S. Virgin Islands. It is overseen by the Multi-State Lottery Association, a nonprofit group made up of state lotteries. Profits from ticket sales are used by states to support public education and other services. This story was originally featured on Fortune.com ...read more read less