Published: September 26, 2023

California Lottery shares the wealth with public schools ahead of $785 million jackpot

The California Lottery said it's exceeded $2 billion in fundraising for public education for the first time in history.

The California Lottery has raised an estimated $53.8 million for public education ahead of Monday’s Powerball jackpot drawing, which is worth approximately $785 million. 

After 28 consecutive drawings without a top-prize winner, the jackpot has been accumulating for two months. The cash value of Monday's jackpot prize is $367 million. Tickets are sold for $2 each — about 80 cents of which help fund programs, services and resources for schools. 

“We’re right back in this thrilling environment – that feeling when the jackpot is creeping towards a billion dollars,” California Lottery spokesperson Carolyn Becker said in a press release. “It’s exciting not only because someone in California could once again hit it big, but also for those who benefit from the Lottery, which are public schools.”

On Aug. 23, the California Lottery announced that a record $2.07 billion had been raised for public education during the 2021-2023 fiscal year. As of August, the California Lottery has raised over $41.5 billion for public schools since its inception in 1985, according to the California Lottery.

All top three Powerball jackpots have been won by a California ticket: $2.04 billion in Nov. 2022, $1.586 billion in Jan. 2016 and $1.08 billion this past July.

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