The post Powerball Jackpot Hits $593 Million—Here’s What The Winner Could Take Home appeared on BitcoinEthereumNews.com. Topline The Powerball jackpot rose to $593 million—the third biggest lottery prize of the year so far—after no tickets matched all six numbers drawn on Monday night, although the eventual winner will take home a much smaller payout after taxes and deductions. The Powerball jackpot $593 million after Tuesday’s drawing. Copyright 2025 The Associated Press. All rights reserved Key Facts The six numbers drawn on Monday night were 7, 33, 50, 57, 66 and Red Powerball 23. If a winner emerges in the next draw, they can choose between taking the $593 million prize spread over 30 annual installments or a one-time lump sum payment of $277.6 million—the preferred choice for most winners. If the cash payout is picked, the winnings will first drop to around $211 million after a mandatory federal withholding of 24% 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 $175 million. If the installments route is chosen, the winner’s annual payments of around $19.8 million would fall to $12.5 million after the 37% federal marginal rate is applied. Depending on their home state, 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 To Watch For The next Powerball jackpot draw is set to take place on Wednesday night. Read More Source: https://www.forbes.com/sites/siladityaray/2025/11/18/powerball-jackpot-nears-600-million-heres-what-the-winner-could-take-home-after-taxes/The post Powerball Jackpot Hits $593 Million—Here’s What The Winner Could Take Home appeared on BitcoinEthereumNews.com. Topline The Powerball jackpot rose to $593 million—the third biggest lottery prize of the year so far—after no tickets matched all six numbers drawn on Monday night, although the eventual winner will take home a much smaller payout after taxes and deductions. The Powerball jackpot $593 million after Tuesday’s drawing. Copyright 2025 The Associated Press. All rights reserved Key Facts The six numbers drawn on Monday night were 7, 33, 50, 57, 66 and Red Powerball 23. If a winner emerges in the next draw, they can choose between taking the $593 million prize spread over 30 annual installments or a one-time lump sum payment of $277.6 million—the preferred choice for most winners. If the cash payout is picked, the winnings will first drop to around $211 million after a mandatory federal withholding of 24% 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 $175 million. If the installments route is chosen, the winner’s annual payments of around $19.8 million would fall to $12.5 million after the 37% federal marginal rate is applied. Depending on their home state, 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 To Watch For The next Powerball jackpot draw is set to take place on Wednesday night. Read More Source: https://www.forbes.com/sites/siladityaray/2025/11/18/powerball-jackpot-nears-600-million-heres-what-the-winner-could-take-home-after-taxes/