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Powerball Drawing on August 4: Jackpot Hits $426 Million
“Your chances of winning the Powerball jackpot are 1 in 292 million.” That’s what experts say—but that doesn’t stop millions from playing. For the August 4 draw, the jackpot jumped to $426 million, grabbing attention across the country.
What Happened on August 4?
The winning numbers for the August 4 Powerball draw were: 8, 9, 19, 31, 38, and the red Powerball was 21. Nobody won the big jackpot, but one lucky person in Georgia matched five numbers and won $1 million.
Since no one hit the jackpot, the prize is now even bigger for the next draw on Wednesday, August 6 at 10:59 p.m. ET.
What Happens If You Win?
If you win the jackpot, you have two choices:
Take the full amount in yearly payments (called an annuity) spread out over 30 years.
Take a smaller amount all at once (called a lump sum). For this drawing, that lump sum was about $193.5 million before taxes.
But here’s the catch: Taxes take a big bite. The government automatically keeps 24%, and if you’re in a high tax bracket, you may owe up to 37% total. That means your final amount could be much less—maybe around $147 million after taxes.
Also, some states charge state tax on lottery winnings. Places like Texas, Florida, and California don’t, but others like New York take up to 10.9%.
What Are the Odds?
Let’s be real: the odds of winning the jackpot are 1 in 292 million. That’s about the same as being struck by lightning. But people still play. Why? Because, as one regular player said, “You know the odds are crazy, but it’s fun to dream.”
Even if you don’t win the jackpot, there are other prizes. You can win smaller amounts just by matching a few numbers. That’s what happened to the Georgia player who took home $1 million by matching five numbers.
What’s the Big Takeaway?
This drawing shows how Powerball keeps people coming back—even when the odds are tiny. And while $426 million sounds like a huge win, what you actually get depends on your payout choice and taxes.
A lottery official summed it up well: “It’s not just about winning—it’s about what you do after you win.”
Thinking of Playing?
If you bought a ticket, double-check your numbers. Even if you didn’t win big, you might have won a smaller prize. And if you’re curious about how much winners really take home, check out our simple lottery tax guide.
Just remember: the chances are slim—but hey, somebody’s got to win.
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