[ad_1]
The Powerball jackpot continues to grow after no ticket won the grand prize in Wednesday night’s drawing.
The winning numbers drawn for Wednesday’s Powerball were 25, 33, 53, 62 and 66, with a red Powerball of 17 and a 4x Power Play multiplier.
While there were no jackpot winners, two tickets sold in Arizona and Massachusetts won $2 million each by matching five numbers with the Power Play multiplier. Six tickets matched five numbers to win $1 million each, including three in New York and one each in Connecticut, Pennsylvania and Tennessee.
The $1.5 billion jackpot for the next drawing on Saturday, Dec. 20 ranks as the fifth-largest in Powerball history and the seventh largest among U.S. lottery jackpot. The jackpot is for a sole winner who chose to receive the winnings through an annuity option, paid over 30 years. Winners almost always opt for the cash option, which would be $572.1 million.
The prize is subject to taxes, which includes an automatic withholding tax of 24% levied against the winnings, and another 13% in federal taxes when you file your 2025 return.
There are also state taxes in some jurisdictions, which range from 2.9% to 10.9% depending on the state you live in. But if you’re lucky enough to live in California, Florida, New Hampshire, South Dakota, Tennessee, Texas, Washington or Wyoming, you won’t pay taxes on your winnings.
No one has won Powerball’s jackpot since Sept. 6, a stretch of 44 consecutive drawings without anyone matching the game’s six numbers. That sets a Powerball record for the longest run without a grand prize awarded. The previous record run for a single jackpot cycle was 42 drawings.
The reason for the jackpot drought is simple: The odds of winning the top prize are miserable, at 1 in 292.2 million. It’s those odds that create the large jackpots that are designed to attract attention and drive up sales.
Powerball is played in 45 states, Washington, D.C., Puerto Rico and the U.S. Virgin Islands. There are three drawings per week — Mondays, Wednesdays and Saturdays — and tickets cost $2 each. Adding the Power Play option, which can multiply winnings by two, three, four, five or 10 times, to a ticket costs an extra $1.
The drawing takes place at 10:59 p.m. ET and can be streamed live on Powerball.com.
Millions, if not billions, are up grabs once a winning lotto ticket goes unclaimed. What to know about who gets to keep it.
[ad_2]
Maria Fernanda Toledo
Source link