Feeling lucky? Powerball jackpot reaches $590 million, Mega Millions hits $427 million texasnews
The Powerball jackpot has reached $590 million this week. If you're feeling lucky, now might be the time to test that luck.It's been growing since April, with 33 drawings since the Powerball jackpot was last hit. It may come close to breaking the top 10 jackpots, with number 10 at 590.5 million in Florida in 2013. The next Powerball drawing is on Saturday.
With an estimated cash value of $304.8 million, after paying federal taxes of $73,152,000 the Powerball winner will take home roughly $231,648,000 since Texas lottery winners don't pay a state tax on lottery winnings. If the winner took the annuity payments on the entire $590 million prize, they'll end up with more prize money in the long run.
Friday night's Mega Millions drawing is nothing to ignore at $427 million, with a $220.6 million cash value option. Saturday's Lotto Texas drawing is worth $7 million, with a $4.14 million cash value option.
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