After no ticket matched all six numbers in Wednesday night's drawing, the Powerball jackpot soared to a staggering $700 million.
According to the game's website, the cash option's estimated worth is $375,7 million. On Wednesday, the numbers 31, 43, 58, 59, and 66 were drawn. The red Powerball was a nine and the Power Play was two times.
Powerball Jackpot Prize
Saturday at 10:59 p.m. ET is when the next drawing will occur. Since last November, no one has won the Powerball jackpot. Seven Powerball jackpots were won last year, including the world-record $2.04 billion jackpot won by a single ticket in California on November 7.
In August 2021, Powerball introduced a third weekly drawing in an effort to grow jackpots more quickly. The odds of winning a reward are 1 in 24.9, while those of winning the jackpot are 1 in 292.2 million., as per Fox Business.
Since late November, the current Powerball jackpot has been growing, escaping participants for 32 straight draws. The Wednesday drawing produced three $1 million winning tickets, two in Florida and one in North Carolina, and a $2 million winning ticket in New York. However, no ticket matched all six winning numbers.
If the jackpot is won on Saturday, it will be the sixth-largest in Powerball history, surpassing two jackpots won in California, including the $632.6 million sum shared with a winner in Wisconsin last year. According to The Hill, the 10 largest Powerball jackpots in history are:
- $2.04 billion - November 7, 2022; California
- $1.586 billion - January 13, 2016; California, Florida, and Tennessee
- $768.4 million - March 27, 2019; Wisconsin
- $758.7 million - August 23, 2017; Massachusetts
- $731.1 million - January 20, 2021; Maryland
- Est. $700 million - February 4, 2023
- $699.8 million - October 4, 2021; California
- $687.8 million - October 27, 2018; Iowa and New York
- $632.6 million - January 5, 2022; California and Wisconsin
- $590.5 million - May 18, 2013; Florida
Read Also : US Sending Small-Diameter Bomb to Ukraine
How Much Tax Powerball Winner May Face?
The winner, who faces chances of one-in-292.2 million to claim the prize, has the option of accepting the money in 30 yearly payments over 29 years, beginning with the first payment, or as an upfront pre-tax cash lump sum - the option that is substantially more common among lottery winners.
The IRS would instantly deduct approximately 24% of the cash winnings as an automatic federal tax withholding, lowering the amount the lucky winner would take home by around $90 million, to approximately $285.5 million.
Per Forbes, the winner also faces a federal marginal income tax rate of up to 37%, indicating that without a decrease in taxable income through tax deductions such as charitable donations, they would need to set aside another $48.9 million, decreasing the award to almost $236.7 million.
Related Article : Mega Millions Jackpot Winning Numbers
@YouTube
