Lottery

Powerball jackpot jumps to $725 million after no winning ticket drawn Monday

The new jackpot ranks as the seventh-largest in Powerball history and ninth-largest in U.S. lottery history

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The Powerball jackpot climbed to $725 million after no ticket matched all six numbers drawn Monday.

Monday's winning numbers were 2-24-34-53-58 and a red Powerball 13.

The new jackpot ranks as the seventh-largest in Powerball history and ninth-largest in U.S. lottery history.

The $725 million prize is for winners who choose to take their riches through an annuity, paid annually over 29 years. Nearly all winners opt for a lump-sum cash value, which is currently estimated at $366.2 million.

Those winnings also would be subject to 24% federal tax withholdings plus another 13% since the winnings push you into the top federal income tax bracket of 37%, CNBC reports. Many states tax lottery winnings, too.

No one has won the Powerball since April 19, when a ticket in Ohio matched all five white balls and the red Powerball to win $252.6 million. That's 35 consecutive draws without a jackpot winner. The winless streak is due to the abysmal odds of winning: one in 292.2 million.

The longer the game goes without a grand prize winner, the larger the payout will grow. And with huge jackpots becoming increasingly common in lottery drawings — with six grand prizes between Powerball and Mega Millions surpassing $1 billion since 2016 — this latest Powerball streak could very likely become the seventh.

The largest lottery jackpot in U.S. history stands at $2.04 billion and was won by a single Powerball ticket in California on Nov. 7, 2022

Powerball is played in 45 states, the District of Columbia and Puerto Rico. It costs $2 to play.

Drawings are held each Monday, Wednesday and Saturday at 10:59 p.m. ET.

Powerball is played in 45 states, as well as Washington, D.C., Puerto Rico and the U.S. Virgin Islands.

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