(NewsNation) — The Powerball jackpot has climbed again, reaching an estimated $1.4 billion after nobody picked the winning numbers in Monday’s drawing.
The latest drawing will mark the sixth time the Powerball jackpot has surpassed $1 billion, and the 13th time a jackpot, either Powerball or Mega Millions, has surpassed $1 billion.
As for the prize, the cash value estimates to be just a shade more than $634 million after the federal government takes its cut right off the top of the winnings.
Speaking of Powerball jackpot winnings, how much the very lucky winner brings home can depend on the state they play in. Winners have the option to receive their prize as an annuity, which is allocated in 30 graduated payments for nearly 30 years, or in a one-time payment.
Best states to take home the biggest jackpot
Wyoming, Texas, Washington, Tennessee, New Hampshire, California and Florida rank at the top for taking home the most money from the jackpot.
None of the states taxes lottery prizes, meaning a winner could collect $820 million over 30 payments.
For states with higher taxes, the total yearly payments could mean taking home less. However, a winner in Minnesota or Oregon could still secure close to $692 million. Winners from New Jersey, Washington, D.C., and New York can obtain nearly $680 million.
According to Powerball, the chances of winning the jackpot are one in 292 million.
Current Powerball jackpot is the fifth-largest ever
The current jackpot now stands as the fifth-largest in Powerball history, and the ninth-largest across both draw games. It sits just below the $1.326 billion Powerball jackpot won in Oregon last spring.
The other four largest jackpots ever include, $2.04 billion in 2022 (Powerball), $1.765 billion in 2023 (Powerball), $1.602 billion in 2023 (Mega Millions), and $1.586 billion in 2016 (Powerball).
Players hoping to win will get another shot at 10:59 p.m. ET Wednesday.
