In what would definitely be the largest back-to-school bonus of the 2025-2026 academic year, the next Powerball drawing is slated for Saturday, August 16, with an amount of $565 million. The estimated cash value is $258.8 million, according to the Texas Lottery Commission.

The Powerball jackpot was last won May 31, when a California player hit the $204.5 million grand prize. The odds of scoring the jackpot prize are 1 in 292,201,338. Drawings are broadcast Saturdays, Mondays and Wednesdays at 10:59 p.m. ET and can be streamed online.

More than 840,000 other Powerball tickets sold in the United States also won prizes ranging from $4 to $1 million, the lottery said.