The U.S. Powerball jackpot rose to $1.7 billion ahead of Wednesday night’s draw, growing after Monday’s drawing produced no winner. The drawing was scheduled for 10:59 p.m. ET with odds of 1 in 292.2 million. Winners may choose a $1.7 billion annuity paid over 29 years or a roughly $781.3 million lump sum before taxes. The prize is the fourth-largest in Powerball history; the record remains $2.04 billion in 2022.
Powerball Soars to $1.7 Billion Ahead of Christmas Draw
FILE PHOTO: A person holds tickets for the $1.25 billion jackpot in the Powerball lottery drawing in New York City, U.S. December 17, 2025. REUTERS/Eduardo Munoz/File Photo
Dec 24 (Reuters) - The U.S. Powerball jackpot climbed to $1.7 billion ahead of Wednesday night’s drawing, putting one of the largest lottery prizes in American history within reach just in time for the Christmas holiday.
The prize increased after Monday’s drawing produced no jackpot winner, allowing the payout to continue rising. The next drawing was scheduled for 10:59 p.m. ET on Wednesday (0359 GMT on Thursday), with the odds of hitting the jackpot at 1 in 292.2 million.
What Winners Can Choose
According to the official Powerball website, the jackpot winner can elect an annuitized payout of $1.7 billion paid over 29 years or a lump-sum cash option of roughly $781.3 million before taxes. The annuity is paid in increasing installments over the 29-year period.
This prize ranks as the fourth-largest Powerball jackpot on record and is among the biggest U.S. lottery prizes. The largest Powerball jackpot to date remains the $2.04 billion prize won in California in 2022.
Historically, Powerball’s top prize has been won once on Christmas Eve (2011) and four times on Christmas Day. In Monday’s drawing, nine secondary prizes of $1 million were claimed nationwide.
State Revenues and Public Programs
Large jackpots typically drive increased ticket sales, which boost revenue for state lottery funds that support education and other public programs. That surge in interest often continues while a jackpot is climbing.
Reporting by Reuters; Editing by Howard Goller
