The Powerball jackpot reached an estimated $687 million for the Monday, Oct. 26, 2026 drawing, featuring a cash option valued at $294.7 million, according to Powerball.com. The grand prize marks the second-largest Powerball jackpot offered in 2026 following 31 consecutive drawings without a jackpot winner.
What are the cash and annuity options for the $687 million jackpot?
A jackpot winner in the Oct. 26 drawing can select between an estimated annuity total of $687 million or a lump-sum cash payment of $294.7 million before federal and state taxes. The annuity option consists of 30 graduated payments distributed over 29 years, where each annual payout increases by 5% to account for inflation. Readers examining payment structures can learn more about how 30-year annuity payments work across different tax jurisdictions.
Both prize payout structures remain subject to mandatory federal withholding taxes of 24%, with top marginal federal income tax rates reaching up to 37%. Additional state income taxes may apply depending on w winning ticket is purchased.
Powerball jackpot progression and 2026 winners
The current jackpot streak began after Aug. 12, 2026, when a single ticket in Illinois matched all six numbers to win $1.04 billion. The Oct. 26 draw represents the 32nd drawing in the current accumulation cycle. Powerball records confirm six jackpot wins earlier in 2026:
- Jan. 21, 2026: $209.3 million – North Carolina
- March 2, 2026: $250.8 million – Arkansas
- April 6, 2026: $230.8 million – Delaware
- April 29, 2026: $143 million – Shared between Indiana and Kansas
- May 2, 2026: $20 million – Shared between Florida and Texas
- Aug. 12, 2026: $1.04 billion – Illinois
While the main jackpot remained unclaimed during the previous draw on Saturday, Oct. 24, a ticket sold in Arizona matched all five white balls in the Double Play secondary drawing to win $500,000.
Powerball prize tiers and game odds
Powerball tickets cost $2 per play. To win the jackpot, players must match five white balls drawn from a pool of 69 plus one red Powerball drawn from a pool of 26. According to Powerball.com, the overall odds of winning any prize tier are 1 in 24.9, while the odds of matching all six numbers for the jackpot are 1 in 292.2 million. Detailed information on rules and matrix mechanics is outlined in our guide on how Powerball works.
| Match Category | Base Prize | Winning Odds |
|---|---|---|
| 5 White + Red Powerball | Jackpot ($687 Million) | 1 in 292,201,338 |
| 5 White Balls | $1,000,000 | 1 in 11,688,053 |
| 4 White + Red Powerball | $50,000 | 1 in 913,129 |
| 4 White Balls | $100 | 1 in 36,525 |
| 3 White + Red Powerball | $100 | 1 in 14,494 |
| 3 White Balls | $7 | 1 in 580 |
| 2 White + Red Powerball | $7 | 1 in 701 |
| 1 White + Red Powerball | $4 | 1 in 92 |
| Red Powerball Only | $4 | 1 in 38 |
Players can add the Double Play feature for an extra $1 per play. Double Play uses the same numbers selected for the main entry in a secondary drawing held immediately after the primary Powerball draw, offering a top cash prize of $10 million. Double Play drawings stream live on Powerball.com.
How to check numbers and participate online
Powerball tickets are sold across 45 U.S. states, Washington D.C., Puerto Rico, the U.S. Virgin Islands, and through authorized online channels. Official statistics show that more than 50% of proceeds from ticket sales remain in the selling jurisdiction to support state programs, including education, public infrastructure, and services for military veterans. Powerball reports having generated over $38 billion for public initiatives since its establishment in 1992.
Drawings occur live every Monday, Wednesday, and Saturday at 10:59 p.m. ET from the state lottery studio in Tallahassee, Florida. Ticket buyers can verify past draw records directly through all Powerball results.
Players outside physical state retail zones can access tickets digitally. To participate through verified online vendors, review how to play lottery online safely or order entries through authorized online lottery messenger services. Non-U.S. residents must review federal withholding tax rules and cross-border purchase conditions, documented in our guide covering how international players enter Powerball.
Frequently asked questions
What time is the Powerball drawing on Monday night?
Powerball drawings take place every Monday, Wednesday, and Saturday night at 10:59 p.m. Eastern Time in Tallahassee, Florida. Ticket sales cut off 1 to 2 hours prior to the draw depending on state jurisdiction rules.
What is the lump-sum cash value of the $687 million Powerball jackpot?
The cash option for the Oct. 26, 2026 drawing is an estimated $294.7 million before federal and state taxes are applied.
What are the overall odds of winning a Powerball prize?
The odds of winning any prize in Powerball are 1 in 24.9. The odds of matching all six numbers to win the jackpot are 1 in 292,201,338.
Play responsibly. Lottery games are a form of entertainment, not a guaranteed source of income. If gambling is affecting your wellbeing, contact the National Problem Gambling Helpline (US: 1-800-522-4700) or your local support organization.
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