The Powerball jackpot has reached an estimated $1 billion ahead of Wednesday night’s drawing, the largest U.S. lottery prize so far in 2026 and the eighth-biggest in the game’s history.
According to the Multi-State Lottery Association and official Powerball announcements, the annuity jackpot stands at $1 billion after no ticket matched all six numbers in Monday’s drawing. The cash option is estimated at $433.1 million before taxes. The drawing is scheduled for approximately 10:59 p.m. ET from the Florida Lottery studio.
Tickets cost $2 per play and are sold in 45 states, the District of Columbia, Puerto Rico, the U.S. Virgin Islands and the United Kingdom. Players who match all five white balls plus the red Powerball can choose the annuity paid over 30 years or the lump-sum cash value.
Powerball Estimated Jackpot for 08/12/2026: AP: $1.00 Billion, CVO: $433.1 Million https://t.co/yf10PD4utE
— Texas Lottery (@TexasLottery) August 11, 2026
The odds of winning the jackpot are 1 in 292.2 million, according to official Powerball rules. Those odds are longer than many other rare events.
- The National Weather Service estimates the chance of being struck by lightning in a given year at roughly 1 in 1.2 million and lifetime odds of about 1 in 15,300.
- Unprovoked shark attacks remain extremely rare, with lifetime fatality odds often cited near 1 in several million based on International Shark Attack File data.
- Other long shots frequently compared include dying in a commercial plane crash (roughly 1 in 11 million), being killed by a bee or wasp sting (around 1 in 6.5 million in some analyses), becoming U.S. president (estimated in the tens of millions), and being struck by falling aircraft debris (about 1 in 10 million in historical estimates).
Despite the long odds, the growing jackpot has driven strong ticket sales. The Texas Lottery confirmed the updated $1 billion estimate and cash value on its official channels.
Powerball drawings occur three times a week. Players are reminded to check tickets carefully, as lower-tier prizes are awarded far more frequently.
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