Powerball jackpot jumps to $800 million for Monday – NBC Los Angeles

You may not have won this round, but the sweepstakes is not over.

Powerball announced its upcoming jackpot for Monday’s drawing will be an estimated $800 million after no one won the $750 million jackpot up for grabs Saturday night.

The winning numbers for Saturday’s drawing were 6, 23, 25, 34, 51 and a PowerBall of 3. The PowerPlay was 2x.

Monday’s prize will come with a $384.8 million one-time cash payment option. The $800 million, if won, would be paid with 30 payments over 29 years. Most winners choose the cash option.

The last time a Powerball jackpot was won was on Jan. 1, 2024, when a lucky person in Michigan won the $842 million jackpot.

The Powerball drawing comes as the Mega Millions jackpot has risen to $1.1 billion for Tuesday’s drawing, representing the eighth-largest jackpot ever.

If you were to win, the prize is subject to taxes, which include an automatic withholding tax of 24% levied against the winnings, and another 13% in federal taxes when you file your 2024 return.

There are also state taxes in some jurisdictions, which range from 2.9% to 10.9% depending on the state you live in. But if you’re lucky enough to live in California, Florida, New Hampshire, South Dakota, Tennessee, Texas, Washington or Wyoming, you won’t pay income in your winnings.

The largest lottery jackpot in U.S. history stands at $2.04 billion and was won by a single Powerball ticket in California on Nov. 7, 2022. The winner, Edwin Castro, came forward in 2023 after months of speculation.

Powerball is played in 45 states, as well as Washington, D.C., Puerto Rico and the U.S. Virgin Islands. Drawings are held every Monday, Wednesday and Saturday at 10:59 p.m. EST from the Florida Lottery draw studio in Tallahassee.

Winner winner chicken dinner! You just won the lottery, but do you know what to do next? Here’s what to know before you cash out.

#Powerball #jackpot #jumps #million #Monday #NBC #Los #Angeles

Leave a Comment