Topline
The Powerball jackpot soared to $498 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.
Key Facts
The six numbers drawn on Monday night were 5, 25, 36, 40, 48, and Red Powerball 3.
If a winner emerges in the next draw, they will have a choice between taking the $498 million prize, spread over 30 annual installments, or a lump-sum cash payout of $221 million—the preferred option for most winners.
If the winner chooses the cash payout, their winnings will first drop to around $168 million after a mandatory 24% federal withholding 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 $139.2 million.
If the staggered payments are chosen, the winner’s annual installments of around $16.6 million would fall to $10.45 million after the 37% federal marginal rate is applied.
Depending on where they live, 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 drawing is set to take place on Wednesday night. The next Mega Millions draw is scheduled for Tuesday, with the jackpot soaring to $637 million.
big number
1-in-292.2 million. Those are the abysmal odds a Powerball ticket buyer will need to overcome to win the jackpot. This is even worse than the Mega Millions jackpot’s odds of 1-in-290.4 million.
Key Background
The ongoing $637 million Mega Millions jackpot is on track to be the biggest lottery prize of the year so far. In March, a Mega Millions ticket sold in Illinois won a $533 million jackpot—the only other lottery prize of 2026 to exceed $500 million. The biggest claimed Powerball jackpot of the year so far is a $250.8 million prize won by a lottery player from Arkansas.
