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The grand prize for the Powerball reached $1.3 billion after no winners were recorded in the drawing held on Monday, September 1.
This amount makes this total one of the 10 highest jackpots ever drawn in the history of lotteries in the United States, including both Powerball and Mega Millions.
The next draw will be on Wednesday, September 3, 2025, and a massive turnout is expected due to the growing interest in the colossal jackpot.
How much does the winner of the grand prize actually take home?
The announced prize of 1.3 billion corresponds to the annuity option, meaning an initial payment followed by 29 increasing annual payments over 30 years.
However, the vast majority of winners choose the lump sum cash option, which in this case would be $589 million before taxes.
Lottery winnings are subject to both federal and state taxes
The federal government automatically withholds 24% of the cash prize.
When filing taxes, an additional approximately 13% is added, raising the total federal tax to 37%.
In addition, some states impose their own taxes, which range from 2.9% to 10.9%, depending on the jurisdiction.
Nonetheless, eight states do not impose state taxes on lottery winnings, so winners residing in California, Florida, New Hampshire, South Dakota, Tennessee, Texas, Washington, or Wyoming may keep a larger portion of their prize.
Monday's draw results: Million-dollar prizes, but no jackpot winner
The winning numbers of this Monday's draw were:
8, 23, 25, 40, 53, and Powerball red: 5.
The Power Play multiplier was 3x.
Although no player matched the six numbers required to win the jackpot, there were several winning tickets with considerable amounts
-Two winning tickets of $2 million, sold in Montana and North Carolina, which included the Power Play option.
-Ten winning tickets of $1 million, distributed among Florida, California, New Jersey (2), Kentucky, Massachusetts, Michigan, New York, Pennsylvania, and Virginia.
How do you play Powerball?
Powerball tickets cost $2 each, and players can add the Power Play option for an additional $1, which allows them to multiply their secondary winnings (although it does not apply to the jackpot).
It is worth noting that the Power Play option is not available in California.
To win the jackpot, it is necessary to:
-Getting the five main numbers right (from 1 to 69).
-Get the red Powerball (from 1 to 26).
The drawing takes place three times a week: on Mondays, Wednesdays, and Saturdays at 10:59 PM ET, and is available in 45 states, in addition to the District of Columbia and Puerto Rico.
What are the actual odds of winning?
The statistics are not in favor of dreamers. The odds of correctly guessing all six numbers and winning the jackpot are 1 in 292,201,338.
Even so, millions of players participate each week, driven by the possibility—however remote—of becoming overnight millionaires.
With a total of 1.3 billion dollars, the drawing this Wednesday, September 3rd, is shaping up to be one of the most anticipated moments in the recent history of Powerball.
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