The Powerball jackpot is now estimated to be at $251 million for Monday night’s drawing since none of the tickets matched all the six balls that won in the Saturday drawing. This means that a ticket holder who wins the jackpot will win the $251 million prize, which is an annuity prize awarded in annual payments spread over a period of 30 years. However, there is another option available for players who want their money immediately where they can take home an immediate payout of $106.6 million. Nonetheless, it should be noted that both these figures do not reflect the amount that the player would receive. This is because the Powerball jackpot winnings are taxable and therefore the winner needs to pay some income taxes, either federal taxes or state/local taxes depending on where the winner bought the ticket.
