Labor Day Powerball drawing: Numbers drawn for $1.1 billion lottery drawing

The jackpot for Monday's Labor Day Powerball drawing stands at $1.1 billion with a cash option of nearly $500 million before taxes.Why it matters: This is the fifth-largest Powerball prize ever, underscoring how rare it is for jackpots to soar this high — and how long streaks without a winner can supercharge them.State of play: Monday's Powerball drawing is the 40th drawing since the jackpot was last won in California on May 31.The longest Powerball jackpot run was 42 consecutive drawings, which was set on April 6, 2024, with a $1.326 billion jackpot winner in Oregon.Winning Powerball numbers for Sept. 1The winning numbers in Monday's drawing were 8, 23, 25, 40 and 53 with a red Powerball of 5.Did anyone win the Labor Day Powerball?The latest: Whether someone won the jackpot was not immediately known late Monday and expected to be announced early Tuesday.How to watch Powerball live, what time is drawingThe big picture: Powerball drawings are held three times each week — on Mondays, Wednesdays and Saturdays.The next drawing is at 10:59pm ET Monday and Powerball says drawings are broadcast from the Florida Lottery draw studio in Tallahassee and also live streamed on its website.Of note: Axios has found the live drawings aren't always immediately available on the Powerball website so be prepared to watch the drawing a few minutes later on Powerball's YouTube channel.When do Powerball ticket sales end?The deadline to purchase tickets for Monday's drawing varies by state because Powerball tickets are sold by individual lotteries.The cut-off times are typically one to two hours before the drawing, according to Powerball.Powerball oddsThe odds of winning the Powerball jackpot are 1 in 292.2 million.The overall odds of winning a prize are 1 in 24.9.Yes, but: The odds of being struck by lightning in a year are less than one in a million, according to data from the Centers for Disease Control and Prevention.Powerball prize amounts for matching numbersBy the numbers: Here are the prize amounts for matching numbers with and without the Powerball for all drawings:Powerball: $4One number and Powerball: $4Two numbers and Powerball: $7Three numbers: $7Three numbers plus Powerball: $100Four numbers: $100Four numbers plus Powerball: $50,000Five numbers: $1 millionFive numbers plus Powerball: JackpotPrize amounts are higher for players spending $1 extra for Power Play.Powerball jackpot annuity option versus cashHow it works: Powerball jackpot winners can choose an "annuity option" or a lump sum cash payout.The annuity option is an annual payout over 30 years, with the sum paid out rising by 5% each year.The jackpot size is not the amount in the prize pool but rather the size of all those 30 payments added together.Editor's note: This story was updated with the Powerball numbers from Monday's drawing.More from Axios:Pumpkin drinks spark record Starbucks salesLabor Day sales arrive as retail approaches pre-tariff cliffPokémon, trading cards have leveled up to retail gold

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