Powerball Jackpot Reaches $835 Million as No Winner Emerges
DES MOINES, Iowa — The Powerball jackpot continues to climb, reaching an unprecedented estimated $835 million after Monday night’s drawing failed to produce a top-prize winner.
The winning numbers for the latest Powerball draw were 10, 12, 22, 36, 50, and 4. However, no player was able to match all the numbers, extending the winless streak to 29 consecutive drawings since July 19 when a lucky Californian player won a staggering $1.08 billion.
The reason behind this prolonged stretch of no jackpot winners lies in the remarkably low odds of winning. The chances of hitting the Powerball jackpot are a staggering 1 in 292.2 million, contributing to the accumulation of such massive top prizes week after week.
Despite the absence of a jackpot winner, there were still some remarkable successes in this drawing. Three lucky individuals in Florida and one person in Oregon managed to match all five numbers, winning a substantial $1 million prize each.
The current Powerball jackpot is now among the largest in the world, falling behind only the grand prizes offered by the Powerball and Mega Millions games, both of which have exceeded $1 billion. The largest jackpot to date was a monumental $2.04 billion Powerball prize won by a fortunate player in California in November 2022.
It’s important to note that the advertised $835 million prize is based on a winner choosing annual payments over 30 years. However, most winners opt for the cash payout option. For the upcoming drawing on Wednesday night, the estimated cash payout will be a substantial $390.4 million.
As with any lottery winnings, the massive Powerball prize would be subject to federal taxes. Additionally, some states also impose taxes on lottery windfalls.
Powerball is played across 45 states in the United States, in addition to Washington, D.C., Puerto Rico, and the U.S. Virgin Islands. With the jackpot now reaching extraordinary levels, there is no doubt that numerous players will be eagerly awaiting the next drawing in hopes of securing their share of the astronomical prize.