Powerball draws winning numbers for March 16, 2024

LOS ANGELES - Feeling lucky? The winning numbers for March 16th's jackpot have just been drawn. According to Powerball, the jackpot is estimated to be more than $623 million.

Powerball announced the winning numbers Saturday night and they are:

12, 23, 44, 57 and 61, and the Power Ball number is 5. The Power Play is 2x.

The next Powerball drawing is on Monday, March 18, at 8 p.m. PT. Both Powerball and Mega Millions are currently boasting jackpots of over $500 million. The jackpot for Tuesday's Mega Millions drawing is expected to be around $875 million.

RELATED: Mega Millions, Powerball lotteries have both soared to over half a billion dollars

California lottery players do have luck on their side when it comes to Powerball. All four of the largest Powerball jackpots ever were won in California, including the largest lottery jackpot in U.S. history, a $2.04 jackpot won in November 2022 by Edwin Castro.

RELATED: Edwin Castro identified as $2.04 billion Powerball jackpot winner

HOW MUCH DO YOU WIN AFTER TAXES?

One thing all lottery winners have to take into account is the fact that their prizes will be taxed.

So, how much do you really get after taxes?

It depends on a couple of factors: do you have to pay state taxes where you live? Will you take the lump sum payment or the annuity payout?

According to Powerball's website, those electing to take the annuity option are guaranteed to get 30 gradual payments over a 29-year period. 

RELATED: Powerball payout calculator: How much would you get after taxes if you won?