$450 MILLION: Powerball lottery jackpot nears record

Feb 8, 2015, 7:11 am (153 comments)

Powerball

5th-largest US jackpot ever; 5th-largest cash value

By Todd Northrop

Mega jackpots are back!

2014 came and went as a year devoid of frenzy-inducing lottery jackpots, but 2015 is shaping up to be jackpot-chasers' dream.

Between now and Wednesday evening, anyone can walk into a store and buy a lottery ticket for a couple of bucks that has the potential of winning around a half-billion dollars.

An estimated $450 million, to put a finer point on it — but even that amount is likely to be far-exceeded by the time the Powerball drawing kicks off Wednesday evening.

That's because lotteries typically are very conservative in their initial jackpot estimates. But like we saw with Saturday's Powerball drawing, the initial estimate Thursday morning was $360 million, which grew to $380 million by Friday afternoon, and finally to $394.5 million by draw time Saturday night.

Seasoned lottery players keep an eye on the lump-sum cash value of the jackpot, and the initial estimate is just as eye-popping: $304.1 million. And likely to grow even bigger before Wednesday.

When compared against all lottery drawings conducted in United States lottery history, Wednesday's Powerball jackpot ranks 5th all-time, and the cash value also ranks as number 5 among all cash values in history. (See the top 25 United States annuity and cash value jackpots below.)

Of course, the big winner (or winners) will have to pay taxes on their prize, so USA Mega has a handy Jackpot Analysis page available to calculate the federal and state taxes that would be withheld upon the award of your nice big jackpot.

This is the largest Powerball jackpot since — well, since the largest Powerball jackpot of all time was awarded in the May 18, 2013, drawing.  A single lottery ticket, purchased by Gloria MacKenzie of Zephyrhills, Florida, won the entire $590.5 million grand prize.  (See Winner of record $590.5 million Powerball lottery jackpot announced, Lottery Post, June 5, 2013).

Wednesday's mammoth jackpot is the result of 20 consecutive draws without a winner.  The run-up started as a $40 million prize on December 3, 2014.

The winning numbers for Saturday, February 7, 2015 were 5, 10, 21, 34, and 58, with Powerball number 33.  The Power Play number was 5.

Even though nobody won the jackpot Saturday, 11 lucky players matched the first 5 numbers for a $1,000,000 prize: 2 from California, 2 from Florida, 1 from Louisiana, 1 from Massachusetts, 1 from Missouri, 2 from New York, 1 from Ohio, and 1 from Texas.

The two California second-prize winners each will be awarded $1,388,464, because California does not award fixed prizes. By law, California awards all prizes on a pari-mutuel basis, meaning the prizes will change each drawing based on the number of tickets sold and the number of tickets that won at each prize level.

Only one of the second-prize winners purchased the Power Play option — the ticket sold in Massachusetts.  Because that ticket was purchased with the Power Play option their second-prize win is automatically doubled to $2 million.  Power Play is not available in California, because the fixed nature of the prize increase offered in Power Play is not compatible with California's pari-mutuel payouts.

101 tickets matched four white numbers plus the Powerball and won $10,000.  Of those tickets, 11 were purchased with the Power Play option, increasing the prize to $50,000, and 10 of the tickets were sold in California, where the prize was worth $13,056 this drawing.

Following the Saturday drawing, the Powerball annuity jackpot estimate was raised $55.5 million from its previous amount of $394.5 million. The cash value was raised by $37.5 million from its previous amount of $266.6 million.

The next Powerball drawing will take place Wednesday night at 10:59 pm Eastern Time.

When a Powerball ticket is purchased with the Power Play option for an extra $1 per ticket, any non-jackpot prize is increased according to a fixed prize schedule, which can be found on the Powerball Drawing Detail page at USA Mega, as well as on the Powerball Prize Payouts page at Lottery Post.

Powerball is played in 44 states, plus the District of Columbia and the U.S. Virgin Islands.  Drawings are Wednesdays and Saturdays at 10:59 p.m. Eastern Time.  Tickets cost $2 each.

Powerball lottery results are published within minutes of the drawing at USA Mega (www.usamega.com).  The USA Mega Web site provides lottery players in-depth information about the United States's two biggest multi-state lottery games, Mega Millions and Powerball.

Top 25 United States lottery jackpots of all time

Wednesday's Powerball jackpot currently stands as the 5th-largest lottery jackpot of all time in the United States, and the 3rd-largest Powerball jackpot ever.  Brisk sales will almost certainly push the jackpot estimate higher by draw time.

If nobody wins Wednesday, it's anyone's guess how high it will go.

