This weekend’s Powerball drawing is one for the record books — the $1.8 billion jackpot is now the game’s second-highest prize of all time. (The world record is the $2.04 billion Powerball jackpot, which was won in California on Nov. 7, 2022.)
The winning ticket has an estimated cash value of $826.4 million.
“Excitement is building as players look forward to tomorrow night’s drawing for this historic jackpot,” said Matt Strawn, Powerball Product Group Chair and Iowa Lottery CEO, in a statement. “We encourage everyone to play responsibly and take pride in knowing that every $2 ticket also helps support good causes in their community.”
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Saturday’s Powerball drawing will be live-streamed on Powerball.com, broadcast live at 10: 59 p.m. ET from the Florida Lottery draw studio in Tallahassee. Powerball tickets cost $2 and are sold in 45 states, the District of Columbia, Puerto Rico, and the U.S. Virgin Islands.
How Much Money Will the Winner Receive?
A 24% federal tax is imposed immediately. Then, since the winner has skyrocketed themselves (if they weren’t there already) into the highest tax bracket (37%), the leftover tax will be pai