Powerball Jackpot Reaches $1.40 Billion for Tonight’s Drawing

TALLAHASSEE, Fla. — The Powerball jackpot has soared to an estimated $1.40 billion for tonight’s drawing. Officials raised the estimate earlier today after assessing the surge in national ticket sales.

The cash value for this massive jackpot is approximately $634.3 million. This evening’s drawing is significant, ranking as the fourth largest in Powerball history and the sixth largest among U.S. lottery games.

“Tonight could be the night this billion-dollar Powerball jackpot is won!” said Matt Strawn, Powerball Product Group Chair and CEO of the Iowa Lottery. “Players are eager to take another shot at this growing jackpot, but we remind everyone to play responsibly. It only takes one $2 ticket to win — all while supporting good causes in your community.”

This drawing will be broadcast live at 10:59 p.m. ET from the Florida Lottery draw studio in Tallahassee. It will also be available for live streaming on Powerball’s official website.

Winners can choose between receiving an annuitized prize estimated at $1.40 billion or a lump sum payment of $634.3 million, both before taxes. The annuity option involves one immediate payment followed by 29 increasing annual payments.

The upcoming drawing is the 41st attempt since the last jackpot was won on May 31, 2025, in California. The recent streak of the summer Powerball has already produced 86 winning tickets worth $1 million or more.

Powerball tickets cost $2 and are sold in 45 states, the District of Columbia, Puerto Rico, and the U.S. Virgin Islands. Over half of the proceeds from ticket sales remain in the area where the tickets are purchased. Since its inception in 1992, the Powerball game has generated over $36 billion for various charitable causes supported by U.S. lotteries.

Tonight’s drawing could change someone’s life forever as the odds of winning the jackpot stand at 1 in 292.2 million, while the overall chances of winning any prize are 1 in 24.9.