The Powerball jackpot jumped to $526 million—the third 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 rose to $526 million after Wednesday's drawing.
The six numbers drawn on Wednesday night were 2, 7, 18, 29, 38 and Red Powerball 16.
If there’s a winner in the next draw, they will get to choose between receiving the $526 million split across 30 annual installments or a one-time cash payout of $233.5 million—the preferred option for most winners.
If the winner chooses the cash prize, their winnings will first drop to about $177.46 million after a mandatory 24% federal withholding tax is applied.
