After no winner emerged from Monday night's drawing, the Powerball jackpot has climbed to an estimated $1.25 billion for Wednesday, December 17, 2025, just eight days before Christmas.
The massive prize follows Monday's drawing, where no tickets matched all six winning numbers: 23, 35, 59, 63, 68, and Powerball 2.
However, several players walked away with substantial secondary prizes, including Match 5 plus Power Play winners in North Carolina and Pennsylvania who each won $2 million, and Match 5 winners in California, Florida, Michigan, New Jersey, and Virginia who each claimed $1 million.
Powerball Enters Historic Jackpot Territory
This marks the sixth-largest jackpot in Powerball history and the second-biggest grand prize of 2025. The only larger prize this year was the $1.787 billion jackpot won on September 6 in Missouri and Texas. Notably, this is only the second time Powerball has seen back-to-back billion-dollar jackpots.
Wednesday's drawing will be the 44th consecutive drawing since the last jackpot winner, which is the longest such streak in Powerball history. The last grand prize was claimed over three months ago during that September 6 drawing.
Lump Sum of Cash or Annuity? The Powerball Winner Dilemma
Winners of Wednesday's drawing will face the classic lottery dilemma: take the full amount or cash out early. The advertised $1.25 billion represents the annuity option, paid out over 30 annual installments that increase each year. However, winners can opt for an immediate lump-sum payment of $572.1 million, though both figures are before taxes.
State and federal taxes will significantly reduce the actual payout. The federal government immediately withholds 24%, with additional federal taxes bringing the top marginal rate to 37% on such a large windfall. State lottery taxes vary widely, with some states charging no lottery tax while others, like New York, take a substantial cut.
But most importantly, be sure to check your tickets after the numbers are called. You wouldn't want to miss a $1 billion payday because you forgot your ticket in your car or wallet. Although unclaimed tickets can often go to a good cause.
What are the Odds of Winning the Powerball Jackpot?
The chances of winning the Powerball jackpot remain as daunting as ever. The odds of matching all six numbers stand at 1 in 292.2 million. Hitting the jackpot twice in five months? Those odds aren't even worth calculating.
Despite these astronomical odds, millions of Americans will surely try their luck as the jackpot continues to grow. Or, on the other hand, some lottery players may try some unconventional methods to hit the jackpot, such as using a fortune cookie.
The Powerball drawing takes place at 10:59 p.m. ET on Wednesday, December 17, 2025. Tickets cost $2 each, with an additional $1 for the Power Play option that can multiply non-jackpot prizes. Powerball is played in 45 states, the District of Columbia, Puerto Rico, and the U.S. Virgin Islands.
Ticket sales typically surge as jackpots grow, with convenience stores and lottery retailers seeing long lines in the hours leading up to the deadline. In most states, ticket sales close between 9:00 and 10:00 p.m. on drawing nights. So if you're looking to casually spend $20 on winning tickets, you'd better get yours early.
But remember, if you do decide to play, always exhibit responsible gambling habits.
Recent Lottery Jackpot Trends
Lottery jackpots have exploded in size over the last decade. When Powerball launched in 1992, its first jackpot was just $5.9 million. The record remains the $2.04 billion prize won in California on November 7, 2022.
There have been 13 lottery jackpots exceeding $1 billion in U.S. history, with 10 occurring since 2021. The growth in jackpot sizes reflects changes to game rules that lowered the odds of winning while increasing the potential prize pool.
As Christmas approaches, Wednesday's drawing offers Americans one last chance at a massive windfall before the holidays, though the odds suggest most will be filling stockings with something other than a billion-dollar check.
