(NEXSTAR) — For nearly the 40th time, the Powerball jackpot has rolled over. Without any winning tickets in Monday’s drawing, the grand prize has now ballooned to an estimated $815 million, making it the seventh-largest in game history.
Monday’s drawing — white balls 16, 19, 34, 37, 64 and red Powerball 22 — included some of the “hottest” Powerball numbers, but it wasn’t enough for any ticket to secure the jackpot. Two tickets, one each in Georgia and Texas, matched all five white balls drawn but not the red Powerball, leaving them with $1 million prizes apiece.
Their narrow miss, however, has given way to the record jackpot, which has an estimated cash value of $367.9 million.
At its current estimated value, the current Powerball jackpot ranks as the largest of the year, surpassing a $515 million prize won by a ticket sold in California in March. It’s also now the largest jackpot since a $1.326 billion payout was secured by a ticket in Oregon in April 2024.
If you are lucky enough to win the Powerball jackpot after Wednesday’s drawing, your payout would be far less than that, regardless of whether you select the annuitized payouts or the cash option.
A lottery prize this large is subject to 24% in federal tax withholding immediately. With additional taxes, you’ll see roughly 37% of your prize money withheld.
In the handful of states that do not have a local lottery tax withholding, you would be eligible for the largest possible payout. According to an analysis by USA Mega, that would be about $514.7 million after all 30 annuitized payments are disbursed, or $231.8 million with the cash option.
Outside of those states, there are none in which the annuitized payments would total more than $500 million, USA Mega determined. Arizona and North Dakota are close, at $494.4 million and $491.1 million, respectively. Cash payouts in those states would be about $222.6 million and $221.2 million.
A winner in New York, with the highest lottery tax rate, would take home the smallest payouts at about $425.9 million in annuitized payments and $191.7 million in cash.
In none of those states would the payout be enough to offset the costs of ensuring you win the Powerball jackpot.
The interactive map below shows the estimated annuitized and cash payouts for the current Powerball jackpot, according to USA Mega’s analysis. You’ll notice a few states are gray on the map — these do not participate in Powerball or Mega Millions.
Your payout could also change if there are multiple jackpot winners, which isn’t unheard of, or if the jackpot increases or decreases before the drawing.
If you’re lucky enough to win the jackpot, even if you aren’t the sole winner, experts recommend moving quickly to assemble a team that includes an attorney, a tax advisor and a financial advisor. They also encourage protecting your ticket and keeping your victory a secret for as long as possible.
The next drawing is scheduled for 10:59 p.m. ET on Wednesday. Powerball tickets are $2 each and are sold in 45 states, the District of Columbia, Puerto Rico, and the U.S. Virgin Islands.
(Except for the headline, this story has not been edited by PostX News and is published from a syndicated feed.)
