With Powerball and Mega Millions jackpots regularly soaring into the billions, the allure of life-changing wealth continues to captivate Americans. The largest lottery jackpots in U.S. history, led by a record-breaking $2.04 billion Powerball prize, have transformed ordinary ticket buyers into instant millionaires. Here’s a look at the top 10 biggest Powerball and Mega Millions jackpots ever won, the stories behind them, and their impact on winners and communities.
Record-Breaking Jackpots
The largest lottery jackpot in U.S. history was a $2.04 billion Powerball prize won on November 7, 2022, by Edwin Castro in Altadena, California. Castro, who opted for the lump sum of $997.6 million, pocketed an estimated $628.5 million after federal and state taxes. “It’s surreal to think one ticket can change your life like that,” said lottery expert Michael Harper, reflecting on the historic win. The ticket was purchased at Joe’s Service Center, which received a $1 million bonus for selling the winning ticket.
The second-largest jackpot, a $1.787 billion Powerball prize, was split between two tickets sold in Missouri and Texas on September 6, 2025. Each winner received a cash value of $410.3 million before taxes. “These massive jackpots show how Powerball and Mega Millions have grown with more states participating and tougher odds,” said Jane Kim, a financial analyst specializing in lotteries.
Top 10 Largest U.S. Lottery Jackpots
Below is a list of the 10 biggest Powerball and Mega Millions jackpots ever won, based on annuity values, along with their cash values and key details:
- $2.04 billion, Powerball, Nov. 7, 2022 (California, 1 ticket, $997.6 million cash). Largest single-ticket jackpot in history, delayed due to technical issues with the drawing.
- $1.787 billion, Powerball, Sept. 6, 2025 (Missouri and Texas, 2 tickets, $820.6 million cash). Split between two winners, marking the second-largest prize ever.
- $1.765 billion, Powerball, Oct. 11, 2023 (California, 1 ticket, $774.1 million cash). Won at a liquor store in a small California mountain town.
- $1.602 billion, Mega Millions, Aug. 8, 2023 (Florida, 1 ticket, $794.2 million cash). Purchased at a supermarket in Neptune Beach.
- $1.586 billion, Powerball, Jan. 13, 2016 (California, Florida, Tennessee, 3 tickets, $983.5 million cash). The first jackpot to exceed $1.5 billion, split among three winners.
- $1.537 billion, Mega Millions, Oct. 23, 2018 (South Carolina, 1 ticket, $877.8 million cash). The largest single-ticket Mega Millions win, claimed after five months.
- $1.348 billion, Mega Millions, Jan. 13, 2023 (Maine, 1 ticket, $723.5 million cash). Won at a gas station in Lebanon, Maine.
- $1.337 billion, Mega Millions, July 29, 2022 (Illinois, 1 ticket, $780.5 million cash). Purchased at a Chicago-area gas station.
- $1.326 billion, Powerball, April 7, 2024 (Oregon, 1 ticket, $621.7 million cash). Won at a convenience store in Portland.
- $1.269 billion, Mega Millions, Dec. 27, 2024 (California, 1 ticket, $632.7 million cash). Claimed at a Northern California gas station.
Why Jackpots Keep Growing
Jackpots have ballooned due to higher ticket prices, more participating states, and reduced odds of winning, which allow prize pools to roll over. “Since cross-selling began in 2010, Powerball and Mega Millions have seen exponential growth,” said Harper. Powerball odds stand at 1 in 292.2 million, while Mega Millions odds are 1 in 302.6 million, making wins rare but massive.
California has emerged as the luckiest state, hosting four of the top 10 jackpots. “It’s no surprise—California’s large population and widespread ticket sales boost its chances,” Kim noted. Other states like Florida, Texas, and New Jersey have also seen multiple wins.
Impact on Winners and Communities
Winning such sums comes with challenges. Many winners, like Castro, opt for lump sums, facing hefty federal taxes (24% withheld, up to 37% owed) and state taxes in most jurisdictions. California, however, does not tax lottery winnings, allowing winners to keep more. Retailers selling winning tickets often receive bonuses, boosting local economies.
On X, users celebrated the wins but cautioned about the pitfalls. “Life-changing money, but you need a plan to manage it,” posted @LuckyStats2025, echoing advice from financial experts who urge winners to seek professional guidance.
Looking Ahead
As Powerball and Mega Millions continue to grow, jackpots are expected to climb higher. “The dream of instant wealth keeps people playing, despite the odds,” said Harper. For now, these historic wins remain a testament to the lottery’s power to transform lives overnight.
Sources: USA Today, Associated Press, Wikipedia
