Powerball Jackpot Climbs to $1 Billion for Tonight’s Drawing

The Powerball® jackpot has officially surged to an estimated $1 billion for Saturday night’s drawing, after game leaders raised the total from $950 million following a review of national ticket sales. The jackpot now carries a cash option of $453.1 million before taxes.

This marks only the sixth time in Powerball’s 33-year history that the jackpot has reached the billion-dollar milestone.

“We’re bringing extra excitement to Labor Day Weekend with a Powerball jackpot that’s climbed to a billion dollars!” said Matt Strawn, Powerball Product Group Chair and Iowa Lottery CEO. “For just $2, every ticket is a chance to win big, while also giving back to public programs and services that benefit communities wherever Powerball is played.”

Drawing Details

Saturday’s drawing will take place at 10:59 p.m. ET from the Florida Lottery draw studio in Tallahassee and will be broadcast live, as well as streamed on Powerball.com.

If a winner is drawn, they will have the option of an annuitized prize worth $1 billion—paid over 30 years with annual increases of 5%—or a lump sum of $453.1 million.

The upcoming drawing will be the 39th consecutive since the jackpot was last hit in California on May 31, 2025. In that time, the summer streak has produced 62 winning tickets worth $1 million or more, along with 608 tickets worth $50,000 or more.

Powerball by the Numbers

Tickets are sold in 45 states, D.C., Puerto Rico, and the U.S. Virgin Islands.
Each play costs $2.
Odds of winning any prize: 1 in 24.9.
Odds of winning the jackpot: 1 in 292.2 million.
Since its debut in 1992, Powerball has generated over $36 billion for good causes supported by U.S. lotteries.