The Powerball jackpot has surged to an impressive $1 billion after Wednesday night’s drawing, marking it as the second-largest lottery prize of 2025. No tickets matched the six numbers drawn, which were 10, 16, 29, 33, 69, and the Red Powerball 22, leaving players and hopefuls eagerly anticipating the next chance to win.
Should a winner emerge in the upcoming draw, they will face a significant decision: opt for the billion-dollar prize distributed over 30 years or take a lump-sum cash option of $461.3 million, a choice that is typically favored by most winners. However, the lump-sum payout is subject to immediate deductions. Once the federal withholding tax of 24% is applied, this amount decreases to approximately $351 million. Furthermore, depending on their overall taxable income, the winner may encounter a federal marginal tax rate as high as 37%, effectively reducing the total payout to an estimated $291 million.
If the winner chooses the installment payments, they would receive annual payments of $33.3 million, which would also be subject to taxes. After accounting for the 37% federal marginal tax, the annual payouts would be adjusted to around $21 million.
As excitement builds around the massive jackpot, attention now turns to the next Powerball drawing scheduled for Saturday night, where players will once again try their luck at winning the life-changing sum.
