The Powerball jackpot has risen to an estimated $930 million, becoming the second-largest prize of 2025. Winners may take a $429 million lump-sum payment or an annuity that pays $930 million over 30 years, both before taxes. The odds of winning the jackpot are roughly 1 in 292.2 million, and tickets cost $2 in most U.S. jurisdictions.
Powerball Nears $1 Billion: Jackpot Climbs to $930M — 2025's Second-Largest Prize
Powerball lottery ticket forms at Bluebird Liquor on Monday, December 1, in Hawthorne, California. - Juliana Yamada/Los Angeles Times/Getty Images
The Powerball jackpot has climbed to an estimated $930 million, making it the second-largest prize of 2025, the Multi-State Lottery Association said Wednesday.
If a ticket matches all numbers in the next drawing, the winner will choose between an estimated $429 million lump-sum cash payout or an annuitized prize that pays the advertised $930 million in 30 annual installments. Both options are quoted before federal and state taxes.
Odds and Prize Structure
The odds of hitting the jackpot are extremely long — about 1 in 292.2 million. Smaller prizes, which range from $4 to $1 million, offer significantly better odds of winning.
Recent History and Winners
The record September jackpot of $1.787 billion was won by ticket holders in Texas and Missouri, who split the prize.
Where You Can Buy Tickets
Tickets cost $2 in nearly every U.S. state, as well as in Washington, D.C., Puerto Rico and the U.S. Virgin Islands. Five states — Alabama, Utah, Alaska, Hawaii and Nevada — do not participate in Powerball for a mix of political, legislative and economic reasons, including lobbying efforts and a lack of incentives to authorize state lotteries.
Drawing Schedule
Powerball drawings are held every Monday, Wednesday and Saturday at 10:59 p.m. Eastern Time. The current prize level has attracted wide attention from players and the media.
Note: All prize estimates are reported before taxes. Players should consult their state lottery office or tax advisor for details about withholding and payout options.
