The Powerball® jackpot just hit an estimated $1 billion for Saturday night’s drawing. After reviewing national ticket sales, game leaders increased the Powerball jackpot estimate Friday morning from $950 million to $1 billion, according to the Multi-State Lottery Association. Saturday’s jackpot has an estimated cash value of $453.1 million.
This is the sixth Powerball jackpot to reach the billion-dollar mark in the game’s 33-year history.
“We’re bringing extra excitement to Labor Day Weekend with a Powerball jackpot that’s climbed to a billion dollars!” said Matt Strawn, Powerball Product Group Chair and Iowa Lottery CEO. “For just $2, every ticket is a chance to win big, while also giving back to public programs and services that benefit communities wherever Powerball is played.”
Saturday’s Powerball drawing will be broadcast live at 10:59 p.m. ET from the Florida Lottery draw studio in Tallahassee, Fla. The Powerball drawing will also be live streamed on Powerball.com.
If a player wins Saturday’s jackpot, they will have the choice between an annuitized prize estimated at $1 billion or a lump sum payment estimated at $453.1 million. Both prize options are before taxes. If the winner selects the annuity option, they will receive one immediate payment followed by 29 annual payments that increase by 5-percent each year.
Saturday’s drawing will be the 39th drawing since the Powerball jackpot was last won in California on May 31, 2025. The summer jackpot streak has already created 62 winning tickets worth $1 million or more, and 608 winning tickets worth $50,000 or more.
Powerball® tickets are $2 per play. Tickets are sold in 45 states, the District of Columbia, Puerto Rico and the U.S. Virgin Islands. More than half of all proceeds from the sale of a Powerball ticket remain in the jurisdiction where the ticket was sold. Since its first drawing in 1992, the Powerball game has helped generate more than $36 billion for good causes supported by U.S. lotteries.
Powerball drawings are broadcast live every Monday, Wednesday and Saturday at 10:59 p.m. ET from the Florida Lottery draw studio in Tallahassee, Fla. Powerball drawings are also live streamed on Powerball.com.
The overall odds of winning a prize are 1 in 24.9. The odds of winning the jackpot are 1 in 292.2 million.
Top Ten Powerball® Jackpots
- $2.04 Billion – Nov. 7, 2022 – CA
- $1.765 Billion – Oct. 11, 2023 - CA
- $1.586 Billion – Jan. 13, 2016 – CA, FL, TN
- $1.326 Billion – April 6, 2024 - OR
- $1.08 Billion – July 19, 2023 – CA
- $1.0 Billion (estimated) – Aug. 30, 2025
- $842.4 Million – January 1, 2024 – MI
- $768.4 Million – March 27, 2019 – WI
- $758.7 Million – Aug. 23, 2017 – MA
- $754.6 Million – Feb. 6, 2023 - WA