The Powerball jackpot has been growing for more than three months, reflecting the long odds of 1 in 292.2 million of winning the top prize. Since the last player won the jackpot on Jan. 1, there have been 39 consecutive drawings without anyone matching all six numbers and hitting it rich. The $1.09 billion prize is for a sole winner who chooses to be paid through an annuity, with 30 annual payments.
Winners almost always prefer the cash option, which for Wednesday's drawing would be an estimated $527.3 million. “The lesson didn’t really go according to plan.” Math professor Nicholas Kapoor bought a Powerball ticket to demonstrate how improbable it is to win the lottery – and then he won $100,000. Here’s what he wants you to know about playing the Powerball. 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 2024 return