Powerball Jackpot Hits $1 Billion Ahead of Saturday’s Drawing

August 29, 2025 - TALLAHASSEE, Fla.

Powerball officials announced today that the jackpot for Saturday’s drawing has surged to an estimated $1 billion, marking the sixth time in the game’s history that the prize has reached the billion-dollar threshold. The record-breaking figure represents the largest lottery jackpot of the year and the highest Powerball prize since April 2024.

The drawing will take place on Saturday, August 30, at 10:59 p.m. ET, and will be broadcast live from the Florida Lottery draw studio in Tallahassee. Fans nationwide can watch on select television stations or via live stream on the Powerball website.

Drawings are conducted three times weekly-every Monday, Wednesday and Saturday-with ticket sales cutting off one to two hours before the draw, depending on state regulations. Powerball tickets remain priced at $2 per play, with an optional $1 “Power Play” add-on to multiply non-jackpot prizes.

Players opting for the annuity payment would receive one immediate installment followed by 29 annual payments that increase by 5 percent each year. The alternative lump-sum cash option is estimated at $453.1 million before taxes.