The second-largest jackpot in U.S. history will make its grand debut in tonight’s Powerball® drawing. The Powerball jackpot is currently estimated at $1.73 billion. The jackpot has an estimated cash value of $756.6 million.
Final ticket sales will determine whether the Powerball jackpot exceeds its estimate at the time of the drawing tonight. Ticket sale cut-off times vary by jurisdiction, but typically occur 1-2 hours before the scheduled draw time of 10:59 p.m. EST.
“This is a gigantic night for Powerball players and U.S. lotteries,” said Drew Svitko, Powerball Product Group Chair and Pennsylvania Lottery Executive Director. “With every ticket purchased, the jackpot grows larger, and so are the funds being raised for good causes supported by U.S. lotteries. In my home state, Powerball proceeds benefit programs for older Pennsylvanians.
“Before tonight’s drawing, we would like to remind our players to play responsibly, sign your ticket, and call your local lottery if you wake up tomorrow morning with a jackpot-winning ticket!”
Tonight’s Powerball drawing will be held at the Florida Lottery draw studio in Tallahassee at 10:59 p.m. EST. The drawing will be broadcast live by select carrier TV stations across the country. The drawing will also be live streamed on Powerball.com.
If a player wins the jackpot in tonight’s drawing, they will have the choice between an annuitized prize worth an estimated $1.73 billion or a lump sum payment estimated at $756.6 million. Both prize options are before taxes. If the winner selects the annuity option, they will receive one immediate payment followed by 29 annual payments that increase by 5% each year.
The prize ranks as the second-largest Powerball jackpot and U.S. lottery jackpot, only behind the world record $2.04 billion Powerball jackpot won in California on Nov. 7, 2022.
Tonight’s drawing will be the 36th drawing in the jackpot run, and the first time in Powerball history that back-to-back jackpot cycles have generated billion-dollar grand prizes. The Powerball jackpot was previously won in California on July 19, when a ticket matched all five white balls and the red Powerball to win a prize worth $1.08 billion.
Powerball tickets are $2 per play. Tickets are sold in 45 states, the District of Columbia, Puerto Rico and the U.S. Virgin Islands. More than half of all proceeds from the sale of a Powerball ticket remain in the jurisdiction where the ticket was sold. Powerball drawings are broadcast live every Monday, Wednesday and Saturday at 10:59 p.m. EST from the Florida Lottery draw studio in Tallahassee. Powerball drawings are also live streamed on Powerball.com.
The overall odds of winning a prize are 1 in 24.9. The odds of winning the jackpot are 1 in 292.2 million.
Top 10 Powerball Jackpots
- $2.04 Billion – Nov. 7, 2022 – CA
- $1.73 Billion (est.) – Oct. 11, 2023
- $1.586 Billion – Jan. 13, 2016 – CA, FL, TN
- $1.08 Billion – July 19, 2023 – CA
- $768.4 Million – March 27, 2019 – WI
- $758.7 Million – Aug. 23, 2017 – MA
- $754.6 Million – Feb. 6, 2023 - WA
- $731.1 Million – Jan. 20, 2021 – MD
- $699.8 Million – Oct. 4, 2021 – CA
- $687.8 Million – Oct. 27, 2018 – IA, NY