US EditionPowerball Climbs to $1 Billion Ahead of Saturday's Drawing: What to Know
The jackpot has grown due to 39 consecutive drawings without a grand prize winner, producing 62 million-dollar winners and 608 prizes of $50,000 or more, officials said.
- On Saturday, Aug. 30, 2025, Powerball reached an estimated $1 billion jackpot with an annuity prize of $1 billion and a $453.1 million cash option.
- After a 39-drawing streak without a winner, the jackpot swelled as no one matched all six numbers since May 31, 2025, the Multi-State Lottery Association reported.
- With drawings three times weekly at 10:59 p.m. ET, Powerball tickets cost $2 per play and the jackpot odds are 1 in 292,201,338; recent draws featured million-dollar Match 5 winners in Mississippi, Ohio, Virginia, Arizona and New York.
- After taxes, winners should expect the 24% federal withholding to reduce the lump sum to about $344 million, with state taxes varying from no tax in Florida, Texas, California to 10.9% in New York.
- After Saturday's drawing, the next Powerball draw is Monday, September 1; the $1 billion milestone is only the 12th time a jackpot has reached that level.
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Winning numbers will be drawn Saturday for record Powerball jackpot
The Powerball jackpot has hit $1 billion. This is the sixth Powerball jackpot to hit the $1-billion mark in the lottery’s 33-year history. The $1 billion jackpot is for an annuity option, paid over 30 years. Winners almost always opt for the lump-sum cash prize, which for Powerball would be $453.1 million cash. The prize is subject to taxes, which includes an automatic withholding tax of 24% levied against the winnings, and another 13% in federa…
·San Francisco, United States
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Total News Sources15
Leaning Left8Leaning Right1Center4Last UpdatedBias Distribution62% Left
Bias Distribution
- 62% of the sources lean Left
62% Left
L 62%
C 31%
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