Current Lottery Jackpots

Jackpot amounts on this page are updated hourly using official lottery data feeds. Powerball drawings occur Monday, Wednesday, and Saturday evenings, while Mega Millions drawings are Tuesday and Friday evenings. After each drawing, the next estimated jackpot is usually announced within a few hours.

The advertised jackpot is the total you would receive over 30 annual payments (the annuity option). The lump sum, also called the cash option, is the actual cash the lottery has on hand, typically about 55% of the advertised amount. For example, a $500 million advertised jackpot might have a lump sum value of roughly $275 million before taxes.

Federal taxes alone reduce your lump sum by 37% (the top marginal rate for large prizes). State taxes vary from 0% in states like Florida, Texas, and Wyoming to over 10% in states like New York and New Jersey. Combined, you can expect to take home roughly 40% to 63% of the lump sum depending on your state of residence.

There is no universal answer. The annuity pays more total money over 29 years and guards against overspending. The lump sum gives immediate access to invest, but after taxes you may keep only 40 to 60 cents of every dollar. Financial advisors generally suggest the lump sum for disciplined investors and the annuity for those who prefer guaranteed long-term income.

Yes. In most states, you can sell some or all of your remaining lottery annuity payments to a purchasing company like Catalina Structured Funding for an upfront lump sum. The process requires court approval and follows your state's structured settlement or lottery payment transfer laws. CSF handles all paperwork and court filings at no cost to you.

CSF purchases future lottery annuity payment streams from winners who chose the annuity option and now prefer a lump sum. We offer competitive rates, handle all legal requirements and court filings, and you never pay out of pocket. You can sell all or a portion of your remaining payments.

State income tax on lottery winnings ranges from 0% to over 10% depending on where you live. Nine states have no income tax at all (Alaska, Florida, Nevada, New Hampshire, South Dakota, Tennessee, Texas, Washington, Wyoming). Meanwhile, states like New York (10.9%), New Jersey (10.75%), and Oregon (9.9%) take a substantial additional cut on top of the 37% federal rate. Some states like California exempt lottery prizes from state income tax entirely.