As well, of the 45 states where the multi-state lotteries can be played, only eight of them don’t collect state lottery taxes. Fast Play Current Estimated Jackpot Last updated 04:45:02 AM. The Powerball jackpot was last hit in the Oct. However, most players chose to take the lump-sum payment instead of the annuity option which cuts the actual amount by more than half.Īnd lottery windfalls are cut down further with a instant cut going to the tax man followed by income taxes later on from the federal government. Currently, the two lotteries are tied for the number of top ten largest jackpots in US history.Īll but one of the biggest jackpots in US history have amassed a ten-digit theoretical payout. Wednesdays estimated jackpot ranks as the third largest in the Powerball game and seventh largest among U.S. The jackpot has a cash value of 551.7 million.
They had a similar effect of swelling the jackpots on offer. The Powerball jackpot now stands at an estimated 1.2 billion for the next drawing on Wednesday night. Not to be outdone, Mega Millions changed its rules a couple years after Powerball.
