Topline<\/p>\n
The Powerball jackpot rose to $565 million\u2014the year\u2019s biggest lottery prize so far\u2014after none of the purchased tickets matched all six numbers drawn on Wednesday night, but the eventual winner is likely to take home a much smaller amount after paying their taxes.<\/p>\n
The Powerball jackpot has now risen to become the biggest lottery prize of 2025 so far. <\/p>\n
Getty ImagesKey Facts<\/p>\n
The six numbers<\/a> drawn on Wednesday night were 4, 11, 40, 44, 50, and red Powerball 4.<\/p>\n If a winner emerges in the next draw, they can choose between receiving the $565 million spread across 30 annual installments or a one-time lump sum cash payout of $258.8 million, which is usually the more popular choice.<\/p>\n If the lump sum payout is chosen, the winnings will first drop to $196.7 million after a mandatory federal withholding of 24% is applied.<\/p>\n The winner then is likely to face a federal marginal rate as high as 37%, depending on their taxable income, further slashing the prize to $163 million.<\/p>\n If the winner picks the installment route, their annual payments of around $18.8 million would drop to $11.8 million if the 37% federal marginal rate is applied.<\/p>\n Depending on their state of residence, the winner could face additional taxes as some, such as New York, tax lottery winnings at 10.9%, while others, such as Texas, Florida, and California, don\u2019t.<\/p>\n What To Watch For<\/p>\n The next draw for the Powerball jackpot will happen on Saturday night. A day before that, the Mega Millions lottery will hold a draw for a $198 million jackpot prize.<\/p>\n Surprising Fact<\/p>\n The eventual winner will have to overcome astronomical odds of 1 in 292.2 million to win the Powerball jackpot. This is slightly worse than the Mega Millions jackpot, which has odds of 1-in-290.4 million. The Mega Millions used to have even worse odds than the Powerball lottery, but the competition implemented significant changes<\/a> earlier this year that slightly improved the odds of winning both the jackpot and smaller prizes.<\/p>\n Key Background<\/p>\n The current Powerball jackpot has now risen to become the biggest lottery prize of the year so far, eclipsing the $526.5 million<\/a> prize won by a Powerball ticket buyer from California in March. The biggest Mega Millions jackpot of 2025 so far was a $349 million prize won by an Illinois resident in March. Last year\u2019s biggest lottery prize was also a Powerball jackpot\u2014worth $1.326 billion\u2014which was won by an Oregon resident.<\/p>\n Further Reading<\/p>\n