ATLANTA — The lottery frenzy continues Wednesday as the Powerball jackpot reaches an estimated $1.73 billion. If you win, there’s a cash option of $756.6 million.
The winning numbers will be drawn live tonight on Channel 2 before WSB Tonight at 11 p.m.
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Wednesday’s jackpot is the second-largest in Powerball history behind the world-record $2.04 billion jackpot that a single-ticket in California won in Nov. 2022.
If no one wins Wednesday night, then the jackpot will roll over to Saturday night’s drawing where it could equal or top the $2.04 billion prize.
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Here’s what you need to know if you play the lottery in Georgia.
CAN I STAY ANONYMOUS IF I WIN THE LOTTERY?
Georgia is one of 11 states that allows lottery winners who win more than $250,000 to remain anonymous.
DO I NEED TO SIGN MY LOTTERY TICKET?
Georgia Lottery says it encourages players to sign their winning tickets. Therefore, if your ticket were lost or stolen, you may not be able to establish that you own the ticket.
HOW DO I CLAIM A LOTTERY PRIZE?
Georgia Lottery says any prizes less than $600 can be claimed at any of its retailers; however, prizes over $600 must be claimed at the lottery headquarters or district offices or mailed for the payment.
Winners of prizes more than $600 must fill out a winner claim form and have a valid government-issued photo ID with a Social Security card.
HOW LONG DO I HAVE TO COLLECT MY PRIZE?
In Georgia, winners who purchased their tickets online have 180 days to claim their prize. For winners who buy instant tickets, they only have 90 days from the expiration date to claim their prize.
HOW LONG WILL IT TAKE TO GET MY MONEY?
- Prizes of $601 - $249,999: claimed at GLC headquarters or district offices are generally paid the same day.
- Prizes up to $25,000: can also be claimed at the GLC Kiosks located at the Hartsfield-Jackson Atlanta International Airport and are generally paid the same day.
- Prizes of $250,000 to $499,999: winners should plan to arrive at GLC head-quarters or district offices by 4 p.m. for same day payment; winners who arrive after 4 p.m. will be paid the following business day.
- Prizes of $500,000 or more - are generally paid within 5-10 business days from the date of claim and are electronically deposited into your bank account.
ARE TAXES WITHELD?
Yes. All Georgia Lottery prizes are subject to applicable federal and state withholdings, and state and federal income taxes. The GLC reports to the IRS and Georgia Department of Revenue the names of winners of prizes above $600. Georgia state income tax of 5.75% and federal income tax of 24% are withheld from prizes of more than $5,000 at the time the prize is claimed. Additionally, the GLC is required to check for and deduct any outstanding child support payments for prizes of $2,500 and above and student loans and state taxes for prizes of $5,000 and above, net of wager or ticket cost.
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