The Powerball jackpot has surged to an estimated $1.3 billion following the absence of a winner in the latest drawing held on Monday night. Lottery enthusiasts will have another opportunity to play on Wednesday at 10:59 p.m. ET. This colossal jackpot marks the fifth-largest in the history of Powerball, with an impressive estimated cash value of $589 million. For context, the record Powerball jackpot stands at $2.04 billion, a prize that was claimed on November 7, 2022, according to the latest data from Powerball.
For those contemplating joining the fray, it’s essential to understand the odds. The likelihood of winning the jackpot is approximately 1 in 292.2 million, while the overall odds of securing any prize sit at 1 in 24.9. This upcoming drawing will be the 41st since the jackpot was last claimed in California on May 31. Notably, the jackpot has been claimed four times already this year, showcasing the thrilling possibility of winning.
The CBS News data team has meticulously analyzed the history of Powerball drawings, detailing the timing and size of every jackpot in 2025. This data provides valuable insights for players, allowing them to make informed decisions when selecting their numbers.
Winning the Powerball jackpot is not just about the thrill of the game; it's also crucial to consider the tax implications. Winners have the option to receive their prize as an annuity, which is paid out in 30 graduated payments over 29 years, or as a lump-sum payment. Regardless of the chosen method, the Internal Revenue Service (IRS) takes a significant cut. Federal law mandates a 24% withholding on lottery winnings over $5,000, with an additional 14.6% due at tax time, resulting in an overall federal tax rate of around 37%.
Moreover, many states impose their own income taxes on lottery winnings, which can vary significantly—from a few percent to over 10%. However, some states, including California, Florida, New Hampshire, South Dakota, Tennessee, Texas, Washington, and Wyoming, do not tax lottery prizes. A winner in these states could expect to receive approximately $820 million in annuity payments over 30 years, or about $371 million as a lump sum after federal taxes, based on data from USA Mega.
Conversely, in states with higher tax rates, the after-tax payout is significantly lower. For example, a winner in Minnesota could take home around $692 million after taxes, while a winner in Oregon would receive $691,589,400. Other states like New Jersey and New York offer lower payouts, with New York providing the least after-tax amount at approximately $678,589,380. Notably, some states like Alaska, Alabama, Hawaii, Nevada, and Utah do not participate in Powerball.
Players select five numbers from 1 to 69, along with one Powerball number from 1 to 26. Analyzing recent draws, the most frequently drawn Powerballs in the last 100 drawings were 2, 5, 9, 20, and 25, as reported by USA Mega. Among the white balls, the numbers 4, 23, 28, 40, and 52 have appeared most frequently. Interestingly, some numbers, such as Powerballs 16 and 26, have yet to be drawn, indicating potential opportunities for future draws. While each drawing is inherently random, tracking these trends can help players make more informed choices when selecting their numbers.
In summary, with a staggering $1.3 billion jackpot on the line, the upcoming Powerball drawing presents an exhilarating opportunity for players. Understanding the odds, tax implications, and number trends can enhance the experience and potentially lead to life-changing wins.
