The American dream is within reach for a lucky few, as the US Powerball jackpot has ballooned to an eye-watering $1.2 billion (£940 million). This colossal prize now stands as the seventh-largest payout in the game's history, creating a feverish buzz that's even crossing the Atlantic to hopeful players in the UK.
The winning numbers for this life-changing sum will be drawn on Wednesday night. However, the current jackpot soared after no ticket managed to match all six numbers in Saturday's draw. The numbers that eluded players were 19, 30, 37, 44, 46, and the crucial Powerball 22.
Can Britons Win the American Jackpot?
While the ticket is sold on American soil, all is not lost for UK enthusiasts. British residents can still participate by using third-party concierge services that legally purchase official tickets on their behalf. However, this route comes with significant caveats that every potential player must understand.
The Tax Trap for UK Winners
The biggest shock for a British winner wouldn't be the win itself, but the massive tax bill that follows. Unlike the UK's tax-free lottery wins, the US government slaps a hefty 30% federal tax withholding on prizes for non-residents. This immediate cut would reduce the $1.2 billion prize to roughly $840 million.
But it doesn't end there. The UK's HM Revenue & Customs (HMRC) would likely consider the winnings as "miscellaneous income", potentially subjecting it to additional income tax. This double-dip taxation could claim nearly half of the entire jackpot, a crucial consideration before buying a ticket.
How to Play and The Odds of Winning
To win the Powerball, players must match five white balls numbered 1 to 69 and one red Powerball numbered 1 to 26. The odds of achieving this are astronomically low, at a staggering 1 in 292.2 million.
For those undeterred by the odds, the next draw offers a choice: a $1.2 billion annuity paid out over 29 years, or a significantly smaller lump-sum cash option of an estimated $551.7 million, which is then subject to the aforementioned taxes.
A Landscape of Unclaimed Fortunes
This jackpot surge is part of a larger trend of massive unclaimed prizes. It follows a recent $1.3 billion Mega Millions win in New Jersey and a monumental $2.04 billion Powerball jackpot claimed in California in 2022. For now, the world watches and waits to see if the next billionaire will be made on Wednesday night.
