U. S. News
The Powerball jackpot reached more than $800 million ahead of Saturday night’s drawing, cash-in option is $410 million before tax
By 
Editor-in-Chief
It was August 3rd when America saw the latest Powerball jackpot win. Since then, there have been a total of 36 consecutive draws without a jackpot winner, and the total prize ahead of tonight’s drawing surpassed the $800 million mark.
According to the Powerball official website, Saturday night’s prize reached $825 million. If someone hits the jackpot tonight, they will be paid $825 million in a total of 30 annual installments over the next 29 years. If the potential winner opts for a one-time cash payment, they will “only” receive $410.2 million.
The odds of winning the jackpot are one in 292.2 million. Such odds make winning the jackpot almost impossible, which in turn allows the grand prize to grow so large.
History has shown that jackpot winners have chosen the cash-in option most of the time. It’s worth noting that all jackpot winnings are taxable. While the federal tax is mandatory, most states have imposed a lottery winnings state tax too.
Powerball is played in 45 states, as well as Washington, D.C., Puerto Rico and the U.S. Virgin Islands.
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