Topline<\/p>\n
The Powerball lottery jackpot climbed to $750 million\u2014the tenth-largest prize in the lottery\u2019s history\u2014after no winning tickets were sold in the latest drawing, but an eventual winner would take home substantially less after taxes.<\/p>\n
The $750 million jackpot is one of the largest in the lottery\u2019s history.<\/p>\n
Los Angeles Times via Getty ImagesKey Facts<\/p>\n
No tickets were sold matching Saturday night\u2019s winning numbers (11, 14, 34, 47, 51 and Powerball number 18), so the jackpot grew once again before the next drawing Monday night.<\/p>\n
If a single ticket is sold matching each number drawn Monday, the winner could receive a jackpot of $750 million paid out in 30 annualized payments, or elect to take the lump sum of $338.6 million immediately\u2014the much more popular option.<\/p>\n
If the winner takes the lump sum, federal withholding taxes of 24% would immediately bring their winnings down to $257.3 million.<\/p>\n
Winners would also likely face the highest federal marginal tax rate at 37%, bringing the cash sum down to $213.3 million.<\/p>\n
If the winner picks the annuity, that $750 million jackpot is paid out over 30 payments for an average of $25 million, but federal taxes would reduce these to just $15.7 million.<\/p>\n
They also might have to pay state taxes on their winnings, which range from a high of 10.9% in New York to 0% in California and Texas.<\/p>\n
What To Watch For<\/p>\n
The next drawing is scheduled for Monday night at 10:59 p.m. EDT, and can be streamed on the Powerball website. If a winner isn\u2019t selected Monday night, the jackpot will grow again before the upcoming Wednesday drawing.<\/p>\n
Surprising Fact<\/p>\n
Although no winner was selected Saturday night, three people matched the numbers on all five white balls. A winner in New York and a winner in Maine will take home a $1 million prize, while a third winner in South Dakota will take home $2 million since they bought a ticket with the Power Play option for $1 more than a standard ticket. The odds of matching the five white balls, without the Powerball, are about 1 in 11.7 million, according to the lottery organizers.<\/p>\n
Big Number<\/p>\n
$2.04 billion. That\u2019s the largest jackpot in Powerball history, which was claimed by a lucky winner in California<\/a> in 2022. The jackpot has climbed above $1 billion multiple times over the course of the lottery\u2019s history, most recently in 2024 when an Oregon cancer patient<\/a> won a massive $1.3 billion jackpot.<\/p>\n","protected":false},"excerpt":{"rendered":"Topline The Powerball lottery jackpot climbed to $750 million\u2014the tenth-largest prize in the lottery\u2019s history\u2014after no winning tickets…\n","protected":false},"author":3,"featured_media":172095,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[6],"tags":[64,6411,55355,618,67,132,68],"class_list":{"0":"post-172094","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-business","8":"tag-business","9":"tag-lottery","10":"tag-powerball","11":"tag-taxes","12":"tag-united-states","13":"tag-unitedstates","14":"tag-us"},"share_on_mastodon":{"url":"https:\/\/pubeurope.com\/@us\/115084634985666257","error":""},"_links":{"self":[{"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/posts\/172094","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/comments?post=172094"}],"version-history":[{"count":0,"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/posts\/172094\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/media\/172095"}],"wp:attachment":[{"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/media?parent=172094"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/categories?post=172094"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/tags?post=172094"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}