economy
Powerball jackpot nears $1 billion mark after no one won $905 million grand prize
Updated on: August 11, 2026 / 1:42 AM EDT / CBS News
TL;DR
- The estimated Powerball jackpot for Wednesday is at least $975 million after no winning tickets were sold for Monday's $905 million prize.
- The cash value option for Wednesday's drawing is estimated at $422.3 million before taxes.
- Jackpots increase as more tickets are sold, with a $1 billion prize being the eighth for Powerball and fifteenth in U.S. lottery history.
- The largest Powerball jackpot was $2.04 billion in November 2022.
- Powerball tickets cost $2 and are sold in 45 states, Washington D.C., Puerto Rico, and the U.S. Virgin Islands, with U.K. sales only counting towards the jackpot.
- The odds of winning the grand prize are 1 in 292,201,338.
- Drawings are held Mondays, Wednesdays, and Saturdays at 10:59 p.m. ET.