How Much is the Current Powerball Jackpot Worth?


The value of the current Powerball jackpot amount for the next drawing is shown below. The grand prize is always worth at least $20 million and to win it you need to match all six numbers – the five main white balls plus the red Powerball.

The Powerball jackpot starts at $20 million and keeps increasing with each draw until it's won. There is no limit to how much Powerball can get up to, so the jackpot can even grow past $1 billion.

The estimated jackpot shows how much Powerball is worth, based on the money that is already in the pot plus how many tickets are expected to be sold for the next drawing.

Current Powerball Jackpot Value

$700 Million
Cash Value$375.7 Million

The minimum amount it increases is $2 million per draw, although typically it's a lot more. The jackpot value is the same across all 48 jurisdictions where Powerball is played. If you win the jackpot, the amount is the same no matter where you live or bought your ticket. If there are multiple winners, it is split between them.

The estimated jackpot includes an annuity figure and the cash alternative if you would prefer to take it as a lump sum. Visit the Jackpot Analysis to see a breakdown of the current annuity and lump sum payouts and how federal and state taxes affect them.

Lowest and Highest Powerball Jackpot

During the coronavirus pandemic, Powerball officials eliminated a guaranteed level for the lowest jackpot due to falling ticket sales as players stayed at home. The minimum increase from draw to draw was also scrapped.

Previously, the starting jackpot was $40 million and there was a minimum rollover of $10 million. Since the changes came into effect, the starting jackpot has been $20 million and rollover increases have been at least $2 million. However, these amounts could change if necessary based on the ticket sales required to support the jackpot.

The jackpot has regularly climbed past $500 million, and in November 2022 it reached $2.04 billion after 40 consecutive rollovers. The jackpot was won by a player in California - this is the largest jackpot ever won by a single ticket worldwide. The previous record was set in January 2016 when the jackpot reached a massive $1.586 million. Three ticket holders – John and Lisa Robinson from Tennessee, the Nickel 95 Trust from Florida, and Marvin and Mae Acosta from California – split the money.

Find out the Current Mega Millions Jackpot if you want to know how much is up for grabs in the other big multi-state lottery.

Saturday February 4th 2023
$700 Million
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