Powerball jackpot hits $1.7 billion, the third highest in lottery history

After no ticket holder claimed the $1.3 billion prize on Wednesday, the jackpot increased to a whopping $1.7 billion, according to the lottery's website.  The posted odds of actually winning the mega prize are 1 in 292.2 million.

Saturday could award a winner with the most lottery prize money surpassed by only two previous $1 billion-plus winners. 

On Nov. 7, 2022, California's Edwin Castro claimed the $2.04 billion prize, setting a world-record by winning the largest Powerball jackpot in history. The enormous prize caused commotion, with someone else filing a lawsuit based on a claim that he actually had purchased the winning ticket, alleging it had been stolen from him, according to an ABC News report at the time. However, Castro still took home $997.6 million, the cash value of the jackpot.

Theodorus Struyck, who represented a group of winners, claimed the jackpot valued at $1.765 billion, the second-largest prize ever, on Oct. 11, 2023, also in California. 

The last time someone won the Powerball jackpot was on May 31, 2025 in lucky California, marking Saturday as the 42nd drawing since it was won — a record by itself for the “most consecutive drawings” without a winner, according to Powerball. 

If Saturday’s drawing has a winner, they can choose between an annuitized prize around $1.7 billion or a one-time payment of about $770.3 million before taxes. If they choose the first option, then they’ll get a payment right away followed by 29 annual payments that grow by 5% every year, according to Powerball. 

More than 6.3 million ticket holders won cash prizes outside of the jackpot on Wednesday, including four who won $2 million and 11 more who won $1 million prizes. 

The Powerball lottery is managed by the Multi-State Lottery Association and is played in 45 states, Washington D.C., Puerto Rico, and the U.S. Virgin Islands.