Powerball Jackpot Hits $1.6 Billion as Holiday Fever Grips the Nation

The holiday season has reached a fever pitch as the Powerball jackpot climbed to an estimated $1.6 billion for the upcoming Monday night drawing. After no ticket matched all six numbers in Saturday’s draw, the grand prize has officially crossed into the stratospheric territory of the top five largest U.S. lottery prizes ever recorded.

A Record-Breaking Run

This current jackpot run has already made history as the longest in Powerball’s 33-year existence. Monday’s drawing will mark the 46th consecutive draw without a grand prize winner, a feat that has fueled a nationwide ticket-buying frenzy. The winning numbers from Saturday—4, 5, 28, 52, 69, and Powerball 20—left the jackpot unclaimed, though eight lucky players in states including California, Florida, and Michigan still walked away with $1 million prizes for matching all five white balls.

Matt Strawn, Powerball Product Group Chair and Iowa Lottery CEO, noted that the game is “giving players a chance to dream bigger than ever this holiday season.” He emphasized that beyond the life-changing individual prizes, the massive sales are generating significant revenue for public programs and school systems across the 45 participating states.

Choosing the Windfall

If a single winner is crowned on Monday, December 22, 2025, they will face a choice between two life-altering payout options:

• The Annuity: An estimated $1.6 billion paid out over 30 graduated installments over 29 years.
• The Cash Option: A one-time lump sum payment estimated at $735.3 million.

Both figures are before federal and state taxes. This marks only the second time in history that Powerball has seen back-to-back billion-dollar jackpots, following a $1.787 billion win earlier this year in September.

Astronomical Odds

While the prize is gargantuan, the odds remain famously slim at 1 in 292.2 million. Despite this, “lottery fever” has seen lines forming at gas stations and convenience stores from coast to coast. As the jackpot inches closer to the all-time world record of $2.04 billion set in 2022, the question on everyone’s mind is whether Monday will finally be the night someone’s holiday wish comes true.

If You Win The Powerball Jackpot Monday

If you were to win the current $1.6 billion Powerball jackpot (drawing Monday, December 22, 2025), the amount you actually keep depends heavily on the payout option you choose and the state where you live.

Here is the breakdown of the estimated take-home pay for a single winner.

1. The Lump Sum (Cash Option)

Most winners choose the immediate cash payout rather than the 30-year annuity. For this jackpot, the cash value is estimated at $735.3 million.

Gross Payout: $735,300,000

Mandatory Federal Withholding (24%): -$176,472,000

Additional Federal Tax (Remaining 13% to reach top 37% bracket): -$95,589,000

Estimated Take-Home (Federal Only): $463,239,000

Note: The IRS immediately takes 24%, but because a windfall this large puts you in the highest tax bracket (37%), you will owe the remaining 13% when you file your 2025 tax return.

2. The Annuity Option

If you choose the annuity, you receive the full $1.6 billion spread over 30 payments (one immediate, followed by 29 annual payments that increase by 5% each year).

Average Annual Payment: ~$53.3 million

Total Federal Tax over 30 years (37%): ~$592 million

Total Take-Home (Federal Only): ~$1.008 billion

3. State Tax Impact

Your final “check” will vary significantly depending on your state’s tax laws.  

Sources

• Powerball Official Site: Powerball jackpot soars to $1.6 billion for Monday drawing
• Associated Press: Powerball jackpot climbs to $1.6 billion, among the largest lottery prizes ever in the U.S.
• CBS News: Powerball jackpot climbs to estimated $1.6 billion ahead of next drawing
• USA Mega: Powerball and Mega Millions Lottery Results
• Forbes: Tax breakdown of $1.6B jackpot
• Kiplinger: Federal tax brackets and withholding rules for 2025
• Omni Calculator: Lottery Tax & Payout Estimator