(Nexstar) – The Powerball jackpot has now rolled over for nearly 40 times. With no winning ticket from Monday’s draw, the prize is set to reach around $815 million, marking it as the seventh-largest in the game’s history.
During that drawing, the numbers were 16, 19, 34, 37, 64, and the Powerball was 22. Despite some hopeful players, nobody won the jackpot. However, tickets from Georgia and Texas managed to match all the five white balls, each earning $1 million instead of the grand prize.
This close call didn’t change the fact that the jackpot soared, with an estimated cash option of $367.9 million.
Currently, this Powerball jackpot holds the title for the biggest of the year, surpassing a $515 million win from a California ticket sold in March. It’s also the largest since April 2024, when tickets in Oregon brought in a whopping $1.326 billion.
If you happen to win the Powerball jackpot from Wednesday’s drawing, it’s worth noting that both the annuity and cash options yield significantly smaller sums after taxes.
The large lottery prize will face a 24% federal tax withholding, with additional taxes reaching around 37% on the winnings.
In certain states, there’s no local lottery tax withholding, allowing for the highest potential payout. According to USA Mega analysis, the maximum payout could be about $514.7 million, or $231.8 million with cash options after 30 annual payments.
On the other hand, winners outside select states are unlikely to see payments over $500 million. Arizona and North Dakota are close, with payouts of about $494.4 million and $491.1 million, respectively. Cash options for these states hover around $222.6 million and $221.2 million.
The New York winner, facing the highest tax rates, would receive just $425.9 million in annuity payments or $191.7 million as a cash option.
In states where taxes are less favorable, the potential winnings still might not be worth the cost of ensuring a jackpot win.
Based on an analysis by USA Mega, an interactive map shows estimated payouts, indicating some states are not participating in Powerball or Mega Millions, highlighted in grey.
It’s important to remember that payouts can shift if there are multiple winners or if the jackpot amount changes before the drawing.
For those who do win, experts advise quickly gathering a team—including lawyers, tax advisors, and financial professionals. They also stress the importance of safeguarding tickets and maintaining discretion about the win.
The next drawing is set for Wednesday at 10:59 PM. Powerball tickets are priced at $2 each and are available across 45 states, as well as in the District of Columbia, Puerto Rico, and the US Virgin Islands.
