Powerball jackpot jumps to $875 million - the second biggest this year
Powerball jackpot soars to $875M but winner faces immediately losing half
- The Powerball jackpot has soared to $875 million, making it the second largest prize this year in the United States and the seventh biggest in the game's history.
- This significant increase follows Saturday's draw where no one claimed the winning numbers, with the next draw scheduled for Monday night.
- Four people secured $1 million prizes in Saturday's draw, with tickets purchased in Florida, Georgia, Texas, and New Jersey.
- The winner of the $875 million prize will face odds of approximately 1 in 292 million and can choose between 30 annualized payments or a pre-tax lump sum of $403.6 million.
- If the winner picks the lump sum, the federal withholding tax, which stands at 24 percent, will be applied, knocking down the win to $306.7 million.