Visit the Jackpot Analysis to see a breakdown of the current annuity and lump sum payouts and how federal and state taxes affect them. The estimated jackpot includes an annuity figure and the cash alternative if you would prefer to take it as a lump sum. If there are multiple winners, it is split between them. If you win the jackpot, the amount is the same no matter where you live or bought your ticket. The jackpot value is the same across all 48 jurisdictions where Powerball is played. The prize even garnered the attention of international gamblers, the lottery said, and hundreds of thousands of Australians reportedly bought tickets to enter Monday’s draw.Ĭorrection: An earlier version of this article misstated that nobody had won the jackpot and that the prize rolled over to $2.3 billion.The jackpot increases by $2 million per draw as a minimum, although it's typically a lot more in practice. The high demand caused issues with one lottery processing its sales and delayed the draw by several hours and caused some confusion in whether the jackpot had been won (initial reports wrongly suggested the jackpot had rolled over to $2.3 billion). The lottery said there have been numerous reports of residents from non-participating states-Utah, Nevada, Hawaii, Alaska and Alabama-traveling across state lines to enter. The stellar jackpot has encouraged even more people than usual to try their luck. The drawings are also live streamed online at. The drawing is set to broadcast live at 10:59 p.m. Wednesday’s Powerball jackpot has reset to an estimated $20 million. The lottery said this prize held the world record for the largest lottery jackpot. The prize was shared between three winners in California, Florida and Tennessee in January 2016. That’s the value of Powerball’s largest jackpot before Saturday’s prize grew to $1.6 billion. By comparison, the odds of being struck by lightning in a given year are less than 1 in 1 million, according to the CDC, and the odds of being attacked and killed by a shark are around 1 in 4.3 million, according to Florida Museum’s International Shark Attack File. The odds of winning the lottery are slim, around 1 in 292.2 million, according to Powerball. The jackpot marks the largest in the lottery’s history and the largest lottery prize in U.S. The Powerball had been drawn 41 times without a jackpot winner, the last of which was in August, the lottery said, a record for the longest run.
Huge jackpots are a feature, not a bug, of lottery design and the rules are structured to make it easier to win but harder to win big. The grand prizes up for grabs in lottery jackpots have soared in recent years. A winner opting for the annuity payment is set to receive around $68 million a year, though this would be reduced to around $43 million by federal taxes and could be cut further by state and city taxes depending on where the winner lives.
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