The previous record was set in January 2016 when the jackpot reached a massive $1.586 million. The jackpot was won by Edwin Castro from California - this is the largest jackpot ever won by a single ticket worldwide. The jackpot has regularly climbed past $500 million, and in November 2022 it reached $2.04 billion after 40 consecutive rollovers. However, these amounts could change if necessary based on the ticket sales required to support the jackpot. Since the changes came into effect, the starting jackpot has been $20 million and rollover increases have been at least $2 million.

Previously, the starting jackpot was $40 million and there was a minimum rollover of $10 million. Powerball officials eliminated a guaranteed level for the lowest jackpot during the coronavirus pandemic due to falling ticket sales as players stayed at home. Visit the Jackpot Analysis to see a breakdown of the current annuity and lump sum payouts and how federal and state taxes affect them. The estimated jackpot includes an annuity figure and the cash alternative if you would prefer to take it as a lump sum. If there are multiple winners, it is split between them. If you win the jackpot, the amount is the same no matter where you live or bought your ticket. The jackpot value is the same across all 48 jurisdictions where Powerball is played. The jackpot increases by $2 million per draw as a minimum, although it's typically a lot more in practice.

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