Overview
- The Multi-State Lottery Association said Wednesday the top prize has grown to about $930 million, the second-largest Powerball jackpot of 2025.
- If won, the prize offers either a lump-sum cash option of roughly $429 million or an annuity totaling the advertised amount paid over 30 years, both before taxes.
- Federal withholding of 24% applies to prizes over $5,000 and the top marginal federal rate is 37%, which could reduce the cash option to roughly $270 million before any state taxes.
- The odds of winning the jackpot are about 1 in 292.2 million, and $2 tickets are sold in most U.S. jurisdictions except Alabama, Alaska, Hawaii, Nevada and Utah.
- Mega Millions most recently featured a $60 million jackpot for its Dec. 9 drawing with a $27.4 million cash option.