The best, worst states to win the $950M Powerball jackpot in
(NEXSTAR) — Another drawing has come and gone, yet no ticket was lucky enough to overcome the odds and win the Powerball jackpot Wednesday night. Now, the jackpot sits at an estimated $950 million, edging ever-closer to being among the five largest in Powerball history.
The jackpot grew immensely between Monday's drawing and Wednesday's. As of Tuesday morning, the jackpot sat at $815 million. By Wednesday morning, it was $850 million. With two days before Saturday's drawing, there's a chance the jackpot will get closer to — or even surpass — $1 billion.
Regardless of how large the Powerball jackpot is, there are some states that are better to win in than others. It's primarily due to the payout, and your state's lottery tax rate.
Let's say you overcome the odds — 1 in 292.2 million for Powerball — and win the jackpot on Saturday. Because it's difficult to estimate whether or not the jackpot will grow before the next drawing, and by how much, we'll use the current estimated value of $950 million with a cash option of $428.9 million.
No matter where you live, your prize will be subject to 24% in federal tax withholding immediately. With additional taxes, you’ll see roughly 37% of your prize money withheld, according to USA Mega.
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