All articles tagged with #winnings
The Powerball jackpot has surged to $1.25 billion, the sixth largest in history, with no winners in 42 consecutive drawings, and the next drawing scheduled for Wednesday night in Florida. Players can choose between a lump sum of $572.1 million or annual payments, with odds of winning at 1 in 292.2 million.
The Powerball jackpot has risen to $1.3 billion after no winner was found in Monday's drawing, making it the largest lottery prize since April 2024. The winner can choose between a lump sum of approximately $589 million or annual payments totaling $1.3 billion, with taxes significantly reducing the take-home amount. The odds of winning are 1 in 292.2 million, and the next drawing is scheduled for Wednesday, with the jackpot potentially surpassing this year's biggest prize.
The Mega Millions jackpot has reached an estimated $619 million, making it the 10th-largest in the lottery's history. A winner can choose between a 30-year annuity or a $297.7 million lump sum, which would be reduced to $226.2 million after a 24% federal tax withholding. Depending on the winner's taxable income, the amount could further decrease to $187.5 million with a 37% federal tax rate. State taxes may also apply, varying from 2.5% to 10.9%, except in states like California and Texas, which do not tax lottery winnings.
A Powerball player in Oregon won a jackpot worth over $1.3 billion, ending a winless streak of over three months. The single ticket matched all six numbers drawn, with a cash value of $621 million if the winner chooses a lump sum. The prize, subject to federal and state taxes, marks the eighth largest in U.S. lottery history, with the drawing delayed for over three hours due to verification procedures.
A Powerball ticket sold in Oregon has won the $1.3 billion jackpot, ending a more than 3-month winless streak. The single ticket matched all six numbers drawn, with a cash value of $621 million if the winner chooses a lump sum. This marks the eighth largest prize in U.S. lottery history, with the last jackpot winner being on New Year's Day.
A single Powerball ticket sold in Oregon matched all six numbers for the $1.326 billion jackpot after Saturday night's drawing was delayed due to "pre-draw procedures." The jackpot has a cash value of $621 million, and the drawing produced more than 4.5 million winning tickets, including seven tickets that matched all five white balls to win $1 million prizes. This marks the 41st consecutive drawing without a winner, tying a record set twice before in 2022 and 2021, and the jackpot is the eighth largest in U.S. lottery history.
John Bubba of Buncombe County, North Carolina, won a $216,523 Cash 5 jackpot after matching all five white balls in the April 1 drawing. After tax withholdings, he took home $154,815 and plans to pay off his house and share the winnings with his adult children. Bubba hopes the jackpot will benefit his whole family, and the Cash 5 game in North Carolina offers players the option of buying tickets at retail locations or through online play.
If you're betting on the Super Bowl, be aware that nearly half of your winnings could be owed as taxes, including state taxes. All gambling winnings are considered taxable income by the IRS, and it's important to track and report your winnings and losses. While you can deduct gambling losses, most taxpayers don't itemize deductions, making it unlikely to claim them. Failing to report gambling winnings can result in penalties and potential legal consequences, so it's crucial to comply with tax regulations.
A group of three lottery club members in the Holland area won $6 million playing scratch-off games, opting for a one-time lump sum of about $4.1 million. They plan to use the winnings to pay off their mortgages and save the rest, expressing disbelief at their good fortune and recently claiming their prize at the Michigan Lottery headquarters.
A $44 million Florida lottery ticket remains unclaimed after months of searching and failed attempts to find the winner. The winning ticket was sold at a Sunoco Express gas station in Kissimmee, near Walt Disney World Resort. The owner of the gas station put up posters announcing the winning ticket, but no one has come forward to claim the prize. Unclaimed jackpots are rare, and the money will now go back to the state, with 80% being used for education programs. The lottery appeals to those who have lost faith in the traditional economic ladder but still dream of striking it rich.
A woman in Washington state celebrated her birthday by winning $150,000 in the "Hit 5" lottery game. She purchased two tickets with randomly generated numbers and discovered her win the next day. The lucky winner plans to use the money to pay bills and spoil her dog. Washington's Lottery has generated over $5 billion to support state programs, including college tuition assistance and early childhood education.
The Mega Millions jackpot for Tuesday, October 17 was $69 million, with the winning numbers being 5-6-29-32-61 and the Mega Ball as 20. The Powerball jackpot has dropped back down into the millions after a $2 billion jackpot was won in California. The odds of winning the Mega Millions jackpot are 1 in 302,575,350, while the odds of winning the Powerball jackpot are 1 in 292.2 million. Florida lottery winners cannot remain anonymous, and unclaimed prize money is returned to the prize pool or transferred to the Educational Enhancement Trust Fund. The largest lottery jackpot in U.S. history was $2.04 billion, won by a single ticket in California.
The Powerball jackpot has reached $1.04 billion, making it the fourth largest in the game's history. If a winning ticket is drawn, the winner can choose between a $1.04 billion payout over 30 years or a lump sum payment estimated at $478.2 million. However, after federal tax withholding and potential income tax, the lump sum could be reduced to around $301.3 million. State taxes will also affect the final amount. The next drawing will take place on Monday night.
The Powerball jackpot has reached an estimated $835 million after no one won the top prize in the latest drawing. This marks 29 consecutive drawings without a jackpot winner, highlighting the incredibly low odds of winning at 1 in 292.2 million. The new jackpot is one of the largest in the world, but winners typically opt for the cash payout option, which is estimated to be $390.4 million for the next drawing.
The Powerball jackpot has reached an estimated $785 million after no winner was announced for the $750 million prize. The winning numbers for Saturday's drawing were 1, 12, 20, 33, 66, and the red power ball 21. The cash option for the current jackpot is estimated at $367 million. Powerball is played in 45 states, Washington D.C., Puerto Rico, and the U.S. Virgin Islands.