Powerball Lottery Jackpot Soars to $700 Million Amid 40% Ticket Sales Surge

The Powerball jackpot has surged to an estimated $700 million, marking one of the largest prizes in the history of the lottery following another drawing without a grand prize winner. This increase follows a previous high of $643 million, noted as the largest thus far in 2025. Since May 31, no ticket has successfully matched all six numbers needed to claim the jackpot.

Data from the Multi-State Lottery Association indicates a 40% increase in Powerball ticket sales compared to the same time last year. This trend aligns with the general expectation that sales rise as the jackpot grows. Nonetheless, the probability of taking home the grand prize remains unchanged at approximately 1 in 292 million.

In recent drawings, the Powerball numbers on Wednesday, August 20, 2025, were 31, 59, 62, 65, 68, with a red Powerball of 5. The Power Play multiplier was 2X. Although there was no winner for the jackpot, three tickets achieved substantial prizes by matching five numbers. Two tickets purchased in Michigan and Oklahoma won $1 million each, while a ticket in Tennessee won $2 million by utilizing the Power Play option.

Winners of the eventual jackpot will face a choice: opt for a one-time lump-sum payment valued at approximately $316.3 million (before taxes) or receive the full amount through 30 annual payments. Should the lump-sum option be selected, the mandatory federal tax withholding of 24% will further reduce the prize to roughly $240.4 million. Depending on individual incomes, winners might encounter a federal marginal tax rate as high as 37%, significantly impacting the net winnings.

The largest lottery jackpot in U.S. history remains the $2.04 billion prize won in California on November 7, 2022. The current $700 million figure positions it among the notable lottery prizes and comes as anticipation builds for the next drawing slated for 10:59 p.m. ET on Saturday.

Powerball tickets are priced at $2, with an additional $1 for the Power Play option, which multiplies non-jackpot prizes. Tickets can be purchased in 45 states across the U.S., as well as in Washington, D.C., Puerto Rico, and the U.S. Virgin Islands. Ticket sales typically halt one to two hours before the draw depending on the local jurisdiction.

The gameplay involves selecting five white balls numbered from 1 to 69, and one red Powerball from 1 to 26. Players can opt to pick their own numbers or allow the system to select them randomly.

As participants gear up for the upcoming draw, the odds remain stark, but the potential payout continues to captivate many hoping to defy the odds. The series of drawings without a top-prize winner adds to the excitement, making this weekend's event a focal point for lottery enthusiasts nationwide.