Powerball Jackpot for Christmas Eve Drawing Climbs to $1.7 Billion

After no ticket matched all six numbers on Monday night, the Powerball jackpot increased to $1.7 billion, making it the ultimate Christmas present.

Since September 6, when tickets sold in Missouri and Texas split a $1.787 billion prize—the second-largest lottery victory in US history—the Powerball jackpot has not been won. On Wednesday night, the estimated annuitized prize of $1.7 billion is the fourth-largest lottery prize up for grabs in US history.

The Florida Lottery draw studio in Tallahassee will hold the Christmas Eve drawing on Wednesday at 10:59 p.m. ET.

"Much like the holidays, Powerball is a game that brings people together to dream big and hope for a brighter future,” said Matt Strawn, Powerball Product Group Chair and Iowa Lottery CEO. “We hope this growing jackpot inspires excitement and joy, and, most importantly, goodwill to all.”

Only once on Christmas Eve (2011) and four times on Christmas Day (1996, 2002, 2010, and 2013) has the Powerball jackpot been won.

The $1.7 billion jackpot on Wednesday has a $781.3 million one-time cash option. Both are prior to state and perhaps federal taxes.

Record US Lottery Jackpots

• $2.04 Billion – Powerball – Nov. 7, 2022 – Calif.
• $1.787 Billion – Powerball – Sept. 6, 2025 – Mo., Texas
• $1.765 Billion – Powerball – Oct. 11, 2023 – Calif.
• $1.70 Billion est. – Powerball – Dec. 24, 2025
• $1.602 Billion – Mega Millions – Aug. 8, 2023 – Fla.
• $1.586 Billion – Powerball – Jan. 13, 2016 – Calif., Fla., Tenn.
• $1.537 Billion – Mega Millions – Oct. 23, 2018 – SC
• $1.348 Billion – Mega Millions – Jan. 13, 2023 – Maine
• $1.337 Billion – Mega Millions – July 29, 2022 – Ill.
• $1.326 Billion – Powerball – April 6, 2024 – Ore.

 

Winners of Monday 

Nine plays came dangerously close to winning the Powerball jackpot on the December 22 drawing, but no ticket beat the odds of one in more than 292.2 million. These tickets won Powerball's second-best reward of $1 million by matching the five white numbers—3, 18, 36, 41, and 54—but missing the red Powerball 7. Power Play, an optional $1 add-on that would have increased the prize to $2 million, was not chosen by any of the tickets.

To win $50,000 each, 107 tickets had to match four of the white balls and the red Powerball. Another 28 did the same, but they were able to double their winnings to $100,000 thanks to the Power Play.

3,222,464 tickets won just $2 by matching the Powerball or the Powerball and one white ball, out of the 4,400,045 tickets that won any kind of reward. Overall, there is a one in 24.9 chance of winning the game at all prize levels.

 

Tax Dissection 

The $781.3 million would be instantly reduced by about $289 million in federal taxes if the Powerball struck on Christmas Eve and the lone winner chose the one-time cash prize. The lottery winner would have to pay Uncle Sam 37%, the rate for filers in the highest tax bracket, since the US government views lottery winnings as taxable personal income.

State taxes would then apply to the $492.26 million net payout. Lottery winnings are not taxed in nine states. California, Delaware, Florida, New Hampshire, South Dakota, Tennessee, Texas, Washington, and Wyoming are these states. Additionally, municipal taxes would not apply to a Powerball jackpot victory in Puerto Rico.

New Jersey (10.75%), Washington, DC (10.75%), and New York (10.9%) have the highest lottery taxes.