The Powerball jackpot is now $1.3 billion, the game's fourth-largest prize. Most people still buy tickets in person, but lottery apps could change that as more states approve online purchases. The winner can choose a lump sum of $608.9 million or an annuity worth $1.3 billion, both of which are pretax estimates. The next drawing is Saturday at 10:59 p.m. ET.
The Mega Millions jackpot has reached $1.1 billion, but the winner could face challenges if they aren't prepared. They must choose between a lump sum or annuity payout, both of which are subject to taxes. Additionally, claiming the prize via a trust or LLC and creating a written agreement when pooling money are important considerations to protect the winner's privacy and avoid legal disputes.
