According to Powerball, the grand prize for Powerball is now worth an estimated $700 million, with a cash value of $316 million. The current total is the 11th largest jackpot in the game’s history and the largest Powerball top prize in over a year.
If a ticket matches all six numbers in Saturday’s drawing, the winner can choose between an annuity worth $700 million and a lump-sum cash payment worth $316 million. Before taxes, both choices are available. With the annuity option, the winner gets one payment right away and then 29 payments every year that go up by 5% each year. Powerball said that Saturday’s drawing will be the 36th since the jackpot was last won in California on May 31, 2025.
The game has given out more than 17.3 million winning tickets this cycle (June 2–Aug. 20), including 50 tickets worth $1 million or more and 483 tickets worth $50,000 or more. In California, the amount of the prize depends on sales and the number of winners.
Powerball tickets are available for $2 each in 45 states, the District of Columbia, Puerto Rico, and the U.S. Virgin Islands. More than half of the money from each ticket goes to the place where it was sold. Powerball has raised more than $36 billion for U.S. lottery programs since the first drawing in 1992.
Every Monday, Wednesday, and Saturday at 10:59 p.m. Eastern, drawings happen live from the Florida Lottery studio in Tallahassee. You can also watch them live on Powerball.com. There is a 1 in 24.9 chance of winning any prize, and a 1 in 292.2 million chance of winning the jackpot.
The Biggest Powerball Jackpots Ever
$2.04 billion—California—November 7, 2022
California: $1.765 billion on October 11, 2023
$1.586 billion on January 13, 2016, in California, Florida, and Tennessee
Oregon, April 6, 2024: $1.326 billion
$1.08 billion—California—July 19, 2023
$842.4 million on January 1, 2024, in Michigan
$768.4 million on March 27, 2019, in Wisconsin
Massachusetts: $758.7 million on August 23, 2017
$754.6 million—February 6, 2023—Washington
Maryland: $731.1 million on January 20, 2021
When claiming prizes, players should check the local cutoff times for sales, sign winning tickets, and follow state lottery rules. Play responsibly, and keep in mind that even though winning can be fun, you should always be careful and know the odds when you play the lottery. No matter if you play for fun or to win a life-changing jackpot, it’s important to stay informed and responsible.
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