The Powerball jackpot has climbed to an estimated $1 billion for Wednesday night’s drawing, making it the biggest U.S. lottery jackpot offered so far in 2026 and one of the largest prizes in the game’s history.
No ticket matched all six numbers in Monday night’s drawing, extending the current run to 44 consecutive drawings without a jackpot winner. A winner tonight could choose the $1 billion annuity or an estimated $433.1 million lump-sum cash option, with both figures stated before taxes.
The drawing is scheduled for Wednesday, August 12, 2026, at 10:59 p.m. ET. Ticket-sale cutoff times vary by jurisdiction and can occur before the drawing.
Powerball jackpot details tonight
| Estimated jackpot | $1 billion |
| Estimated cash value | $433.1 million |
| Drawing time | 10:59 p.m. ET |
| Jackpot odds | 1 in 292,201,338 |
| Ticket price | $2 per play |
The latest jackpot amount, cash value and official results can be checked on the official Powerball website.
What were Monday’s winning numbers?
The winning numbers from Monday, August 10 were 6, 37, 54, 55 and 64. The red Powerball was 10, and the Power Play multiplier was 3X.
No ticket won the jackpot, but a Tennessee ticket matched all five white balls with Power Play to win $2 million. Tickets sold in California and Maryland also matched the five white balls. The standard Match 5 prize is $1 million, although California uses a pari-mutuel prize system.
Why did the jackpot reach $1 billion?
Powerball jackpots grow when nobody matches all five white balls and the red Powerball. The current run began after the jackpot was last won on May 2, 2026, when tickets sold in Florida and Texas shared a $20 million prize.
After more than three months and 44 drawings without another jackpot winner, the prize has reached the billion-dollar mark. A similar pattern developed when the Powerball jackpot climbed to $1.25 billion during an extended rollover run.
Why $1 billion is not the same as $1 billion in cash
The advertised $1 billion is the estimated annuity value. Under that option, a winner receives 30 graduated payments over 29 years.
The alternative is the estimated $433.1 million cash option, paid as a single amount before federal and any applicable state or local taxes.
That difference becomes especially important with very large jackpots. Similar questions surrounded the $1.817 billion Powerball jackpot won in Arkansas on Christmas Eve, where the advertised prize and immediate cash value represented very different financial outcomes.
How much would the winner keep after taxes?
The $433.1 million cash value is not a take-home figure. Lottery winnings are subject to federal income tax, and state tax treatment varies.
Some states, including Florida, Texas and Tennessee, do not impose a state individual income tax on lottery winnings, while other states can take an additional share. The amount a winner ultimately keeps depends on the payout choice and personal tax circumstances.
What are the odds of winning Powerball?
The odds of winning the jackpot are 1 in 292,201,338. The overall odds of winning any Powerball prize are about 1 in 24.87.
Matching the five white balls without the Powerball carries odds of about 1 in 11.69 million and normally pays $1 million outside California’s pari-mutuel system.
A larger jackpot does not improve the odds. Each valid number combination has the same probability regardless of whether the advertised prize is $20 million or $1 billion.
How Powerball works
Players choose five numbers from 1 through 69 and one red Powerball from 1 through 26. A standard ticket costs $2.
Power Play is generally available for an additional $1 and can multiply eligible non-jackpot prizes. It does not multiply the jackpot.
Powerball is sold in 45 U.S. states, the District of Columbia, Puerto Rico and the U.S. Virgin Islands. Drawings are held every Monday, Wednesday and Saturday at 10:59 p.m. ET.
Where does the $1 billion jackpot rank?
Wednesday’s estimated prize ranks as the eighth-largest Powerball jackpot in history.
The record remains the $2.04 billion jackpot won in California in November 2022. Other huge prizes include the $1.817 billion Arkansas jackpot from December 2025 and the $1.586 billion jackpot shared by winners in California, Florida and Tennessee in 2016.
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What happens if nobody wins tonight?
If no ticket matches all six numbers, the jackpot will roll over to Saturday’s drawing. The next estimated prize will depend on ticket sales and the amount available in the jackpot pool.
A potentially winning ticket should be kept secure and checked against official results. Claim rules and deadlines vary by jurisdiction, and winning tickets must be redeemed through the lottery where they were sold.
For a jackpot of this size, legal, tax and financial advice may be important before choosing between the annuity and cash option or making major financial commitments.
What should a winner do?
A potentially winning ticket should be kept secure and checked against the official Powerball results before taking any further action. Winning tickets must be claimed through the lottery in the jurisdiction where they were purchased, and claim deadlines vary by state.
Because a jackpot of this size can have significant financial and tax implications, winners should carefully review their payout options and consider seeking professional legal, tax and financial advice before claiming the prize or making major financial decisions.
Whether someone claims the $1 billion jackpot on Wednesday night or the prize rolls over again, the current run has already become one of the most notable in recent Powerball history. It serves as another reminder that while billion-dollar jackpots attract nationwide attention, every ticket still faces the same odds of 1 in 292,201,338 of matching all six numbers.
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