Chen suggests numbers larger than 31 (to avoid matching with anyone playing their birthday) or those found on the edges or corners of the ticket form. You can, however, select a combination of numbers that others will be less likely to choose. That means the exact combination of numbers pulled on Wednesday has the same chance of being drawn again on Saturday. All combinations have the same chance of winning, though, according to Rong Chen, Distinguished Professor and chair of the Department of Statistics in the School of Arts and Sciences at Rutgers University-New Brunswick. Lotto Numbers, a site that tracks Powerball statistics over time, did some digging: According to their research, the numbers 61, 32, 63, 21, and 69 are the five most frequently drawn numbers over the last seven years, though none of these numbers have been pulled in the last five Powerball drawings.īecause six numbers are drawn - five white balls and a red Powerball - you may be focused on landing the right combination. Still, research has shown that there may be some numbers that have been drawn more frequently than others. The $1.Powerball jackpot: Here’s where the most winning tickets have been sold Sign up now: Get smarter about your money and career with our weekly newsletter Update: This story has been updated to reflect that a winning lottery ticket for the Mega Millions' $1.337 billion jackpot has reportedly been sold in Illinois. That means hiring a team of advisors, potentially including a lawyer and financial and tax advisors. That's why experts typically advise against buying lottery tickets in states with higher income tax rates than your home state.įinancial experts are also adamant that if you ever win a major lottery jackpot, you should rely on the advice of professionals. If your home state has a higher income tax rate than the state where you bought your winning ticket, your overall state tax bill will likely reflect the higher of those two rates. If you buy your winning ticket outside of your home state, you'll likely be subject to the income tax rates of the state where you bought the ticket - and you'll have to list your winnings as taxable income in the state where you reside, too. By comparison, New York levies a tax rate of 8.82% on lottery winnings, and you might even pay an additional 3.8% in New York City. In Illinois, where the winning lottery ticket was sold, the current tax rate is 4.95%. States with relatively low individual income tax rates, which apply to lottery winnings, include North Dakota ( 2.9%), Pennsylvania ( 3.07%) and Indiana ( 3.23%). state, you'll be subject to some sort of state tax bill. states that doesn't have lottery sales - along with Alabama, Hawaii, Nevada and Utah. Alaska also doesn't have blanket income tax laws, but it's one of five U.S. If you live there, your lottery winnings will be considered income, but won't be additionally taxed beyond the federal rate. The other eight states on the list don't have blanket income tax laws at all. Lottery winnings in those two states aren't subject to California's 12.3% income tax rate or Delaware's 6.6% rate. In most of the U.S., lottery winnings are taxed like regular income - but that's not the case in California and Delaware. In these 10 states, you won't owe any state taxes on lottery winnings at all: Tax laws regarding income and lottery winnings vary from state to state, meaning the overall tax bill on your big lottery jackpot could be even higher depending on where you buy the winning ticket. The winner will also owe more when it's time to pay their annual taxes, since the top federal marginal tax rate is 37%.īut that's not all. If the current Mega Millions jackpot winner elects to take the roughly $780.5 million cash option - as opposed to receiving payments in an annuity over 30 years - they'll automatically get a federal tax bill of roughly $187.3 million. Lottery winnings come with a mandatory 24% federal tax withholding. Those wins are invariably followed close behind by a hefty tax bill.
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