It is the question on everyone’s mind this holiday season: What would you do with over a billion dollars? That fantasy is one step closer to reality as the Powerball jackpot has surged to an estimated $1.25 billion for Wednesday night’s drawing.
After no ticket matched all six numbers on Monday, the prize pool rolled over, creating the second-largest Powerball jackpot of the year. For those looking for an immediate payout, the estimated cash value sits at a massive $572.1 million.
This current run marks a historic moment for the lottery. It is only the second time in the game’s history that back-to-back billion-dollar jackpots have been generated. The current prize trails only the $1.787 billion jackpot won on Sept. 6 by players in Missouri and Texas.
READ: Feeling Lucky? Florida Lottery Rolls Out 4 New Scratch-Offs With $281 Million Up For Grabs
“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 the excitement is palpable, officials are urging players to keep their heads.
“While it’s exciting to see the jackpot climb to this level, please remember to play responsibly,” Strawn added. “A single $2 ticket gives you a chance to win, while also supporting good causes in your community.”
A Record-Breaking Run
Wednesday’s drawing will be the 44th in the current jackpot cycle, setting a new game record for the most consecutive drawings without a grand prize winner. The last time the jackpot was hit was back in September.
Monday night’s drawing failed to produce a grand prize winner, with no ticket matching the white balls 23, 35, 59, 63, 68, and the red Powerball 2. The Power Play multiplier was 4.
READ: 4 Winners, $13.6 Million: Florida Lottery Reveals Latest Scratch-Off Millionaires
However, millions of dollars in smaller prizes were still paid out. Two tickets—sold in Arizona and California—matched all five white balls to win $1 million each. Additionally, 43 tickets won $50,000, and 14 tickets utilized the Power Play feature to win $200,000.
How the Payout Works
If a player beats the 1 in 292.2 million odds to win Wednesday’s jackpot, they will face a significant choice. They can accept the estimated $1.25 billion as an annuitized prize, which consists of one immediate payment followed by 29 annual payments that increase by 5% each year. Alternatively, they can take the lump sum payment of approximately $572.1 million. Both options are subject to taxes.
Powerball tickets are $2 per play and are available in 45 states, the District of Columbia, Puerto Rico, and the U.S. Virgin Islands. Drawings are broadcast live every Monday, Wednesday, and Saturday at 10:59 p.m. ET.
Top 10 Powerball Jackpots of All Time
- $2.04 Billion – Nov. 7, 2022 – CA
- $1.787 Billion – Sept. 6, 2025 – MO, TX
- $1.765 Billion – Oct. 11, 2023 – CA
- $1.586 Billion – Jan. 13, 2016 – CA, FL, TN
- $1.326 Billion – April 6, 2024 – OR
- $1.25 Billion (est.) – Dec. 17, 2025
- $1.08 Billion – July 19, 2023 – CA
- $842.4 Million – Jan. 1, 2024 – MI
- $768.4 Million – March 27, 2019 – WI
- $758.7 Million – Aug. 23, 2017 – MA
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