Powerball jackpot rises to $663 million, second-largest lottery prize of 2026

Published Jul 28, 05:28 AM UTC

The Powerball jackpot has increased to $663 million after no ticket matched all six numbers in the July 27 drawing, making it the second-largest lottery prize of 2026 behind the $800 million Mega Millions jackpot. Winners can choose between 30 annual installments of $663 million or a one-time cash prize of $290.4 million. After mandatory 24% federal withholding and a potential 37% marginal tax rate, the cash prize would drop to approximately $182.9 million. State taxes vary, with some states like New York taxing at 10.9% and others like Texas, Florida, and California imposing no tax. For the first time, U.K. players are eligible, but they can only receive the prize as 30 annual payments, with the advertised jackpot at £352 million ($467.8 million). The next drawing is scheduled for Wednesday night, while the Mega Millions drawing for $800 million occurs Tuesday. The odds of winning the Powerball jackpot are 1 in 292.2 million.