What Is the Largest Powerball Jackpot in History? Mega Millions vs Powerball Top Wins Explained

The Powerball jackpot has climbed to a massive $1.3 billion ahead of the next drawing. This happened after no one matched all numbers in the recent Labor Day draw. Many are now wondering if this is the largest jackpot ever.

The short answer is no. But it’s still one of the biggest prizes in lottery history.

Powerball Still Holds the Record for Largest Jackpot Ever

The largest Powerball jackpot ever was $2.04 billion. It was won on November 7, 2022, by a single ticket sold in California. The cash option was nearly $1 billion. This win remains the biggest lottery prize in the world.

In comparison, Wednesday’s $1.3 billion jackpot ranks as the fourth-largest Powerball prize and the ninth-largest in U.S. history. The winning numbers on September 1 were 08, 23, 25, 40, 53 with Powerball 05. There was no jackpot winner.

Powerball drawings happen three times a week — on Monday, Wednesday, and Saturday — at 10:59 p.m. ET. Tickets cost $2, and the odds of winning the jackpot are 1 in 292.2 million.

How Mega Millions and Powerball Compare in Jackpot History

Powerball and Mega Millions have both produced billion-dollar jackpots. Here’s a side-by-side look at the top lottery wins:

Powerball: $2.04B – Nov. 7, 2022 (California)

Powerball: $1.765B – Oct. 11, 2023 (California)

Mega Millions: $1.602B – Aug. 8, 2023 (Florida)

Powerball: $1.586B – Jan. 13, 2016 (CA, FL, TN)

Mega Millions: $1.537B – Oct. 23, 2018 (South Carolina)

Mega Millions: $1.350B – Jan. 13, 2023 (Maine)

Mega Millions: $1.337B – July 29, 2022 (Illinois)

Powerball: $1.326B – April 7, 2024 (Oregon)

Mega Millions: $1.22B – Dec. 27, 2024 (California)

Mega Millions: $1.13B – March 26, 2024 (New Jersey)

Powerball currently holds the record for both the largest and second-largest jackpots. Mega Millions follows closely, with several prizes over $1.3 billion.

Why These Jackpots Matter to Players

As the jackpot grows, so does interest. Millions are buying tickets hoping for life-changing wins. However, only a few states don’t participate. These are Alabama, Alaska, Hawaii, Mississippi, Nevada, and Utah.

In most states, ticket sales close 1 hour before the drawing. For example, in New York the cutoff is 10 p.m. In Pennsylvania, it’s 9:59 p.m.

Even if no one wins the jackpot, many players will win smaller prizes. Still, most eyes are on the grand prize and the chance to break history.

The largest Powerball jackpot in history was $2.04 billion. While Wednesday’s $1.3 billion draw is huge, it’s not the biggest — yet.

FYI (keeping you in the loop)-

Q1: What is the largest Powerball jackpot in history?

The largest Powerball jackpot was $2.04 billion, won in California in 2022.

Q2: Which lottery has the bigger jackpots, Powerball or Mega Millions?

Powerball has the biggest jackpot at $2.04B. Mega Millions follows with a $1.602B prize.

Q3: What are the odds of winning Powerball?

The odds are 1 in 292,201,338 per play. Very slim but possible.

Q4: When is the next Powerball draw?

The next Powerball drawing is Wednesday, September 3, at 10:59 p.m. ET.

Q5: How does Powerball work?

Players pick 5 white balls from 1–69 and 1 red Powerball from 1–26. Match all to win the jackpot.