Posted on: December 23, 2025, 10:11h.
Last updated on: December 23, 2025, 10:16h.
- The estimated Powerball jackpot for Christmas Eve is an incredible $1.7 billion.
- This jackpot has spanned an unprecedented 46 draws without a jackpot winner.
This holiday season, the Powerball jackpot is poised to provide an amazing gift, as it has surged to an estimated $1.7 billion following a Monday night drawing where no ticket matched all six numbers.
The Powerball jackpot has not been won since September 6, when players in Missouri and Texas shared a staggering $1.787 billion prize, marking the second-largest lottery victory in U.S. history. The projected annuitized prize of $1.7 billion for Wednesday is the fourth-largest in the nation’s lottery history.
The Christmas Eve drawing is scheduled for 10:59 PM ET at the Florida Lottery studio in Tallahassee.
“Much like the spirit of the holidays, Powerball unites people in their dreams and aspirations for a brighter future,” remarked Matt Strawn, Chair of the Powerball Product Group and CEO of the Iowa Lottery. “We hope this growing jackpot ignites excitement and joy, fostering goodwill for all.”
The Powerball jackpot has reached its peak on Christmas Eve only once (in 2011), while it has hit four times on Christmas Day (1996, 2002, 2010, and 2013).
Wednesday’s jackpot of $1.7 billion includes an attractive cash option of $781.3 million, before accounting for federal and potential state taxes.
Record US Lottery Jackpots
- $2.04 Billion – Powerball – Nov. 7, 2022 – California
- $1.787 Billion – Powerball – Sept. 6, 2025 – Missouri, Texas
- $1.765 Billion – Powerball – Oct. 11, 2023 – California
- $1.70 Billion est. – Powerball – Dec. 24, 2025
- $1.602 Billion – Mega Millions – Aug. 8, 2023 – Florida
- $1.586 Billion – Powerball – Jan. 13, 2016 – California, Florida, Tennessee
- $1.537 Billion – Mega Millions – Oct. 23, 2018 – South Carolina
- $1.348 Billion – Mega Millions – Jan. 13, 2023 – Maine
- $1.337 Billion – Mega Millions – July 29, 2022 – Illinois
- $1.326 Billion – Powerball – April 6, 2024 – Oregon
Monday’s Winners
In the December 22 drawing, while no ticket managed to secure the Powerball jackpot, nine tickets were close, matching the five white numbers 3, 18, 36, 41, and 54 but missing the red Powerball 7, winning the second-highest prize of $1 million. None of these opted for the $1 Power Play add-on, which would have doubled their winnings to $2 million.
Additionally, 107 tickets with four white balls plus the red Powerball earned $50,000 each. A further 28 tickets did likewise but included the Power Play to boost their winnings to $100,000.
In summary, 4,400,045 tickets received some form of prize, while 3,222,464 only secured $2 by matching the Powerball or the Powerball along with one white ball. The overall odds of winning any prize are 1 in 24.9.
Tax Breakdown
Should a winner emerge from the Christmas Eve draw and select the one-time cash option, the $781.3 million would face a deduction of approximately $289 million due to federal taxes. Lottery winnings are classified as taxable personal income, placing lottery winners in the highest tax bracket of 37%.
This means a net payout of $492.26 million, which might then be subject to state taxes. Nine states do not impose taxes on lottery winnings, including California, Delaware, Florida, New Hampshire, South Dakota, Tennessee, Texas, Washington, and Wyoming. Wins from Puerto Rico also are exempt from local taxes.
The states with the highest lottery tax rates are New York (10.9%), Washington, DC (10.75%), and New Jersey (10.75%).