With Mega Millions at $600 million, here’s how much $1.8 billion Powerball winners get
Edwin Castro of Altadena, California, won largest lottery prize with $2.04 billion Powerball on Nov. 7, 2022. He chose cash option, just shy of $1 billion.
Hear the winning Powerball numbers for $1.8 billion jackpot drawing
Two lucky players beat the odds to win the Powerball jackpot after it rose to a near all-time high of about $1.8 billion.
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- Missouri Lottery said their state winner in $1.8 billion Powerball, who remains anonymous, took $410.3 million cash option.
- Texas Lottery said their $1.8 billion Powerball winner chose one-time lump sum for $410.3 million. In Texas, winners can stay anonymous.
- After Edwin Castro’s $2.04 billion Powerball lottery win, he took the cash option of $997.6 million.
- Mega Millions jackpot for Tuesday, Oct. 14, 2025, is $600 million with a cash option of $277.2 million.
Can a $2 Powerball lottery ticket make you a billionaire? So far, no. But at least one person has come close.
And now that the Mega Millions jackpot has reached $600 million, lottery fever is spiking — again.
Last month, a pair of tickets from Texas and Missouri won big in the $1.8 billion Powerball.
On Sept. 6, two tickets matched all five numbers plus the Powerball to win the nation’s second-largest lottery prize in U.S. history, roughly $1.8 billion. The Powerball lottery streak, which lasted through the summer, marked the 13th time in history that a lottery jackpot reached and surpassed $1 billion.
But will the winners from Texas and Missouri become billionaires?
Not exactly.
A QuikTrip gas station and convenience store in St. Louis, Missouri, and a Big’s 103 gas station and convenience store in Fredericksburg, Texas, sold the winning Powerball tickets. Since there were two winners, the $1.787 billion prize was split at $893.5 million or a one-time lump sum of $410.3 million, both amounts before taxes.
Two weeks after the draw, the Missouri Lottery announced that state’s winner came forward to claim their $893.5 million with the cash prize of $410.3 million. The organization said the Missouri Powerball player, who set a record and claimed the largest prize ever won by a Missouri Lottery player, “plans to take time off and enjoy the experience.”
As of Monday, Oct. 13, the Texas winner has not come forward. However, the Texas Lottery did announce that their $1.8 billion Powerball winner chose the cash value − players there must select the lump sum or annuity at the time of ticket purchase − and also will receive $410.3 million, specifically $410,324,470.28, before taxes.
Here’s an estimate of how much the $1.8 billion Powerball winners will take home after taxes and a look back at how a $2 Powerball ticket almost made someone a billionaire.
Mega Millions jackpot at $600 million. How much is the cash option?
After no one matched all five numbers plus the Mega Ball in the Friday, Oct. 10, Mega Millions drawing, the lottery rolled over for the 11th time. The Mega Millions jackpot for Tuesday, Oct. 24, climbed to $600 million, with a cash option of $277.2 million.
In case you’re wondering, the winning numbers for the Mega Millions drawing on Friday, Oct. 10, were 3-18-23-32-56 and the Mega Ball was 8.
Mega Millions tickets start at $5 apiece.
How much will $1.8 billion Powerball winner in Missouri take home after taxes?
The Missouri winner chose the one-time payment of about $410.3 million. By law, the Missouri Lottery may not publish names of lottery jackpot winners without prior consent. Effective Aug. 28, 2021, Missouri Lottery will publish your a winner’s name only if the winner has provided written consent, in accordance with HB 402.
Missouri Lottery rules state all lottery winnings are subject to federal and state taxes, and the Missouri Lottery organization is “required to withhold 4% Missouri state tax on prizes of $600.01 or more, along with 24% federal tax for prizes of more than $5,000. Winners may owe additional taxes for the prize or they may receive a refund, depending on personal income.”
Using that formula, 24% of $410.3 million equals $98.47 million, with 4% of $410.3 million at $16.41 million. Adding those two values and then subtracting $114.88 million from $410.3 million leads to $295.42 million for the Missouri winner.
How much will $1.8 billion Powerball winner in Texas take home after taxes?
According to the Texas Lottery, “winnings are subject to federal income tax withholding (prizes greater than $5,000.00). The tax withholding rate is 24% for lottery winnings, less the wager, for prizes greater than $5,000.”
The lottery organization recommends winners consult financial tax and legal experts “because the amount of taxes owed by an individual is different for each individual winner.”
In addition, some states, like Texas, are not subject to state income for tax lottery winnings.
“Only a few states — California, Florida, New Hampshire, South Dakota, Tennessee, Texas, Washington and Wyoming — do not impose a state tax on lottery winnings. Keep in mind that although living in these states may allow you to shelter your winnings from state tax, federal withholding and taxes will still apply,” financial site NerdWallet states.
The Texas winner of the $1.8 billion Powerball prize opted for the cash at the time of ticket purchase, so their share of the prize, like the Missouri winner, is $410.3 million before taxes. The amount taken from the prize, $98.47 million or 24% for federal taxes, leaves the winner with $311.83 million. However, the total lump sum is subject to a federal tax rate of up to 37%. That means another $53.34 million in addition to the $98.47 million withheld by the Texas Lottery. The Powerball lottery winnings would be part of the Texas winner’s 2025 federal income tax return and would ultimately leave them with $258.49 million, assuming no other deductions.
Who is Edwin Castro? Who won $2.04 billion Powerball drawing?
Edwin Castro of Altadena, California, sole winner of the $2.04 billion Powerball drawing on Nov. 7, 2022, opted for the lump sum, which was just shy of $1 billion, according to the California Lottery. Castro bought the ticket that matched all five numbers plus the Powerball from Joe’s Service Center in Altadena, California.
Declining to appear on camera, Castro claimed his prize on Feb. 14, 2023 − Valentine’s Day − and received a check from the California Lottery for $997.6 million during a press conference. In California, it is public record to know who won a Powerball, Mega Millions or California Lottery jackpot and where the winning ticket was sold. Rules vary in other states, such as Florida, where it is public record to know who won a lottery jackpot, though winners in that state can claim their grand prize through a trust or LLC.
California, like Texas, does not impose a state tax on lottery winnings. After taxes, Castro likely walked away with $628.5 million, USA TODAY reported.
What are the odds of winning Powerball lottery jackpot?
The $1.8 billion Powerball lottery numbers for Saturday, Sept. 6, 2025, were 11-23-44-61-62 and the Powerball was 17.
According to Powerball.com, players have a 1 in 292.2 million chance to match all six numbers whether the jackpot is $20 million or $2 billion. Prizes range from $2 to the grand prize jackpot, which varies.
Contributing: George Petras and Javier Zarracina, USA TODAY
Sangalang is a lead digital producer for USA TODAY Network. Follow her on Twitter or Instagram at @byjensangalang. Support local journalism. Consider subscribing to a Florida newspaper.
This content is sourced from www.tcpalm.com and is shared for informational purposes only.
