WASHINGTON — A jackpot of $408 million was up for grabs in Wednesday’s Powerball drawing, the largest it’s grown since a massive $1.36 billion winner earlier this year.
The $408 million jackpot has a lump sum cash value of $196 million. That’s the option most winners take, as opposed to the full value paid out as an annuity.
Winning Powerball numbers for Wednesday, October 16
The winning numbers for Wednesday’s drawing were 4, 30, 39, 44, 60, Powerball 11.
If a winner matches all five numbers and the Powerball, they have the option to take the full jackpot paid out over 30 years, or a smaller cash payout. Winners almost always take the cash option.
Even with the smaller lump sum payout, federal taxes will eat into those winnings, and some states also tax big lottery prizes. Powerball is played in 45 states, as well as Washington, D.C., Puerto Rico and the U.S. Virgin Islands.
What are the odds of winning the Powerball?
The odds of winning the Powerball jackpot are one in 292.2 million.
When is the Powerball drawing?
The Powerball drawing takes place live at 10:59 p.m. Eastern every Monday, Wednesday and Saturday. Tickets, which cost $2 per play, are sold in 45 states, the District of Columbia, Puerto Rico and the U.S. Virgin Islands.
What are the largest Powerball jackpots?
- $2.04 Billion – Nov. 7, 2022 – CA
- $1.765 Billion – Oct. 11, 2023 – CA
- $1.586 Billion – Jan. 13, 2016 – CA, FL, TN
- $1.326 Billion – April 6, 2024 – OR
- $1.08 Billion – July 19, 2023 – CA
- $842.4 Million – January 1, 2024 – MI
- $768.4 Million – March 27, 2019 – WI
- $758.7 Million – Aug. 23, 2017 – MA
- $754.6 Million – Feb. 6, 2023 – WA
- $731.1 Million – Jan. 20, 2021 – MD