Sarah Day celebrates winning Powerball on behalf of Gary Krigbaum at Powerball First Millionaire of the Year during Dick Clark's New Year's Rockin' Eve With Ryan Seacrest 2023 on January 1, 2023 in New York City. (Photo by Rob Kim/Getty Images for dick ...

VARIOUS CITIES - JANUARY 1: Sarah Day celebrates winning Powerball on behalf of Gary Krigbaum at Powerball First Millionaire of the Year during Dick Clark's New Year's Rockin' Eve With Ryan Seacrest 2023 on January 1, 2023 in New York City. (Photo by Rob Kim/Getty Images for dick clark productions)

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The current Powerball jackpot has reached an estimated $700 million, and that staggering figure is part of a larger trend.

Billion-dollar lottery jackpots, once rare, are happening more often than ever. Five of the 10 largest lotto jackpots occurred in 2021 and 2022, according to an analysis by The Associated Press. And 2022 alone saw jackpots that topped $1 billion. 

Originally published on nerdwallet.com, part of the BLOX Digital Content Exchange.

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