Powerball Jackpot Crosses $850 Million—Here’s What The Winner Could Take Home
By Siladitya Ray,
Forbes Staff.
Siladitya Ray is a New Delhi-based Forbes news team reporter.
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Aug 06, 2026, 12:57am EDT
Topline
The Powerball jackpot rose to $856 million—the biggest lottery prize of the year so far—after no tickets matched all six numbers drawn on Wednesday night, although the eventual winner will take home a much smaller payout after taxes and deductions.
The Powerball jackpot soared to $856 million after Wednesday's draw.
Copyright 2025 The Associated Press. All rights reserved.
Key Facts
The six numbers drawn on Wednesday night were 14, 20, 59, 60, 61 and Red Powerball 25.
If a winner emerges in the next draw, they can choose between taking the $856 million split across 30 annual installments or a one-time cash prize of $372 million—the preferred pick for most winners.
If the lump sum prize is claimed, the winnings will first drop to $282.7 million after a mandatory 24% federal withholding is applied.
The winner would likely face a federal marginal rate as high as 37%, depending on their taxable income, further reducing the winnings to around $234.4 million.
If the installment option is chosen, the winner’s annual payouts of $28.5 million will drop to around $18 million after the 37% federal marginal rate is applied.
Depending on their place of residence, the winner could face additional taxes, as some states, such as New York, tax lottery winnings at 10.9%, while others, such as Texas, Florida, and California, don’t.
What About The UK Powerball Prize?
Starting last month, the Powerball Jackpot expanded to include U.K. lottery players, which officials claim will lead to “faster-growing jackpots,” with additional ticket sales contributing to the prize fund. If a U.K. player wins the jackpot, they can only receive the prize spread across 30 annual installments as they don’t have an option to choose a one-time cash payout. The Powerball jackpot prize advertised by the U.K. National Lottery is £444 million ($597.6 million). While this appears to be significantly lower than the $856 million, U.K. lottery officials note it reflects the estimated amount a winner would receive over a 30-year period, “after exchange rates and UK tax requirements have been taken into account.”
Key Background
This has grown to become the biggest lottery prize of the year so far, pipping an $800 million Mega Millions jackpot that was won by a Florida ticket buyer last Tuesday. Of the Powerball jackpots that have been claimed so far, 2026’s biggest is a $250.8 million prize won by a lottery player from Arkansas.
What To Watch For?
The next Powerball drawing is set to take place on Saturday night.
Big Number
1-in-292.2 million. Those are the astronomical odds a Powerball ticket buyer will need to overcome to win the jackpot prize. This is even worse than the Mega Millions jackpot’s already poor odds of 1-in-290.4 million.
further reading
Mega Millions Ticket Buyer From Florida Wins $800 Million—Here’s What They Could Take Home (Forbes)
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