Powerball Jackpot Hits $775 Million—Here’s What The Winner Could Take Home
Topline
The Powerball jackpot rose to $775 million, the third biggest lottery prize of 2025 so far, after no tickets matched all six numbers drawn on Monday night, although the eventual winner will take home a much smaller amount after taxes and deductions.
The Powerball jackpot rose to $775 million after Monday night’s drawing.
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Key Facts
The six numbers drawn on Monday night were 5, 18, 26, 47, 59 and Red Powerball 1.
If a winner emerges in the next draw, they can choose between taking the $775 million prize split over 30 annual installments or a one-time cash payment of $362.5 million—the preferred choice for most winners.
If the lump-sum option is chosen, the winnings will first drop to around $275.5 million after a mandatory federal withholding of 24% is applied.
The winner would likely face a federal marginal rate as high as 37%, depending on their taxable income, further reducing the winnings to around $228.4 million.
If the installment route is picked, the winner’s annual payments of around $25.8 million would fall to $16.3 million after the 37% federal marginal rate is applied.
Depending on their state of residence, the winner could face additional taxes, as some states, such as New York, tax lottery winnings at 10.9%, while others, such as Texas, Florida, and California, don’t.
Big Number
1 in 292.2 million. Those are the astronomical odds a Powerball ticket buyer must overcome to win the jackpot prize. This is worse than the Mega Millions jackpot’s already poor odds of 1 in 290.4 million.
What To Watch For
The next Powerball jackpot draw will take place Wednesday night.
Key Background
In September, a $1.78 billion Powerball prize was split between two ticket buyers, one from Missouri and another from Texas. That prize marked the biggest jackpot of the year so far and the second-biggest lottery prize of all time. Earlier this month, a single ticket sold in Georgia won the Mega Millions’ $980 million. Despite the Powerball prize being nearly two times larger, this month’s Mega Millions winner will likely take home the bigger payout, as the amount will not have to be split between two people.
Further Reading
Powerball Jackpot Grows To $740 Million—Here’s How Much A Winner Could Owe In Taxes (Forbes)
This content is sourced from www.forbes.com and is shared for informational purposes only.
