The Powerball jackpot has surged to $1 billion ahead of Saturday night’s drawing, marking the sixth-largest prize in the game’s history. The increase follows 39 consecutive drawings without a grand prize winner, according to the Multi-State Lottery Association. The winning numbers from Wednesday’s draw—9, 12, 22, 41, 61 and Powerball 25—produced several million-dollar winners but no jackpot claimants.
Why It Matters
The $1 billion prize represents the largest lottery jackpot of 2025 to date and the largest Powerball offering since April 2024. For states that participate, the jackpot also drives revenue and attention to public programs funded by lottery proceeds.
What To Know
To win the full jackpot, players must match all five white balls plus the red Powerball. The odds of doing so are 1 in 292.2 million. Smaller prizes range from $4 to $2 million, depending on the number of matches and whether the Power Play option is selected.
Winners can choose between a 30-year annuity worth $1 billion or a lump-sum cash payout of $453.1 million. The lump sum is subject to a mandatory 24 percent federal withholding, resulting in a payout of approximately $344 million. However, most winners fall into the top federal tax bracket (37 percent), which could lower the final take-home to roughly $285.3 million.
State taxes vary widely. New York, for example, levies a 10.9% tax on lottery winnings, while states like Florida, Texas, and California impose no state tax at all. This means a winner’s location could affect their final payout by tens of millions of dollars.
Powerball drawings occur every Monday, Wednesday, and Saturday at 10:59 p.m. ET. Tickets are sold in 45 states, Washington, D.C., Puerto Rico, and the U.S. Virgin Islands. Five states—Alabama, Alaska, Hawaii, Nevada, and Utah—do not participate in this drawing.
The last Powerball jackpot over $1 billion was claimed in April 2024 in Oregon. The most significant win since then was $526.5 million in March 2025 in California.
Lottery winnings are considered taxable income. In addition to the initial withholding, winners must report the full amount on their 2025 tax return. Depending on deductions and other income, the final tax bill may be significantly higher than the amount withheld.
What People Are Saying
Matt Strawn, Powerball Product Group Chair and Iowa Lottery CEO, said in a statement: “We’re bringing extra excitement to Labor Day Weekend with a Powerball jackpot that’s climbed to a billion dollars! 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.
What Happens Next?
Tonight’s Powerball drawing will be broadcast live at 10:59 p.m. ET from the Florida Lottery draw studio in Tallahassee. The drawing will also be live streamed on Powerball.com.
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