The Powerball jackpot has grown to an estimated $1.25 billion ahead of Wednesday night’s drawing, giving players across the country another chance at one of the largest lottery prizes in U.S. history. The jackpot carries an estimated cash value of $572.1 million.
The prize is the second-largest Powerball jackpot this year, trailing only the $1.787 billion jackpot won Sept. 6 by tickets sold in Missouri and Texas. It marks just the second time in Powerball history that the game has produced back-to-back billion-dollar jackpots.
“Powerball has only seen back-to-back to billion-dollar jackpots twice, and this one has arrived just in time for the holidays,” said Matt Strawn, Iowa Lottery CEO and Powerball Product Group Chair. “While it’s exciting to see the jackpot climb to this level, please remember to play responsibly. A single $2 ticket gives you a chance to win, while also supporting good causes in your community.”
The jackpot rolled over again after no ticket matched all six numbers drawn in Monday night’s drawing: white balls 23, 35, 59, 63 and 68, and red Powerball 2. The Power Play multiplier was 4.
While there was no jackpot winner, lottery officials said multiple players nationwide won significant prizes. Two tickets sold in Arizona and California matched all five white balls to win $1 million each. The drawing also produced 43 tickets worth $50,000 and 14 tickets worth $200,000. In California, prize amounts are determined on a pari-mutuel basis and vary based on ticket sales and the number of winners.
Wednesday’s drawing will be the 44th in the current jackpot run, setting a Powerball record for the most drawings in a single jackpot cycle. The last time the jackpot was won was Sept. 6, when two tickets split the $1.787 billion prize.
The only other instance of back-to-back billion-dollar Powerball jackpots occurred in 2023, when a $1.08 billion prize was won on July 19, followed by a $1.765 billion jackpot on Oct. 11. Both winning tickets were sold in California.
If a player wins Wednesday’s jackpot, they will have the choice between an annuity estimated at $1.25 billion or a lump-sum payment estimated at $572.1 million, before taxes. The annuity option includes an initial payment followed by 29 annual payments that increase by 5% each year.
Powerball tickets cost $2 per play and are sold in 45 states, the District of Columbia, Puerto Rico and the U.S. Virgin Islands. Lottery officials note that more than half of all proceeds remain in the jurisdiction where the ticket is sold, supporting education and other public programs. Since its debut in 1992, Powerball has generated more than $37 billion for good causes nationwide.
The overall odds of winning any Powerball prize are 1 in 24.9, while the odds of winning the jackpot are 1 in 292.2 million.
