4 Powerball tickets worth $50K sold in Georgia; jackpot continues to rise
Forms to pick numbers for Powerball are on display in a store on October 04, 2023 in Miami, Florida. (Photo by Joe Raedle/Getty Images)
While no players matched all six numbers in the Powerball jackpot, four people in Georgia are waking up Friday with a big win.
Wednesday night's winning numbers announced were: 9, 35, 54, 63, 64 and the Powerball 1.
Four people in Georgia matched four numbers and the Powerball - making them each $50,000 richer.
Players will next have a shot at the estimated $1.4-billion Powerball jackpot Saturday night in hopes of ending an 11-week stretch without a big winner. No matter how large the prize grows the odds stay the same.
It’s those odds of 1 in 292.2 million that make the jackpot so hard to win and that result in such giant prizes for the lucky player or players who manage to pick the game’s six winning numbers. The latest Powerball jackpot is the world’s seventh-largest lottery prize. The last time someone won the top prize was July 19.
How is the Powerball jackpot determined?
The jackpot is based on revenue from ticket sales, so the more people who play the game, the faster the top prize grows. However, even though the current jackpot is advertised as $1.4 billion, the lottery has less than half that amount available for the top prize. That’s why the cash prize — which most winners take — would be $643.7 million.
Players also can choose an annuity, in which that $643.7 million would be paid to a company that would guarantee a return over 30 years of $1.4 billion. If a winner dies before collecting all their money, the remainder would go to the winner’s estate.
How much are you taxed in Georgia?
State lotteries will immediately deduct 24% of jackpot winnings for federal taxes, and additional federal taxes may be required when filing federal tax returns. In Georgia, the state income tax of 5.75% is withheld from prizes of $5,000 or more.
Players who buy winning grand prize tickets in a state different from where they live will pay taxes based on where they bought the ticket.
The Associated Press contributed to this report.