Dreaming about what you will do if you win the $570 million Powerball jackpot? Grab your ticket and find out if you are the lottery’s newest millionaire. If you match all six numbers drawn on Saturday, January 6, consider yourself extremely lucky — the odds of winning the top prize in the popular lottery game is one in 292 million.
The second Powerball drawing of 2018 has created a frenzy. Hours before the drawing, long lines formed at lottery retailers where people plunked down $2 for a ticket that could turn out to be a huge return on a small investment.
Tonight’s drawing takes place at 10:59 p.m. ET. This post will be updated with the results right after the drawing, but if you want to watch the winning numbers drawn in real time, there are three ways to do that.
Update: The Powerball numbers for January 6 are 12-61-30-29-33 PB 26
TV: Per the official Powerball website, you can watch the drawing one of these local TV stations.
Online: Head over to WRAL to watch a live streaming video of the January 6 Powerball drawing.
Mobile: Download the free LotteryHub app for iPhone, iPad, or Android devices and watch the live broadcast wherever you are on Saturday night.
How much money will you take home if you win the jackpot?
Although you won’t get a check for the entire $570 million, you will get a sizable amount of money if you choose the lump sum payment option.
The cash value of the January 6 Powerball jackpot is $358.5 million. According to USA Mega, before lottery officials pay the winner, 25 percent is withheld for federal taxes. That takes the payout down to $268,875,000 — not a bad day’s pay.
Unfortunately, the size of your windfall will go down even more if you live in a state that taxes lottery winnings. The Washington Post reports that there are only ten states that don’t impose a tax on your windfall including California, Delaware, Florida, New Hampshire, Pennsylvania, South Dakota, Tennessee, Texas, Washington, and Wyoming. In addition, you won’t pay local tax if you win the lottery in Puerto Rico or the U.S. Virgin Island.
Powerball jackpot winners who opt to get their winnings over time can choose a 30-year annuity instead of the lump sum payout. The payments will still be taxed, but the 30 annual payments will be based on the $370 million jackpot. USA Mega reports that the payments will be approximately $19,000,000 per year before taxes.