Powerball jackpot: Single ticket bought in Illinois wins $1 billion - Here’s how much the winner could take home after taxes

A single Powerball ticket sold in the United States matched the winning combination from Wednesday night’s drawing, securing an estimated $1.04 billion jackpot. According to organizers, the prize ranks as the eighth-largest jackpot in Powerball history, as reported by NBC News. The winner can choose between receiving the prize through a 30-year annuity or taking the estimated $450.5 million cash option before taxes. The lump-sum amount would be subject to federal and, depending on where the ticket was purchased, state taxes.

Jackpots of this size have become increasingly common as Powerball has adjusted its game structure to allow larger top prizes. The biggest jackpot in the game’s history reached $2.04 billion in 2022. The next two largest jackpots were $1.817 billion and $1.787 billion, both won in 2025. When a drawing produces no jackpot winner, the top prize carries over to the next drawing and continues to grow. Once a winning ticket is sold, the jackpot resets to a starting amount of $20 million.

Powerball has already delivered several major prizes in 2026. A ticket sold in North Carolina won $209.3 million in January, while an Arkansas ticket claimed $250.8 million in March. In April, a player in Delaware won $231 million. The previous Powerball jackpot winner before Wednesday's drawing had claimed the prize on May 2.


The jackpot is not the only way to win. Players can also collect substantial prizes by matching five white balls without matching the Powerball. Many such tickets have resulted in prizes of $1 million or more. Despite the enormous jackpots, winning the top prize remains extremely difficult. Powerball puts the odds of matching all five white balls and the Powerball at approximately 1 in 292.2 million.

Powerball is currently played across 45 states, along with Washington, DC, Puerto Rico and the US Virgin Islands, giving it one of the broadest reaches among major lottery games in the United States.

Powerball winning numbers for August 12

The winning numbers for August 12 (Wednesday): 04-26-66-67-69 and the Powerball is: 09. The Powerplay was 2X.

When is the next Powerball drawing?

The next drawing will take place August 15, Wednesday. Drawings are held three times per week at approximately 10:59 PM ET every Monday, Wednesday, and Saturday.

What is the Powerball payout?

Match 5 White Balls + Powerball: Jackpot
Match 5 White Balls: $1 million
Match 4 White Balls + Powerball: $50,000
Match 4 White Balls: $100
Match 3 White Balls + Powerball: $100
Match 3 White Balls: $7
Match 2 White Balls + Powerball: $7
Match 1 White Ball + Powerball: $4
Match Powerball: $4
Match 5 White Balls with Power Play: $2 million
Match 4 White Balls + Powerball with Power Play: $200,000
Match 4 White Balls with Power Play: $400
Match 3 White Balls + Powerball with Power Play: $400
Match 3 White Balls with Power Play: $28
Match 2 White Balls + Powerball with Power Play: $28
Match 1 White Ball + Powerball with Power Play: $16
Match Powerball with Power Play: $16

Deadline to buy Powerball tickets

The Powerball ticket purchase deadline varies by state, so one shouldn’t wait until the last minute. In New Jersey, sales close at 9:59PM on the day of the drawing, while in New York, the cutoff is 10PM.

How to play Powerball?

Powerball tickets cost $2 each, with an optional Power Play for an additional $1, which can multiply non-jackpot prizes by up to 5x (except for the jackpot and Match 5), and up to 10x if the jackpot is under $150 million.

Each player chooses five numbers from 1 to 69 for the white balls and one number from 1 to 26 for the red Powerball. A quick pick option is also available by the lottery machine which randomly generates numbers.

Prizes range from $4 for matching only the Powerball to $1 million for matching all five white balls (except in California), and the jackpot for matching all six numbers.

How many states have Powerball?

Powerball is available in 45 states, along with Washington, DC, Puerto Rico, and the US Virgin Islands, making it one of the most widely played lottery games in the United States.

How to buy Powerball tickets?

Powerball tickets can be bought in person at gas stations, convenience stores, grocery stores, and some airport terminals.

Alternatively, tickets can be purchased online through the Jackpocket app in select states: Arizona, Arkansas, Colorado, Idaho, Massachusetts, Minnesota, Montana, Nebraska, New Hampshire, New Jersey, New Mexico, New York, Ohio, Oregon, Texas, Washington DC, and West Virginia.

The Jackpocket app lets players choose their game and numbers, place orders, view tickets, and collect winnings directly from their phone or home computer, providing a convenient digital alternative to in-person purchases.