AUSTIN — As summer heats up in Texas, the Powerball® Grand Prize has soared to an estimated annuitized $1 billion for the Wednesday, Aug. 12 drawing – the eighth largest jackpot in the game’s history – with an estimated cash value of $433.1 million. If there is no jackpot winner in Wednesday’s drawing, the Grand Prize for the Saturday, Aug. 15 drawing will increase to an estimated annuitized $1.12 billion.
Wednesday’s Powerball drawing marks the 44th in its current jackpot run since starting at an estimated annuitized $20 million for the May 4 drawing. Tonight’s prize – the game’s largest of 2026 so far – is drawing attention in Texas and beyond, while driving ticket sales across the state.
“The latest Powerball jackpot run has been building momentum all summer long. With two Powerball jackpots won by Texas Lottery® players in the past year, this one is creating a lot of excitement for our players,” said Courtney Arbour, executive director of the Texas Department of Licensing and Regulation, which oversees the Texas Lottery. “As enthusiasm grows, so do ticket sales, which leads to more funds for public education in Texas. Remember, you only need one ticket to win.”
Since joining Powerball in 2010, Texas has had four jackpot winners, including two within the last year. In September 2025, the Seven Bridges Revocable Trust, of Fredericksburg claimed a share of the estimated $1.8 billion Grand Prize – the second-largest jackpot in U.S. lottery history – for the Sept. 6, 2025 drawing. Most recently, a Leander resident shared with an out-of-state winner the estimated annuitized $20 million Grand Prize that was advertised for the May 2 drawing.
Powerball Grand Prizes currently start at $20 million and roll until the jackpot is won. Players win the Grand Prize by matching five numbers from a field of 69 numbers and one Powerball number from a field of 26 numbers. By choosing Power Play® for $1 more per Play, players can multiply their non-Grand Prize winnings by two, three, four, five or 10 times*. A Power Play Match Five (5+0) prize is set at $2,000,000 regardless of the Power Play number selected. All other non-Grand Prizes will be multiplied by the Power Play number selected. (*The 10X Power Play multiplier is available for drawings in which the initially advertised annuitized Grand Prize amount is $150 million or less.)
Texas Lottery players may select how to be paid if they win the jackpot prize – annual payments (annuity) or cash value (lump sum) – only at the time of purchase. The annuitized Grand Prize is paid in 30 graduated payments over 29 years, with each payment after the initial payment increasing by five percent. The Texas Lottery advises players to seek financial guidance when weighing their options.
For players that may hold the jackpot-winning ticket after a drawing, the Texas Lottery recommends they sign the ticket, put it in a safe place, seek legal and financial advice, and then contact the Texas Lottery to schedule an appointment to claim the prize.
Drawings are broadcast each Monday, Wednesday and Saturday at 10:12 p.m. CT. Texas Lottery players can purchase Powerball tickets at more than 19,000 Texas Lottery retailers across the state. Ticket sales for the next Powerball drawing will close at 9 p.m. CT on Wednesday, Aug. 12. Retailers that sell a jackpot-winning Powerball ticket may be eligible for a $250,000 bonus under the Texas Lottery’s Retailer Bonus Program.
