Powerball Jackpot For Wednesday Is $1.09B: What To Know In NY

HUDSON VALLEY, NY — Wednesday night’s Powerball jackpot has climbed to $1.09 billion, which is just under the recently claimed winning Mega Millions ticket of $1.13 billion.

No tickets matched all the numbers in Monday night’s Powerball drawing, making Wednesday’s jackpot the ninth-largest in United States lottery jackpot history.

The last grand prize for Powerball was won in January.

New York players must purchase their Powerball tickets by 10 p.m. in order to be eligible for Wednesday’s drawing at 10:59 p.m. ET.

The jackpot prizes in each game may be paid over 30 years, but most winners take the lump sum. They immediately see fewer dollars flow into their account than if they took the 30-year annuity because the federal government takes its cut off the top.

All but eight states — California, Florida, New Hampshire, South Dakota, Tennessee, Texas, Washington and Wyoming — also tax big lottery prizes. In New York, the lottery tax rate is 8.82 percent.

The odds of winning the Powerball jackpot are steep — about 1 in 292.2 million. For perspective, the odds of being struck by lightning are less than 1 in 1 million.