What are the biggest Powerball jackpots ever?
Powerball jackpots have been reaching stratospheric levels, with four of the ten largest Powerball prizes being distributed last year.
The Powerball lottery is once again above the billion-dollar mark, the fifth time since 2016 after the rules were tweaked. Those changes made winning smaller prizes easier but netting the biggest prize harder, with the odds being 1 in 292.2 million. Adding another weekly draw has led to jackpots soaring to astronomical heights.
A single ticketholder in California claimed the biggest jackpot ever in November 2022. Edwin Castro claimed the $2.04 billion jackpot three months later on Valentine’s Day. Since he took the lump-sum payment, it was less than half the amount but still a mind-blowing $997.6 million.
That sum would have been reduced further after Uncle Sam took his cut, but as he won the prize in California, no additional taxes were levied against his winnings.
What are the biggest Powerball jackpots ever?
There have been four Powerball jackpots to climb above one billion dollars, one of which was claimed in 2024 on New Year’s Day. Six of the top ten jackpots have been in the last two years. Only two of those so far have been claimed by more than one winner. When there are multiple winning tickets, the jackpot is split evenly among each one. Here’s a look at the ten biggest Powerball jackpots:
- $2.04 Billion – Nov. 7, 2022 – CA
- $1.765 Billion – Oct. 11, 2023 - CA
- $1.586 Billion – Jan. 13, 2016 – CA, FL, TN
- $1.09 Billion est. – April 3, 2024
- $1.08 Billion – July 19, 2023 – CA
- $842.4 Million – January 1, 2024 – MI
- $768.4 Million – March 27, 2019 – WI
- $758.7 Million – Aug. 23, 2017 – MA
- $754.6 Million – Feb. 6, 2023 - WA
- $731.1 Million – Jan. 20, 2021 – MD
Largest lottery jackpots in US history
Not to be outdone, Mega Millions changed its rules a couple of years after Powerball. They had a similar effect of swelling the jackpots on offer. Currently, the two lotteries are tied for the top ten largest jackpots in US history.
- $2.04 billion: Powerball - 7 Nov. 2022 – CA
- $1.586 billion: Powerball – 13 Jan. 2016 – CA, FL, TN
- $1.58 billion: Mega Millions – 8 Aug. 2023 – FL
- $1.537 billion: Mega Millions – 23 Oct. 2018 - SC
- $1.4 billion (est.): Powerball – 7 Oct. 2023
- $1.35 billion: Mega Millions – 13 Jan. 2023 - ME
- $1.337 billion: Mega Millions – 29 Jul. 2022 - IL
- $1.08 billion: Powerball – 19 Jul. 2023 – CA
- $1.05 billion: Mega Millions – 22 Jan. 2021 - MI
- $768.4 million: Powerball – 27 Mar. 2019 – WI
All but one of the biggest jackpots in US history have amassed a ten-digit theoretical payout. However, most players chose to take the lump-sum payment instead of the annuity option, which cuts the actual amount by more than half.
Lottery windfalls are further reduced by an instant cut going to the tax man, followed by income taxes later on from the federal government. Also, of the 45 states where multi-state lotteries can be played, only eight of them don’t collect state lottery taxes.