# Powerball jackpot reaches $674 million after no winner; cash option is $283.9 million before taxes The next drawing is Saturday after no ticket matched all six numbers Wednesday. A winner choosing cash would face $68.1 million in initial federal withholding, with possible additional federal and state tax. By The Signal Edition | U.S. / Lotteries Published: 2026-10-22T17:50:00Z Updated: 2026-10-22T17:50:00Z Canonical: https://www.thesignaledition.com/article/powerball-674-million-cash-after-taxes-1pa429m Image: https://www.thesignaledition.com/media/164ffa000105f760653c7ee9755b165b.jpg (Powerball drawing video for the winning numbers selected on October 21, 2026; credit: Powerball / YouTube) ## Summary - Saturday’s estimated jackpot is $674 million, with a $283.9 million cash option before taxes. - No ticket won Wednesday’s jackpot; the winning numbers were 1, 21, 44, 50, 57 and Powerball 5. - Federal lottery withholding is generally 24% on qualifying prizes, or about $68.1 million on the advertised cash option. - The withholding is not necessarily the winner’s final tax bill, and state or local taxes depend on jurisdiction. ## Jackpot rolls to $674 million The Powerball jackpot rose to an estimated $674 million for the Saturday, Oct. 24 drawing after no ticket matched all six numbers Wednesday night. Powerball lists the one-time cash option at $283.9 million before federal and any applicable jurisdictional taxes. The advertised jackpot is the value of the annuity, not the amount a cash-option winner would receive. [1](https://www.powerball.com/draw-result?date=2026-10-21&gc=powerball) [2](https://www.powerball.com/) [6](https://cbs12.com/news/local/powerball-jackpot-rises-to-674-million-saturday-drawing-after-no-winner-wednesday-284-million-cash-value-power-play-tickets-win-2-million-ohio-pennsylvania-wednesday-winning-numbers-1-21-44-50-57-powerball-5) Wednesday’s winning white balls were 1, 21, 44, 50 and 57, and the red Powerball was 5. The Power Play multiplier was 2X. Although there was no jackpot winner, two tickets sold in Ohio and Pennsylvania won $2 million each by matching the five white balls with Power Play, while a New Jersey ticket won $1 million. [1](https://www.powerball.com/draw-result?date=2026-10-21&gc=powerball) ## What federal withholding would remove If one winner takes the advertised $283.9 million cash option, the standard 24% federal withholding described by the Internal Revenue Service for qualifying lottery winnings would amount to $68.136 million. That would leave about $215.764 million at payout before any other required withholding or deductions. These figures use the current advertised cash estimate, which Powerball says remains an estimate until ticket sales are final. [3](https://www.irs.gov/instructions/iw2g) [5](https://www.powerball.com/faqs) The $215.8 million figure is not a guaranteed final take-home amount. The IRS treats lottery winnings as fully taxable income, and the initial 24% withheld may be less than the winner’s eventual federal income-tax liability. Filing status, other income, deductions and the rules of the jurisdiction where the ticket was bought can all affect the final bill. State and local lottery taxes also vary, so there is no single after-tax total that applies nationwide. [3](https://www.irs.gov/instructions/iw2g) [4](https://www.irs.gov/taxtopics/tc419) ## Cash versus annuity A U.S. jackpot winner may choose the cash value or an annuity consisting of 30 graduated payments over 29 years. The cash option represents the money in the jackpot prize pool needed at the time of the drawing to fund the annuity. Both advertised choices are stated before taxes, and a shared jackpot would be divided among all winning tickets. [2](https://www.powerball.com/) [5](https://www.powerball.com/faqs) The annuity does not produce a $674 million check on the day the prize is claimed. Instead, Powerball makes one immediate payment followed by 29 annual payments, with each payment increasing by 5%. Taxes generally apply as payments are received, while a cash-option winner recognizes the much larger lump sum at once. [2](https://www.powerball.com/) [4](https://www.irs.gov/taxtopics/tc419) [5](https://www.powerball.com/faqs) ## Next drawing and odds The next Powerball drawing is scheduled for Saturday at 10:59 p.m. Eastern time. A standard play costs $2 in most participating U.S. jurisdictions. The official jackpot odds are 1 in 292,201,338, while the overall odds of winning any prize are about 1 in 24.9. [2](https://www.powerball.com/) The jackpot has been building since a ticket sold in Illinois won $1.04 billion in the Aug. 12 drawing. If Saturday also produces no jackpot winner, the top prize will roll again; the next advertised estimate would depend on sales and the funds available to support the annuity. [5](https://www.powerball.com/faqs) [6](https://cbs12.com/news/local/powerball-jackpot-rises-to-674-million-saturday-drawing-after-no-winner-wednesday-284-million-cash-value-power-play-tickets-win-2-million-ohio-pennsylvania-wednesday-winning-numbers-1-21-44-50-57-powerball-5) ## Reporting sources 1. [Powerball: Powerball Draw Result — Wednesday, Oct. 21, 2026](https://www.powerball.com/draw-result?date=2026-10-21&gc=powerball) (2026-10-22) 2. [Powerball: Powerball home page and next drawing](https://www.powerball.com/) (2026-10-22) 3. [Internal Revenue Service: Instructions for Forms W-2G and 5754](https://www.irs.gov/instructions/iw2g) (2026-04-30) 4. [Internal Revenue Service: Topic No. 419, Gambling Income and Losses](https://www.irs.gov/taxtopics/tc419) (2026-10-22) 5. [Powerball: Powerball FAQs](https://www.powerball.com/faqs) (2026-10-22) 6. [CBS12: Powerball jackpot rises to $674 million after no winner Wednesday](https://cbs12.com/news/local/powerball-jackpot-rises-to-674-million-saturday-drawing-after-no-winner-wednesday-284-million-cash-value-power-play-tickets-win-2-million-ohio-pennsylvania-wednesday-winning-numbers-1-21-44-50-57-powerball-5) (2026-10-22)