(NewsNation) — For the sixth time in its history, the Powerball jackpot has reached $1 billion ahead of its drawing Saturday night, in time for a lucky winner to celebrate their day off from work Labor Day weekend.
Powerball jackpot after-tax amount
If you take the one-time cash option, it’s worth around $453.1 million before taxes. Once Uncle Sam gets involved, that drops to $330.8 million. But that’s still not the take-home pay. The state where the winning ticket is bought will also tax it.
Only nine states don’t have additional lottery tax: California, Delaware, Florida, New Hampshire, South Dakota, Tennessee, Texas, Washington and Wyoming.
What can you buy with the $1B Powerball jackpot?
With nearly $331 million in cash, you can buy a small fleet of 737 planes, more than 30 private islands currently listed for sale in the Bahamas, 945 brand new Lamborghini Hurácan supercars, or a new Play Station 5 for every resident of Wyoming.
What are the odds of winning the $1B Powerball jackpot?
What are the odds of hitting it big? One in 292 million.
You are more likely to have a higher IQ than Albert Einstein, give birth to identical quadruplets or be struck by lightning twice.
Since Powerball was introduced in 1992, Indiana and Missouri have produced the most jackpot winners. Of the nine states that have had at least 15 jackpot winners, six have at least some of their residents in the Central Time Zone.
