Hoping to win the $80 million jackpot on Wednesday night? Check your ticket to see if you have the winning numbers for the July 22 drawing — match all six numbers and you will be able to take the day off tomorrow.
The live Powerball drawing takes place at approximately 11 p.m. ET on Wednesday night. The lottery results will be posted here shortly after the numbers are drawn, or you can watch the drawing live online or on any of these TV stations.
UPDATE: The winning Powerball numbers for July 22 are: 12, 31, 43, 44, 57 PB 11 Power Play 2
Tonight’s jackpot is $80 million, but if you win, the amount you take home will be much less. According to the Multi State Lottery Association, winners who chose a one-time lump sum payment will receive $49.5 million before federal and state taxes.
About 25 percent of the jackpot amount will be deducted from your check for federal taxes, but the amount your state takes will vary. The percentage varies by state, but if you live in a state that does not tax lottery winnings — California, Delaware, Florida, New Hampshire, South Dakota, Tennessee, Texas, Washington, or Wyoming — you won’t have to pay any state tax on the jackpot.
If you choose not to take the whole jackpot at once, a 30-year annuity based on the full jackpot of $80 is another option. Annual payments of $2,666,667 (before taxes) will be issued to the winner, with a cost of living increase of approximately 5 percent added into the 29 yearly checks after the initial payment is made.
Even if you don’t match all six numbers and win the Powerball jackpot, there’s always a chance that you will win a non-jackpot prize. There a eight different prizes in addition to the grand prize — how much you win depends on how many numbers you match.
- Match all five white balls – $1,000,000
- Match 4 white balls and the red Powerball — $10,000
- Match 4 white balls — $100
- Match 3 white balls and the red Powerball — $100
- Match 3 white balls — $7
- Match 2 white balls and the red Powerball — $7
- Match 1 white ball and the red Powerball — $4
- Match just the Powerball — $4
Lottery players who spend an extra $1 for the Powerplay option have the opportunity to multiply the amount of their non-jackpot prize by up to 5 times the amount.
Powerball drawings are held on Wednesdays and Saturdays at 10:59 p.m. ET. Tickets can be purchased for $2 each at lottery retailers in 44 States, Washington D.C., Puerto Rico, and the U.S. Virgin Islands. The cutoff time for buying a ticket varies, with some retailers selling tickets up until 10:45 p.m. ET and others cutting off sales an hour prior to the drawing.
[Image: William Thomas Cain / Getty Images News]