The Powerball jackpot has surged to an estimated $1.1 billion after Saturday night's drawing failed to produce a winner, making it the fifth-largest prize in the game's history.
Saturday's Winning Numbers And $1 Million Winners
Saturday's winning numbers were 3, 18, 22, 27, 33 with a Powerball of 17, as reported by CBS News
While nine tickets matched all five white balls, each earning $1 million, no ticket matched all six numbers to claim the jackpot.
Jackpot Rolls Over To $1.1 Billion Ahead Of Monday Drawing
"The excitement keeps building every time the jackpot rolls over," said a Powerball spokesperson.
"Players across the country now have a chance at a life-changing prize this Monday." The jackpot winner can choose a lump-sum cash payment of $498.4 million before taxes, or an annuity of 30 annual payments increasing 5% each year.
Powerball Jackpot Payouts And Tax Impacts
Earlier in August, it was reported that the Powerball jackpot reached $426 million after a drawing produced no winners, but federal and state taxes significantly reduced the actual payout.
State tax policies varied widely. New York imposed the highest state lottery tax at 10.9%, while California, Florida, and Texas did not levy any state taxes on winnings.
In April, lottery history showed volatility: a California winner claimed $526 million in March with no state tax, while the largest recent jackpot of $1.3 billion was won by a cancer patient from Laos, who received $422 million after taxes.
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Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
Photo courtesy: HappyAngel 888 / Shutterstock.com
