(NEXSTAR) – The Powerball jackpot has, once again, reached the $1 billion mark after no ticket was able to match the winning numbers drawn earlier this week.

Hours after the drawing Monday night, game officials estimated the jackpot at $975 million, but further review bumped the grand prize up to the rare estimated value of $1 billion with a cash value of $422.3 million.

The current jackpot now ranks as the eighth-largest in Powerball history, just $80 million away from tying for the No. 7 spot:

$2.04 billion: Nov. 7, 2022; California

$1.817 billion: Dec. 24, 2025; Arkansas

$1.787 billion: Sept. 6, 2025; Missouri and Texas

$1.765 billion: Oct. 11, 2023; California

$1.586 billion: Jan. 13, 2016; California, Florida, Tennessee

$1.326 billion: April 6, 2024; Oregon

$1.08 billion: July 19, 2023; California

Est. $1 billion: Current

$842.4 million: Jan. 1, 2024; Michigan

$768.4 million: March 27, 2019; Wisconsin

It's also the 15th-largest jackpot across both Powerball and Mega Millions, edging out the $980 million Mega Millions prize won with a ticket sold in Georgia last fall.

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Should a Powerball player in the United States or the United Kingdom match the six winning numbers drawn on Wednesday, though, they'll be taking home far less than the advertised value.

Let's say you are holding the winning ticket after Wednesday's drawing. After you've established your team of experts and selected the best payout option for yourself, you'll go to claim your payout.

Right off the top, 24% is owed to the IRS, plus up to 37% in a federal marginal tax rate, according to USA Mega.

In the best-case scenario, you are in a state that does not have a lottery tax. In those states – California, Florida, New Hampshire, South Dakota, Tennessee, Texas, Washington and Wyoming – you could get about $631.3 million across all 30 annuitized payments, USA Mega's analysis shows. If you went for the cash option, you would take home about $272.9 million.

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Your full annuitized payout would only come in above $600 million in six other states, the report found. In any other state, your payout would range between $522.3 million in New York and $596.3 million in Kentucky.

The interactive map below shows what your take-home pay would be if you're lucky enough to win the $1 billion Powerball jackpot.

The map doesn't take into consideration that you may not be the only jackpot winner. Over the last year, three Powerball jackpots have been split by two tickets. Should that happen to you, your prize will be split in half.

Should you overcome the overwhelming odds, experts recommend keeping your victory a secret for as long as possible — something that may be impossible, depending on where you live. It's also encouraged that you build a team of experts around you, including a financial advisor, a tax advisor, and a lawyer.

Even if your Powerball ticket doesn't match the jackpot-winning numbers, it could be worth some money. Not including the jackpot, there are eight ways to win while playing Powerball, giving you a 1 in 24.87 chance of winning any money.

The next Powerball drawing is set for 10:59 p.m. ET on Wednesday. Powerball is played in 45 states, the District of Columbia, Puerto Rico, the U.S. Virgin Islands, and the United Kingdom. Tickets sold in the U.S. and its territories are $2 each.

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