The post Powerball Jackpot Crosses $700 Million—Here’s What The Winner Could Take Home After Taxes appeared on BitcoinEthereumNews.com. Topline The Powerball jackpot rose to $719 million—the third biggest lottery prize of 2025 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 $719 million after Wednesday’s drawing. Copyright 2025 The Associated Press. All rights reserved Key Facts The six numbers drawn on Wednesday night were 7, 8, 15, 19, 28 and Red Powerball 3. If a winner emerges in the next draw, they can choose between taking the $719 million prize split over 30 annual installments or a one-time cash payment of $333.3 million—the preferred choice for most winners. If the lump-sum option is chosen, the winnings will first drop to around $253.3 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 $210 million. If the installment route is picked, the winner’s annual payments of around $24 million would fall to $15.1 million after the 37% federal marginal rate is applied. Depending on their state 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 To Watch For The next Powerball jackpot draw is set to take place on Saturday night. Read More Source: https://www.forbes.com/sites/siladityaray/2025/11/27/powerball-jackpot-crosses-700-million-heres-what-the-winner-could-take-home-after-taxes/The post Powerball Jackpot Crosses $700 Million—Here’s What The Winner Could Take Home After Taxes appeared on BitcoinEthereumNews.com. Topline The Powerball jackpot rose to $719 million—the third biggest lottery prize of 2025 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 $719 million after Wednesday’s drawing. Copyright 2025 The Associated Press. All rights reserved Key Facts The six numbers drawn on Wednesday night were 7, 8, 15, 19, 28 and Red Powerball 3. If a winner emerges in the next draw, they can choose between taking the $719 million prize split over 30 annual installments or a one-time cash payment of $333.3 million—the preferred choice for most winners. If the lump-sum option is chosen, the winnings will first drop to around $253.3 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 $210 million. If the installment route is picked, the winner’s annual payments of around $24 million would fall to $15.1 million after the 37% federal marginal rate is applied. Depending on their state 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 To Watch For The next Powerball jackpot draw is set to take place on Saturday night. Read More Source: https://www.forbes.com/sites/siladityaray/2025/11/27/powerball-jackpot-crosses-700-million-heres-what-the-winner-could-take-home-after-taxes/