Today's Powerball jackpot is $674,000,000 and the cash option is $283,900,000 — 42% of the headline. Federal tax at 37% takes $104,988,856 of that, leaving $178.9M in a state with no lottery tax, or about $148M in New York.
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What changed at the last draw
The most recent drawing was Oct 21, 2026. The numbers were 1 · 21 · 44 · 50 · 57 with Powerball 5 and a 2x Power Play. No ticket matched all six, so the jackpot rolled over to $674,000,000 for Sat, Oct 24, 2026.
Rollovers are why the cash value jumps in steps rather than drifting upward: each draw adds ticket sales and the pool is re-securitised at current rates.
Recent draws
| Draw date | Numbers | Powerball | Power Play |
|---|---|---|---|
| Oct 21, 2026 | 1 · 21 · 44 · 50 · 57 | 5 | 2x |
| Oct 19, 2026 | 8 · 31 · 32 · 42 · 48 | 23 | 4x |
| Oct 17, 2026 | 12 · 13 · 24 · 32 · 35 | 11 | 3x |
| Oct 14, 2026 | 3 · 34 · 37 · 42 · 46 | 20 | 3x |
| Oct 12, 2026 | 22 · 28 · 38 · 51 · 69 | 9 | 3x |
| Oct 10, 2026 | 1 · 4 · 19 · 33 · 51 | 15 | 2x |
| Oct 7, 2026 | 11 · 13 · 14 · 21 · 65 | 19 | 2x |
| Oct 5, 2026 | 16 · 23 · 32 · 36 · 54 | 9 | 2x |
Source: official Powerball results. For full history and prize breakdowns, see powerball.com.
How the cash value is calculated
Powerball does not keep $674,000,000 in a bank account. It keeps the cash value and buys a portfolio of Treasury-backed securities whose maturities line up with the 30 annuity payments. Those payments rise 5% a year, so the portfolio has to grow accordingly.
The advertised jackpot is what that portfolio will pay out in total, nominally, by year 30. The cash value is what the portfolio costs today. Higher interest rates mean cheaper funding, which means a bigger advertised number for the same cash — and a lower cash-to-jackpot ratio.
In 2026 the cash value has run between 41% and 46% of the advertised jackpot. Anyone quoting a fixed 50% or 52% is using numbers from a lower-rate era. Always use the live figure on this page.
What you would actually receive
| Step | No state tax | New York |
|---|---|---|
| Cash value | $283,900,000 | $283,900,000 |
| Federal withholding at payout (24%) | −$68,133,312 | −$68,133,312 |
| Cheque you receive | $215,766,688 | $215,766,688 |
| Federal balance due at filing | −$36,855,544 | −$36,855,544 |
| State tax at filing | $0 | −$30,943,879 |
| Net after everything | $178,899,944 | $147,956,065 |
The first cheque is not the last word. The 24% withheld is a deposit against a 37% bill, and the difference is due by the filing deadline — or earlier if you make an estimated payment.
Next drawing
Powerball draws on Monday, Wednesday and Saturday at 10:59 p.m. ET. The next drawing is Sat, Oct 24, 2026. Sales cut off one to two hours before the draw depending on the state, so the practical deadline is earlier than the drawing itself.
Questions
What is the Powerball cash payout today?
The cash value of the current $674,000,000 jackpot is $283,900,000, or about 42% of the advertised amount. That is the figure before tax. After the 37% federal rate a single filer in a no-tax state keeps roughly $178.9M.
How often does the cash value change?
Every draw. When nobody wins, the advertised jackpot is raised and the cash value is recalculated from the securities that would fund the annuity. The ratio between them moves with interest rates, which is why it is not a fixed percentage.
Why did the cash value drop even though the jackpot went up?
Because the two are linked by interest rates, not by a fixed multiplier. The advertised jackpot is the future value of 30 payments; the cash value is their present value. When rates rise, the same cash buys a larger advertised annuity, so the cash-to-jackpot ratio falls.
Is the cash payout the same as the lump sum?
Yes. “Cash value”, “cash option” and “lump sum” all mean the same thing: one payment now instead of 30 payments over 29 years. You cannot take both, and the advertised jackpot is not paid in addition to it.