Powerball Lottery: Discover Where Winners Take Home the Most and Least
Powerball Jackpot Overview
The Powerball jackpot has reached an estimated $1.7 billion after there was no winner in the most recent drawing. This represents a significant increase from the previous $1.4 billion.
Odds of Winning
The odds of winning the jackpot stand at 1 in 292.2 million, while the overall odds of winning any prize are 1 in 24.9. The upcoming drawing marks the 42nd consecutive drawing since the last jackpot was claimed.
Best and Worst States for Powerball Winners
Jackpot winners must decide between an annuity paid over 30 years or a lump-sum payment. However, per federal law, winnings over $5,000 incur a 24% federal withholding tax and an additional 14.6% during tax season, culminating in approximately 37% total federal tax.
States such as California, Florida, New Hampshire, South Dakota, Tennessee, Texas, Washington, and Wyoming impose no taxes on lottery winnings. A winner in these states could potentially retain $1.072 billion after taxes by opting for the annuity method. Conversely, winners in states like Minnesota and Oregon could see significant reductions from their bounty due to high state taxes.
Hot and Cold Numbers
Players select five numbers ranging from 1 to 69 and one Powerball number from 1 to 26. Despite the random nature of each drawing, trends regarding often-drawn numbers are noteworthy.
This article was prepared using information from open sources in accordance with the principles of Ethical Policy. The editorial team is not responsible for absolute accuracy, as it relies on data from the sources referenced.