Powerball Jackpot Surges Past $500 Million Amid Recent Big Wins and Near Misses

1 min read
Source: Forbes
Powerball Jackpot Surges Past $500 Million Amid Recent Big Wins and Near Misses
Photo: Forbes
TL;DR Summary

The Powerball jackpot has risen to $501 million after no winners, with winners able to choose between annual payments or a lump sum of $229.5 million. After federal and state taxes, the take-home amount decreases significantly, with the highest possible after taxes being around $144.6 million for a lump sum. The next drawing is scheduled for August 11, and the jackpot continues to grow if no winner is found.

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