The Powerball jackpot climbed to $707 million this Thursday after the drawing on Wednesday, July 29, in which no ticket matched the winning combination.
According to Forbes, this is the second lottery prize to exceed $700 million this year, and it comes just 24 hours after a ticket sold in Florida won the $800 million Mega Millions.
The numbers from Wednesday's drawing were 30, 36, 40, 42, and 57, with the red Powerball 2 and Power Play 2x.
The only significant prize of the night was a $1 million ticket sold in Maryland, which matched the five white numbers without hitting the Powerball.
The next draw is on Saturday, August 1, with an estimated cash value of $309.7 million.
What the Powerball winner would take home
Whoever wins on Saturday will be able to choose between receiving $707 million in 30 annual installments or taking the lump sum payment of $309.7 million.
That amount is significantly reduced after taxes: the mandatory federal withholding of 24% would leave it at $235.4 million, and applying the maximum marginal rate of 37%, the net would be around $195.1 million.
The state of residence also plays a role: New York imposes a state tax of 10.9% on earnings, while Florida, Texas, and California do not levy a state tax.
The odds of winning the jackpot are 1 in 292.2 million.
Powerball arrives in the United Kingdom
A development that could accelerate the growth of future jackpots is the expansion of Powerball to the United Kingdom, which began on July 21, 2026.
This is the first time that a non-American lottery has contributed to the jackpot fund.
In the United Kingdom, the rules are different: tickets cost £4 per play and they cannot choose a one-time cash payment, only the jackpot in 30 annual payments.
The announced prize for them is £377 million (approximately $503.5 million), which reflects the estimated amount after exchange rates and British taxes over three decades.
The mystery of the winner of the 800 million Mega Millions
While the Powerball jackpot continues to grow, the Mega Millions winner remains unseen.
The winning ticket was sold at a Wawa station located at 14510 State Road 70 E, in Bradenton, Florida, as confirmed by the Florida Lottery.
That drawing ended a streak of 38 consecutive drawings without a winner that had been ongoing since March 17, 2026. The prize is the largest lottery jackpot of 2026 and the tenth largest in Mega Millions history.
The identity of the fortunate winner remains an absolute mystery, and Florida law allows it.
According to the NY Post, "when the prize is over $250,000, the winner's identity remains confidential for 90 days from the date they claim the prize."
After this period, the name becomes public record, although this law of temporary anonymity remains in effect until October 2, 2027.
The winner can also claim through a trust or an LLC, making only the name of the trustee or their attorney public, for greater long-term privacy.
If you choose the one-time cash payment of $344.2 million, the final net amount after federal taxes would be approximately $165.6 million, with the advantage that Florida does not impose a state tax on lottery winnings.
The winner has 180 days from the drawing to claim the prize and 60 days to choose the cash payment; otherwise, it will be automatically credited in 30 annual installments.
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