See the current estimated annuity jackpot, cash option, next drawing date, latest winning numbers, and links to payout and tax tools.
The current estimated Powerball annuity jackpot is $856 Million. The estimated one-time cash option is $372 Million.
The annuity amount is the advertised jackpot paid as one immediate payment followed by 29 annual payments. The cash option is the estimated amount available as a single payment before federal and any applicable state taxes.
Drawing date: Wednesday, August 5, 2026 Power Play: 2x
Powerball drawings are normally held every Monday, Wednesday, and Saturday.
The next scheduled drawing is:
Saturday, August 8, 2026
Ticket-sale cutoff times vary by jurisdiction. Check the rules where you buy your ticket.
The estimates below use the current cash option of $372,000,000. They are simplified federal illustrations and do not include state or local taxes.
| Calculation | Estimated Amount |
|---|---|
| Current cash option before taxes | $372,000,000 |
| 24% initial federal withholding | $89,280,000 |
| Estimated total federal tax at 37% | $137,640,000 |
| Possible additional federal amount beyond withholding | $48,360,000 |
| Estimated amount after 37% federal tax | $234,360,000 |
The advertised Powerball jackpot is an annuity amount. The annuity is paid as one immediate payment followed by 29 annual payments that increase over time. The cash option is a smaller one-time amount paid before taxes.
There is no single choice that is best for every winner. A major winner should speak with qualified legal, tax, and financial professionals before claiming.
What to Do After You WinThe current estimated annuity jackpot is $856 Million.
The current estimated one-time cash option is $372 Million before taxes.
The next scheduled drawing is Saturday, August 8, 2026. Powerball drawings are normally held Monday, Wednesday, and Saturday.
No. The advertised jackpot is the estimated annuity value. The cash option is the estimated one-time payment before taxes.
Not necessarily. Large lottery prizes generally have federal withholding, but the final federal tax bill can be higher. State and local taxes may also apply.