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New Jersey lottery player wins $50K as Powerball jackpot Reaches $363 Million for Monday

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New Jersey lottery player wins $50K as Powerball jackpot Reaches $363 Million for Monday

According to the New Jersey Lottery, a player in Passaic County won $50,000 in Saturday night’s Powerball.

A ticket sold at AL Supermart on Mountainview Boulevard in Wayne matched four white balls with the Powerball.

The winning numbers in the Saturday, Aug. 26 Powerball drawing were: 20, 22, 26, 28, 63 and the Powerball: 5. The Power Play was 3X.

Besides the $50K, 38,342 lottery players won an estimated $227,142 in prizes on Saturday ranging from $4 to $300, according to the NJ Lottery.

Every winner is subject to a mandatory 24% federal withholding tax on their winnings, classified as income. Additionally, they will likely owe an extra 13% in federal taxes when filing their tax returns, as the substantial winnings will place them in the top tax bracket of 37%.

Furthermore, state income taxes come into play, ranging from 2.9% to 10.9%, depending on the winner’s residence.

When is the next Powerball drawing?

There are three Powerball drawings a week – Monday, Wednesday, and Saturday at 10:59 p.m. Monday drawings were added in 2021.

There are two drums in Powerball. There are 69 white balls in one drum and 26 red balls in the other drum. The Powerball is the only red ball that will be drawn.

Each ticket has five numbers, which will be drawn from the first drum with white balls, and one Powerball number. There will be a drawing for the winning Powerball number from the second drum with the red balls.

Alternatively, you can use Quick Pick, which draws your Powerball numbers at random for you.

How Many Balls Do You Need to Win a Powerball Prize?

The red Powerball is the only number you need to pick correctly to winning the Powerball prize.

A $2 purchase of the Powerball alone will award you a $4 prize, meaning that you have one in 26 chances of doubling your investment (there are 26 red balls to choose from).

You must match all five white balls in any order, as well as the red Powerball, to win the Powerball Jackpot.

Here are all the Powerball payouts:

Basic Powerball Payouts:

  • 5 Correct White Balls and the Powerball winning numbers: Jackpot (starts at $40 million, has no upper limit)
  • 5 Correct White Balls, but no Powerball: $1,000,000
  • 4 Correct White Balls and the Powerball: $50,000
  • 4 Correct White Balls, but no Powerball: $100
  • 3 Correct White Balls and the Powerball: $100
  • 3 Correct White Balls, but no Powerball: $7
  • 2 Correct White Balls and the Powerball: $7
  • 1 Correct White Ball and the Powerball: $4
  • No White Balls, Just the Powerball: $4

Payouts for Powerball With PowerPlay:

  • 5 Correct White Balls and the Powerball: Jackpot
  • 5 Correct White Balls, but no Powerball: $2,000,000
  • 4 Correct White Balls and the Powerball: $100,000–$500,000*
  • 4 Correct White Balls, but no Powerball: $200–$1,000*
  • 3 Correct White Balls and the Powerball: $200–$1,000*
  • 3 Correct White Balls, but no Powerball: $14–$70*
  • 2 Correct White Balls and the Powerball: $14–$70*
  • 1 Correct White Ball and the Powerball: $8–$40*
  • No White Balls, Just the Powerball: $8–$40*

*The exact payout will depend on whether a 2X, 3X, 4X, 5X, or 10X multiplier was drawn at random. The 10X multiplier is available only when the jackpot is worth less than $150 million.

What was the biggest Powerball jackpot?

Here are the Top 10 jackpots since the Powerball lottery began in 1992:

  1. $1.586 billion, Jan. 13, 2016: Three winners in California, Florida, Tennessee
  2. $768.4 million, March 27, 2019: Won in Wisconsin
  3. $758.7 million, Aug. 23, 2017: Won in Massachusetts
  4. $730 million, Jan. 20, 2021: Won in Maryland
  5. $699.8 million, Oct. 4, 2021: Won in California
  6. $687.8 million, Oct. 27, 2018: Two winners in Iowa, New York
  7. $632.6 million, Jan. 5, 2022: Two winners in California, Wisconsin
  8. $590.5 million, May 18, 2013: Won in Florida
  9. $587.5 million, Nov. 28, 2012: Two winners in Arizona, Missouri
  10. $564.1 million, Feb. 11, 2015: Three winners in North Carolina, Puerto Rico, Texas

Arsi Mughal is a staff writer at CTN News, delivering insightful and engaging content on a wide range of topics. With a knack for clear and concise writing, he crafts articles that resonate with readers. Arsi's pieces are well-researched, informative, and presented in a straightforward manner, making complex subjects accessible to a broad audience. His writing style strikes the perfect balance between professionalism and casual approachability, ensuring an enjoyable reading experience.

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