The Powerball jackpot has surged to an impressive $1.8 billion, positioning it as the largest prize offered in 2025 to date. This increase follows an extended period without a winner, with the last successful ticket being drawn on May 31. As of Wednesday, the streak of drawings without a jackpot winner reached 41, as no player matched the five white balls and the red Powerball.
This growing jackpot is not just significant for its size; it also ranks among the largest lottery prizes in United States history. If a winner emerges on Saturday, they will have the option to choose between the $1.8 billion annuity, which is paid out over 29 years, or a lump sum of approximately $826.4 million before taxes.
Historic Jackpots and Their Context
The Powerball has experienced a surge in jackpot sizes in recent years. The current prize, if won, would rank as the second largest ever, following the record of $2.04 billion set on November 7, 2022. The following is a list of the ten largest jackpots in U.S. lottery history:
– $2.04 billion – November 7, 2022 (Powerball)
– $1.8 billion – September 6, 2025 (Powerball)
– $1.765 billion – October 11, 2023 (Powerball)
– $1.602 billion – August 8, 2023 (Mega Millions)
– $1.568 billion – January 13, 2016 (Powerball)
– $1.537 billion – October 23, 2018 (Mega Millions)
– $1.348 billion – January 13, 2023 (Mega Millions)
– $1.326 billion – April 6, 2024 (Powerball)
– $1.27 billion – December 27, 2024 (Mega Millions)
– $1.13 billion – March 26, 2024 (Mega Millions)
Jackpot amounts are typically based on winners selecting the annuity option, which has benefited from higher interest rates that have increased the payout amounts, according to Powerball officials. Notably, despite the odds of winning remaining consistent over the past decade, four of the five largest Powerball jackpots have been awarded within the last three years during a period of elevated federal interest rates.
Understanding the Odds and Player Participation
The odds of winning the Powerball jackpot stand at approximately 1 in 292 million. Despite this daunting statistic, Powerball also offers a range of smaller prizes, with odds of winning any prize set at about 1 in 25. Players can win amounts ranging from $4 to $2 million.
Powerball is available in 45 states and Washington, D.C. Since the lottery modified its rules in 2015, making it more challenging to hit all six numbers, the average number of jackpot winners has declined to between six and nine annually. Remarkably, all ten of the largest Powerball jackpots have been won since that rule change.
In the past decade, there have been 69 Powerball jackpot winners, but only one has opted for the annuity payout instead of the cash option. As the excitement builds ahead of Saturday’s drawing, players across the participating regions eagerly await the outcome, hoping to join the ranks of those who have struck it rich.