A Powerball jackpot estimated at $1.09 billion, the 9th largest in American lottery history, is up for grabs Wednesday evening.
Here are Wednesday’s winning numbers: 11, 62, 65, 38, 41, 15. The PowerPlay was 3x.
The Powerball jackpot has been rising for more than three months, reflecting long odds of 1 in 292.2 million to win the top prize. Since the last player won the jackpot on January 1, there have been 39 consecutive draws without anyone matching all six numbers and striking out rich.
Lottery officials note that thousands of people have won smaller prizes, ranging from $2 million to $2 million.
The drawing comes a week after someone from New Jersey defied the odds and won the $1.13 billion Mega Millions jackpot.
The $1.09 billion prize is for a single winner who chooses to be paid as an annuity, with 30 annual payments. Winners almost always prefer the cash option, which for Wednesday’s drawing would be valued at $527.3 million.
“The lesson didn’t really go as planned.” Maths teacher Nicholas Kapoor bought a Powerball ticket to demonstrate how unlikely it is to win the lottery – and he went on to win $100,000. Here’s what he wants you to know about playing Powerball.
The prize is subject to taxes, which include an automatic 24% withholding tax taken from winnings, and another 13% 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 in which you live. But if you are lucky enough to live in California, Florida, New Hampshire, South Dakota, Tennessee, Texas, Washington. or Wyoming, you won’t pay taxes on your winnings.
Powerball is played in 45 states, plus Washington, DC, Puerto Rico and the U.S. Virgin Islands. Drawings take place at 10:59 p.m. EST at the Florida Lottery studio in Tallahassee.
Has it become more difficult to win?
Yes, Powerball and Mega Millions lotteries have become more difficult. The Powerball lottery increased the odds of winning the top prize from 1 in 175.2 million to 1 in 292.2 million currently in 2015, according to the Associated Press. Mega Millions went from 1 in 258.9 million to 1 in 302.6 million two years later.
Why are lottery jackpots so big these days?
Jackpots grew because as lotteries added to the pool of numbers players could choose from, it became more unlikely to win one, Kapoor said. The result was the largest lottery jackpots in American history over the past 10 years. And as the jackpots grow, more and more people buy tickets.
But like other things, lottery ticket sales are cyclical and fluctuate with the economy and recessions.
NBC Chicago
