Powerball Jackpot Soars to Yearly High of $856 Million

WHO:

CBS News - Stephen Durrell, Powerball Product Group chair and Kansas Lottery executive director, provided a statement regarding player participation.

WHAT:

CBS News - The Powerball jackpot has reached $856 million, the largest total of the year.

CBS News - The lump sum payout for the jackpot is $370.7 million, before taxes.

CBS News - This jackpot is the eighth-largest Powerball jackpot of all time.

CBS News - The odds of winning the top prize are 1 in 292.2 million.

WGAL - The jackpot increased by $70 million from the previous drawing.

WGAL - The last jackpot was won on May 2, with two tickets winning in Florida and Texas.

WGAL - There have been 41 consecutive drawings since the current jackpot began on May 4.

WGAL - Seven jackpot winners have been recorded this year.

WHERE:

CBS News - Powerball tickets are sold in 45 states, Washington, D.C., Puerto Rico, and the U.S. Virgin Islands, as well as the United Kingdom.

WHEN:

CBS News - The drawing for the jackpot will take place on Saturday at 10:59 p.m. ET.

CBS News - Powerball tickets began being sold in the U.K. on July 21.

WHY:

CBS News - The addition of players from the U.K. is expected to help the jackpots grow faster if no one wins.

HOW:

CBS News - Players can choose between a lump sum payment or 30 payments over 29 years if they win.

(UPDATED August 8, 2026 14:31 UTC)

The Powerball jackpot has soared to an impressive $856 million, marking it as the largest total of the year and the eighth-largest in the game's history. Players have the option to take a lump sum payout of $370.7 million before taxes, with the next drawing set for Saturday at 10:59 p.m. ET, and the odds of winning the top prize stand at one in 292.2 million.