Powerball’s 44th Drawing May End Record Drought as $1.25 Billion Jackpot Awaits

Powerball’s long‑awaited drawing on Wednesday could finally end a record drought, as the $1.25 billion jackpot is set to be announced at 10:59 p.m. ET.

Drawing Details

• Wednesday at 10:59 p.m. ET, streamed live on Powerball.com.
• 44th drawing since the last jackpot win on Sept. 6.
• Most drawings in a single jackpot cycle since 1992; previous record was 42.

Jackpot History

• Current jackpot ranks sixth‑largest in Powerball history.
• Seventh jackpot to reach the $1 billion mark and second this year.
• The most recent win in September saw tickets in Missouri and Texas share a $1.787 billion grand prize, the second‑largest in history.

Winning Options & Taxes

• Match all five white balls plus the red Power Ball.
• Option 1: $1.25 billion paid via a 30‑year annuity.
• Option 2: Lump‑sum estimated $572.1 million.
• Both options are subject to federal taxes and, in most jurisdictions, state taxes.

Powerball Basics

• Played in 45 states, Washington, D.C., Puerto Rico and the U.S. Virgin Islands.
• Three drawings per week—Mondays, Wednesdays and Saturdays.
• Ticket cost $2; adding the Power Play option for $1 multiplies winnings by 2, 3, 4, 5 or 10.
• The largest jackpot ever awarded was $2.04 billion in 2022 when a California ticket won.

Expert Insight

• Attorney Andrew Stoltmann, who has represented 12 lottery winners, said: “Unfortunately, the people who win the lottery think at that point, the journey is over. And what they don’t realize is that the journey has really just begun,”.

Key Takeaways

• 44th drawing since the last win, the most in a cycle since 1992.
• $1.25 billion jackpot, sixth‑largest, with two payout options.
• Winning prize subject to federal and state taxes; Power Play available.

The upcoming drawing offers a chance to break a historic drought, but winners must weigh the long‑term annuity against a lump‑sum payout and the tax implications that come with such a windfall.