Powerball jackpot data shows where winners could take home the most, and least

[ad_1] The Powerball jackpot climbed to an estimated $1.8 billion for Saturday evening's drawing and successful jackpot tickets have been bought in Texas and Missouri.

Saturday's jackpot was the second-largest in U.S. lottery historical past, with an estimated money worth of $826.4 million. The report jackpot was $2.04 billion, received on Nov. 7, 2022, based on Powerball.

The CBS Information knowledge group seemed into Powerball knowledge to see the place winners take dwelling essentially the most and least, how usually numbers are drawn, and the timing and dimension of each jackpot thus far this yr.

Here is how the numbers break down:

What are the percentages? The chances of successful the jackpot are 1 in 292.2 million, based on Powerball. The general odds of successful a prize are 1 in 24.9.

Saturday's drawing marked the forty second for the reason that jackpot was final claimed in California on Could 31, setting a brand new report for essentially the most consecutive drawings with no jackpot winner.

Up to now this yr, the jackpot has been hit 4 occasions. The chart beneath exhibits the timing and dimension of every jackpot thus far.

The very best and worst states to win Powerball Powerball jackpot winners could select to obtain their prize as an annuity, paid in 30 graduated funds over 29 years, or a lump-sum fee.

No matter choice you select, the Inside Income Service takes a reduce — and most states do, too.

Federal regulation requires a 24% withholding on lottery winnings over $5,000, with an extra 14.6% due at tax time, bringing the overall federal tax to about 37%. On prime of that, many states levy their very own earnings tax on winnings, which might vary from a number of % to greater than 10%, whereas a handful of states do not tax lottery prizes in any respect.

CBS Information checked out every state to see the place a jackpot winner might take dwelling essentially the most — and the least — after taxes.

States together with California, Florida, New Hampshire, South Dakota, Tennessee, Texas, Washington and Wyoming don't tax lottery prizes. A winner of a $1.8 billion jackpot in these states might obtain about $1.1 billion throughout 30 funds, or $521 million as a lump sum, after federal taxes, based on knowledge from USA Mega.

In states with larger taxes, the overall yearly funds would add as much as much less in states with larger taxes. For instance, a winner in Minnesota would obtain about $958 million, adopted by Oregon, $957,089,400; New Jersey, $941,789,400; Washington, D.C., $941,789,400 and New York, $939,089,400, which has the bottom after-tax annuitized payout.