Powerball Jackpot Grows to $635 Million After No Monday Winner
The Powerball jackpot continues to grow after no ticket matched all the winning numbers in Monday’s drawing. The estimated jackpot is now $635 million, with the next drawing scheduled for Wednesday.
If a Michigan player wins, the final payout will depend on whether they choose the annuity or the lump-sum cash option.
How Much Could a Michigan Winner Take Home?
According to USAMEGA, after estimated taxes, a Michigan winner could receive:
- Annuity option: Approximately $12.48 million annually, totaling $374.38 million over 30 payments.
- Cash option: An estimated $157.2 million in a one-time payment.
These figures represent estimated after-tax winnings and may vary depending on the winner’s individual tax situation.
Michigan’s Biggest Powerball Win
Michigan’s most recent Powerball jackpot win came on January 1, 2024. A Mid-Michigan lottery club claimed an incredible $842.4 million jackpot, the largest Powerball prize ever won in the state. The winning ticket was purchased in Grand Blanc.
Powerball Odds and Drawing Schedule
Powerball drawings take place every Monday, Wednesday, and Saturday at 10:59 p.m. ET.
However, winning the jackpot is extremely difficult. The odds of matching all the winning numbers are approximately 1 in 292.2 million. Mega Millions jackpot odds are also steep, at roughly 1 in 290 million.
Anyone experiencing gambling-related problems can call the National Problem Gambling Helpline at 1-800-GAMBLER or text 800GAM for support.
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