Powerball Jackpot Hits $700 Million Ahead of August 23 Draw
The Powerball jackpot has surged to $700 million after no winner in the August 20 draw. The next chance to win this huge prize is on August 23, 2025. Winners can choose a 30-year annuity or a lump sum payout of about $316 million before taxes. After taxes, the lump sum may drop to around $240 million. The jackpot continues climbing but is still below the record $1.59 billion. With ticket prices expected to rise, future jackpots could grow even larger.