Breaking News: Powerball Jackpot Soars to $1.8 Billion, Second-Largest in U.S. History

The Powerball jackpot has climbed to an estimated $1.8 billion. The draw will take place on Saturday night in Tallahassee, Florida. This makes it the second-largest lottery prize in U.S. history. The cash value is an estimated $826.4 million before taxes.

According to lottery officials, this is the 42nd draw since the jackpot was last won on May 31. The largest Powerball jackpot ever was $2.04 billion, won in California in November 2022. Officials say excitement is rising across the country as players rush to buy tickets.

Powerball Jackpot Details and Payout Options

Players can choose between the full $1.8 billion annuity, paid over 30 years, or the lump sum of $826.4 million. Both options are subject to federal and state taxes. The odds of winning the jackpot remain 1 in 292.2 million.

The jackpot run has already created 101 tickets worth $1 million or more. More than 1,000 tickets have won $50,000 or higher. Powerball tickets cost $2 and are sold in 45 states, plus Washington, D.C., Puerto Rico, and the U.S. Virgin Islands.

Lottery leaders encourage responsible play. Each ticket also helps fund education, infrastructure, and other community programs. More than half of proceeds stay in the state where tickets are sold. According to Reuters, the game has generated over $36 billion for good causes since 1992.

Record-Breaking Prizes and Player Impact

The new jackpot ranks just below the record $2.04 billion prize. It is also larger than the $1.765 billion won in California in October 2023. Other top jackpots include $1.586 billion in 2016 and $1.326 billion in Oregon in 2024.

Big jackpots bring more ticket sales. That means more revenue for state programs, but also higher risk for players who chase big wins. Experts remind players that most tickets do not win large prizes. Still, the dream of becoming a billionaire continues to fuel nationwide excitement.

For many, the Powerball jackpot represents hope, fun, and a chance at life-changing money. The Saturday night draw will be broadcast live at 10:59 p.m. ET from the Florida Lottery studio.

The Powerball jackpot has reached historic levels again. Millions will be watching Saturday to see if a new billionaire is crowned.

FYI (keeping you in the loop)-

Q1: What is the current Powerball jackpot?

The jackpot is now estimated at $1.8 billion. It is the second-largest prize in U.S. lottery history.

Q2: When is the next Powerball drawing?

The drawing takes place Saturday at 10:59 p.m. ET. It will be broadcast live from Florida.

Q3: How much is the cash value of the jackpot?

The cash option is $826.4 million before taxes. The annuity option pays $1.8 billion over 30 years.

Q4: Where can you buy Powerball tickets?

Tickets are sold in 45 states, plus D.C., Puerto Rico, and the U.S. Virgin Islands. Each ticket costs $2.

Q5: What are the odds of winning the jackpot?

The odds of winning the jackpot are 1 in 292.2 million. Smaller prizes have better odds.