Powerball Jackpot Climbs to $633M Ahead of Monday Drawing

The Powerball jackpot has risen to an estimated $633 million after no ticket matched all six winning numbers in Saturday night’s drawing. The winning combination was 3, 4, 24, 36, 47, with Powerball number 17, leaving the top prize unclaimed and pushing the jackpot higher for the next drawing scheduled for Monday night.

If a player wins the jackpot on Monday, they can choose between receiving the full advertised prize through 30 annual payments or taking an immediate cash option valued at approximately $277.3 million. Most jackpot winners historically select the lump-sum payout rather than the annuity.

A winner choosing the cash option would first be subject to a mandatory 24% federal withholding tax, reducing the payment to about $210.7 million. Because the prize would likely place the winner in the highest federal income tax bracket, the effective federal tax rate could reach 37%, leaving an estimated after-tax total of roughly $174.7 million.

Those who opt for the annuity would receive payments spread over 30 years, with each annual installment increasing by 5%. After accounting for the same federal tax rates over the payment period, the combined after-tax value would total approximately $400 million across the next 29 years.

State taxes may further reduce winnings depending on where the winning ticket is purchased. New York imposes one of the highest state tax rates on lottery prizes at 10.9%, while states including Texas, California, and Florida do not tax lottery winnings.

The next Powerball drawing is scheduled for Monday at 10:59 p.m. EDT. Players can watch the drawing live through Powerball’s official website or its YouTube channel.

Saturday’s drawing also marked only the second game to include participants from the United Kingdom following the lottery’s recent expansion there. While the larger player pool could contribute to jackpots growing more quickly, the odds of winning the grand prize remain unchanged.

The probability of matching all five white balls and the Powerball to win the jackpot remains approximately 1 in 292.2 million. Matching all five white balls without the Powerball earns a $1 million prize and carries odds of about 1 in 11.6 million. Despite those long odds, six players won the $1 million prize in Saturday’s drawing with tickets sold in Michigan, Mississippi, North Carolina, Pennsylvania, Texas, and Washington.