Topline
The Powerball jackpot rose to $719 million—the third biggest lottery prize of 2025 so far—after no tickets matched all six numbers drawn on Wednesday night, although the eventual winner will take home a much smaller payout after taxes and deductions
Key Facts
The six numbers drawn on Wednesday night were 7, 8, 15, 19, 28 and Red Powerball 3.
If a winner emerges in the next draw, they can choose between taking the $719 million prize split over 30 annual installments or a one-time cash payment of $333.3 million—the preferred choice for most winners.
If the lump-sum option is chosen, the winnings will first drop to around $253.3 million after a mandatory federal withholding of 24% 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 $210 million.
If the installment route is picked, the winner’s annual payments of around $24 million would fall to $15.1 million after the 37% federal marginal rate is applied.
Depending on their state of residence, 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 jackpot draw is set to take place on Saturday night.