How Big Is This Week's Powerball & Mega Millions Jackpot, Really?

The number in the headline isn't what a winner actually walks away with. Here's how the jackpot works, where to check today's real number, and what you'd actually take home.

Why does the jackpot keep growing?

Powerball and Mega Millions both run on a rollover system — if nobody matches all the numbers in a drawing, that prize money carries straight into the next one. String together enough drawings with no winner, and the jackpot snowballs into the multi-hundred-million (or billion-dollar) numbers you see in the news. As soon as someone wins, the next jackpot resets back down to the game's starting minimum (usually around $20 million).

The headline number isn't what winners actually take home

The "record jackpot" figure you see reported is the 30-year annuity value. Most winners instead choose the lump sum, which is only about 45-60% of that advertised number in present-day cash — and once taxes come out on top of that, the amount that actually lands in a winner's account often ends up closer to 40% of the headline figure.

In other words, the jackpot number alone can be seriously misleading. Plug in the advertised amount below and see what it actually translates to after tax.

How big have jackpots gotten before?

Curious what the biggest jackpots in history looked like once taxes were factored in? Take a look at the article linked below.

FAQ

Where can I check the current jackpot amount?

Powerball's jackpot is updated live at powerball.com, and Mega Millions' at megamillions.com. Both update shortly after each drawing (US Eastern Time).

Why does the jackpot amount change every drawing?

It's a rollover system — if nobody wins the top prize, that prize money carries over into the next drawing. The longer the streak without a winner, the bigger the jackpot grows.

Do winners actually receive the headline number?

No. The advertised figure is the 30-year annuity value. Most winners choose the lump sum instead, which is roughly 45-60% of that number — and taxes reduce it further from there.

This page is for informational purposes only and does not sell, resell, or broker lottery tickets. Jackpot amounts change in real time with every drawing — always confirm the current figure on the official lottery site.