Powerball jackpot surges to $1.6 billion, becoming one of the largest ever

Economy

Powerball jackpot surges to $1.6 billion, becoming one of the largest ever

2 hours ago

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ABCNEWS

REUTERS

Powerball jackpot surges to $1.6 billion, becoming one of the largest ever

Credited from: REUTERS

The Powerball jackpot has reached $1.6 billion, the fourth largest in its history.
The estimated cash value for the jackpot is approximately $735.3 million before taxes.
Players have the option for an immediate payout or an annuity over 29 years.
The odds of winning actually remain very low at 1 in 292.2 million.
Sales for tickets are expected to rise due to the large jackpot, boosting state revenues.

The Powerball jackpot has climbed to an estimated $1.6 billion, making it the fourth-largest in Powerball history and the fifth-largest among U.S. lottery jackpots. The increase follows a drawing on Saturday that yielded no winning tickets, propelling the prize to this significant amount ahead of the next drawing scheduled for 10:59 p.m. ET on Monday, December 22, 2025, according to LA Times, ABC News, and Reuters.

The estimated cash value for the jackpot stands at approximately $735.3 million, prior to taxes. Winners can choose between this lump-sum payment or opt for an annuity that distributes the total over 29 years with increasing payments. The odds of winning such a grand prize remain notably low, pegged at 1 in 292.2 million, highlighting the highly competitive nature of the game, according to ABC News, Reuters, and LA Times.

$2.04 billion won in California in November 2022. This current drawing has already resulted in multiple secondary prizes, including a $1 million payout, and large jackpots typically stimulate ticket sales, enhancing revenue for state lottery funds that benefit public services, as noted by Reuters and ABC News.