The Powerball jackpot has surged to a staggering $1.7 billion, making it the third-largest prize in the history of the multi-state lottery game, according to lottery officials. (The two higher awards were only set in 2022 and 2023.) No ticket matched all six numbers in Wednesday night’s drawing, causing the jackpot, which previously stood at $1.4 billion, to roll over, likely to draw even more attention from players.
The jackpot stands as only the third prize in Powerball ever to surpass $1.7 billion, trailing the all-time record of $2.04 billion won in California in November 2022 and the $1.765 billion jackpot captured in October 2023. If a single ticket matches all six numbers on Saturday, the winner can select either the full annuity—a payout over 30 years totaling $1.7 billion—or a lump sum estimated at approximately $770.3 million before taxes. Federal taxes would immediately claim up to 37%, and winners in some states may owe additional state taxes, but states such as Florida, Texas, and California do not tax lottery prizes.
The odds of winning the Powerball jackpot are one in 292.2 million, according to official lottery data. For non-jackpot prizes, the overall odds are a more favorable one in 24.87.
The drawing marks the 41st consecutive round without a grand-prize winner since the last jackpot was claimed on May 31, 2025, in California. As ticket sales swell, education and public programs in participating states stand to benefit from increased lottery revenues.
The next Powerball drawing is set for Saturday, September 6, at 10:59 p.m. Eastern—and with the prize pool growing rapidly, officials say it could become an all-time record if a winner isn’t crowned soon.
For this story, Fortune used generative AI to help with an initial draft. An editor verified the accuracy of the information before publishing.
