Powerball Jackpot Hits KSh 57 Billion Cash Prize to Be Won
- The Powerball Jackpot offers a huge payout, offering a life-changing opportunity, and the prize keeps rising when one wins
- The multi-state lottery game has two cash payout options for winners, but taxes lead to a smaller payout
- Mega Millions made some adjustments earlier this year that slightly increased the chances of winning the jackpot
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TUKO.co.ke journalist Japhet Ruto has over eight years of experience in financial, business, and technology reporting and offers deep insights into Kenyan and global economic trends.
Following Monday, August 4, night's drawing, where no ticket matched six numbers, the US Powerball jackpot has increased to $449 million (KSh 57 billion), the second-largest of 2025.
Source: Getty Images
However, when taxes are deducted, the ultimate winner will receive a smaller payout.
Monday night's six draws featured a red Powerball 21, 8, 9, 19, 31, and 38 numbers.
How much will the winner take home?
According to Forbes, if a winner is selected in the subsequent draw, they will have the option of receiving the $449 million in 30 yearly payments or the $203.9 million (KSh 26.3 billion) cash payout, which is typically the more popular option.
If the winner selects the cash payout option, a 24% federal tax will be imposed, reducing the prize to $155 million (KSh 20 billion).
Depending on their taxable income, the winner may subsequently be subject to a federal marginal rate of up to 37%, which would further reduce their earnings to $128.4 million (KSh 16.6 billion).
On the other hand, the winner's yearly payments of around $14.97 million (KSh 1.93 billion) would decrease to $9.43 million (KSh 1.23 billion) if they choose the instalment plan.
Since lottery wins are taxed at 10.9% in some jurisdictions (like New York) but not in others (like Texas, Florida, and California), the winner may also be subject to additional taxes from their home state.
Source: Getty Images
What are the chances of winning?
To win the jackpot, a Powerball ticket buyer must overcome odds of 1 in 292.2 million.
The Powerball jackpot odds are slightly less favourable than the Mega Millions jackpot odds of 1 in 290.4 million.
Mega Millions made some adjustments earlier this year that marginally increased the chances of winning the jackpot from 1 in 302.6 million.
The Powerball prize will be drawn again on Wednesday evening, August 6.
How is Powerball compared to SportPesa?
Both the SportPesa Mega Jackpot and the US Powerball Jackpot offer life-changing payouts, but they differ greatly in terms of their structure, odds, cost, and reach.
Powerball is a multi-state lottery game that is played in the US Virgin Islands, Puerto Rico, Washington, D.C., and 45 states.
SportPesa is a football-focused betting site in Kenya that offers the SportPesa jackpot.
Who won the SportPesa jackpot?
In related news, after correctly predicting 17 games under the SportPesa jackpot, a Kenyan man joined the millionaires club.
Bonnie Kamau won an incredible KSh 424,660,618 for accurately predicting every match.
The games were played on Sunday, August 3, according to SportPesa, which also revealed the winner.
Other SportPesa winners included Samuel Abisai, who won KSh 221 million and Gordon Ogada, who took home KSh 230 million.
Proofreading by Mercy Nyambura, copy editor at TUKO.co.ke.
Source: TUKO.co.ke
