Powerball Jackpot Soars to $1 Billion: Here’s What to Know

And just like that—America is staring at another billion-dollar jackpot. Powerball has once again rolled its way into the record books, giving lottery players across the country one more reason to dream big.

The Florida Lottery confirmed on Friday, Aug. 29, that the jackpot for Saturday’s drawing would cross the $1 billion mark. Just a couple of days earlier, the prize was sitting at $950 million after nobody matched all six numbers on Wednesday, Aug. 27. With no winners in sight, the pot kept climbing until it officially hit that magical 10-digit milestone.

This isn’t the first time we’ve seen numbers like these. In fact, this is only the 13th time in U.S. history that either Powerball or Mega Millions has soared to $1 billion or more. But only once has a jackpot ever gone past $2 billion—a record that still makes headlines.

A Jackpot That Keeps Rolling

The road to this monster payout started all the way back in early June, when Powerball reset to $20 million. Since then, drawing after drawing has ended without a grand prize winner, letting the total snowball into a figure that lands in the Top 10 biggest Powerball jackpots of all time.

To put the climb into perspective:

• By June 11, it had already hit $65 million.

• By July 30, it was at $384 million.

• By mid-August, it was topping $600 million.

• And now, after months of suspense, it stands tall at $1 billion.

This isn’t even the first rollover streak of the year. The last big reset came on May 31, 2025, when a California ticket nailed the $207 million jackpot. That winner took home the top prize, while other players in Florida and New Hampshire matched 5 plus Power Play to grab $2 million each. One of those lucky tickets came from a small liquor store in Port St. Lucie, Florida.

Powerball by the Numbers

So, what’s the catch? The odds. Matching all six numbers in Powerball is a long shot—1 in 292.2 million to be exact. But smaller prizes start at just $2, and the excitement of seeing those bouncing white balls keeps millions of players tuning in.

Drawings take place every Monday, Wednesday, and Saturday at 11 p.m. ET, including holidays. That means the next chance to strike it rich is coming up fast—Saturday, Aug. 30.

Where This Jackpot Ranks in History

Big jackpots have become more common in recent years, but the billion-dollar club is still an exclusive group. Here’s a look at the Top 10 biggest Powerball jackpots as of Aug. 29, 2025:

1. $2.04 billion – Nov. 7, 2022; California

2. $1.765 billion – Oct. 11, 2023; California

3. $1.586 billion – Jan. 13, 2016; shared by winners in California, Florida, and Tennessee

4. $1.33 billion – April 6, 2024; Oregon

5. $1.08 billion – July 19, 2023; California

6. $1 billion – Aug. 30, 2025; winner TBD
   … and the list goes on, with several jackpots landing in the $700–800 million range.

It’s worth noting that California has sold the largest number of record-breaking tickets, including the only $2 billion jackpot ever won.

The Billion-Dollar Club: Powerball + Mega Millions

As of August 2025, there have been just 13 jackpots in U.S. history that hit $1 billion or more, across both Powerball and Mega Millions. Among the biggest names:

• Edwin Castro of California, who scooped the $2.04 billion Powerball in 2022.

• Theodorus Struyck of California, who claimed $1.73 billion in 2023.

• Anonymous winners in South Carolina and Illinois, who each snagged Mega Millions jackpots north of $1.3 billion.

• Michigan’s “Wolverine FLL Club,” who grabbed $1.05 billion in 2021.

These aren’t just lottery wins—they’re life-changing, generational fortunes.

What’s Next?

With the pot officially at $1 billion, the country is buzzing. Some will grab just a ticket or two for fun, while others will dive in with group pools and office bets. Everyone knows the odds are slim, but as they say: you can’t win if you don’t play.

So whether the billion goes to a lone player or is shared among multiple winners, one thing is certain—this Powerball run is already one for the history books.

👉 Key Takeaways:

• Powerball jackpot is now $1 billion for the Aug. 30 drawing.

• It’s the 13th billion-dollar jackpot in U.S. history.

• Odds of winning the grand prize: 1 in 292.2 million.

• Biggest jackpot ever: $2.04 billion in 2022, California.