Winning numbers drawn for $638 million Powerball jackpot

$638 million Powerball drawing to be held

Feeling lucky? The highly-anticipated $638 million Powerball drawing will be held Christmas Day.

LOS ANGELES - Feeling lucky? The winning numbers for Powerball's highly-anticipated $638 million jackpot have been drawn on Christmas Day.

Powerball.net released the winning numbers, which were the following:

5, 12, 20, 24, 29 PB: 4, 2X

On Monday, it was revealed that no one got the six matching numbers needed to take home the jackpot prize.

Say, if you don't win the top prize, don't throw away your tickets just yet. Lottery players with multiple matching numbers can score a decent consolation prize. For example, a ticket with five matching numbers – which is worth $2 million – was sold in Orange County during the Dec. 25 drawing.

HOW MUCH DO YOU WIN AFTER TAXES?

There are 638 million reasons to dream, especially what you would do with the jackpot money. However, 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.