  1. Mega Millions: $656 million, Mar. 30, 2012 - Illinois, Kansas, Maryland
  2. Mega Millions: $648 million, Dec. 17, 2013 - California, Georgia
  3. Powerball: $590.5 million, May 18, 2013 - Florida
  4. Powerball: $587.5 million, Nov. 28, 2012 - Arizona, Missouri
  5. Powerball: $450 million, Feb. 11, 2015 - Preliminary estimate, not won yet
  6. Powerball: $448.4 million, Aug. 7, 2013 - Minnesota, New Jersey (2)
  7. Powerball: $425.3 million, Feb. 19, 2014 - California
  8. Mega Millions: $414 million, Mar. 18, 2014 - Florida, Maryland
  9. Powerball: $399.4 million, Sep. 18, 2013 - South Carolina
  10. Mega Millions: $390 million, Mar. 6, 2007 - Georgia, New Jersey
  11. Mega Millions: $380 million, Jan. 4, 2011 - Idaho, Washington
  12. Powerball: $365 million, Feb. 18, 2006 - Nebraska
  13. The Big Game: $363 million, May 9, 2000 - Illinois, Michigan
  14. Powerball: $340 million, Oct. 19, 2005 - Oregon
  15. Powerball: $338.3 million, Mar. 23, 2013 - New Jersey
  16. Powerball: $337 million, Aug. 15, 2012 - Michigan
  17. Powerball: $336.4 million, Feb. 11, 2012 - Rhode Island
  18. Mega Millions: $336 million, Aug. 28, 2009 - California, New York
  19. The Big Game: $331 million, Apr. 16, 2002 - Georgia, Illinois, New Jersey
  20. Mega Millions: $330 million, Aug. 31, 2007 - Maryland, New Jersey, Texas, Virginia
  21. Mega Millions: $326 million, Nov. 4, 2014 - New York
  22. Mega Millions: $319 million, Mar. 25, 2011 - New York
  23. Mega Millions: $315 million, Nov. 15, 2005 - California
  24. Powerball: $314.9 million, Dec. 25, 2002 - West Virgina
  25. Powerball: $314.3 million, Aug. 25, 2007 - Indiana

The number of jackpots in the top 25, by lottery game, are:

  • Powerball: 13
  • Mega Millions: 10
  • The Big Game: 2

The Big Game is the original name of Mega Millions, from the game's first drawing on Sep. 6, 1996 through May 14, 2002.  The name was changed to Mega Millions starting with the May 17, 2002 drawing.

Top 25 cash value jackpots

Since many lottery winners collect their winnings in cash, the lump-sum payout is an important measure of what a winning ticket could be worth.

Looking at the cash value, the upcoming Powerball jackpot ranks as the 5th-largest cash value in U.S. history.

  1. Mega Millions: $471 million cash, Mar. 30, 2012 ($656 million annuity) - Illinois, Kansas, Maryland
  2. Powerball: $384.7 million cash, Nov. 28, 2012 ($587.5 million annuity) - Arizona, Missouri
  3. Powerball: $370.9 million cash, May 18, 2013 ($590.5 million annuity) - Florida
  4. Mega Millions: $347.6 million cash, Dec. 17, 2013 ($648 million annuity) - California, Georgia
  5. Powerball: $304.1 million cash, Feb. 11, 2015 ($450 million annuity) - Preliminary estimate, not won yet
  6. Powerball: $258.2 million cash, Aug. 7, 2013 ($448.4 million annuity) - Minnesota, New Jersey (2)
  7. Mega Millions: $240 million cash, Jan. 4, 2011 ($380 million annuity) - Idaho, Washington
  8. Mega Millions: $233.1 million cash, Mar. 6, 2007 ($390 million annuity) - Georgia, New Jersey
  9. Mega Millions: $230.9 million cash, Mar. 18, 2014 ($414 million annuity) - Florida, Maryland
  10. Powerball: $227.8 million cash, Feb. 19, 2014 ($425.3 million annuity) - California
  11. Powerball: $224.7 million cash, Aug. 15, 2012 ($337 million annuity) - Michigan
  12. Powerball: $223.3 million cash, Sep. 18, 2013 ($399.4 million annuity) - South Carolina
  13. Mega Millions: $214 million cash, Aug. 28, 2009 ($336 million annuity) - California, New York
  14. Powerball: $211 million cash, Mar. 23, 2013 ($338.3 million annuity) - New Jersey
  15. Powerball: $210 million cash, Feb. 11, 2012 ($336.4 million annuity) - Rhode Island
  16. Mega Millions: $202.9 million cash, Mar. 25, 2011 ($319 million annuity) - New York
  17. Mega Millions: $197.5 million cash, Nov. 4, 2014 ($326 million annuity) - New York
  18. Mega Millions: $194.4 million cash, Aug. 31, 2007 ($330 million annuity) - Maryland, New Jersey, Texas, Virginia
  19. Mega Millions: $185 million cash, Nov. 15, 2005 ($315 million annuity) - California
  20. The Big Game: $180 million cash, May 9, 2000 ($363 million annuity) - Illinois, Michigan
  21. Mega Millions: $177.3 million cash, Jan. 16, 2015 ($270 million annuity) - Illinois
  22. Powerball: $177.3 million cash, Feb. 18, 2006 ($365 million annuity) - Nebraska
  23. Powerball: $170.5 million cash, Dec. 25, 2002 ($314.9 million annuity) - West Virginia
  24. Mega Millions: $168 million cash, July 2, 2004 ($294 million annuity) - Massachusetts
  25. Mega Millions: $167.7 million cash, Feb. 22, 2008 ($275 million annuity) - Georgia

The number of jackpot cash values in the top 25, by lottery game, are:

  • Mega Millions: 13
  • Powerball: 11
  • The Big Game: 1

Lottery Post Staff

Comments

hearsetrax's avatarhearsetrax

               

well things just got interesting

delS

A lot of lives will be changed by this, hopefully, a lot of good will be done. I suspect it will reach $475,000,000 by Wednesday..........

christina1992

i cant believe nobodies nnumbers matched. i had two in a row and off two numbers by one each. today il buy 3 tickets and two mega millions. doesnt matter what the jackpot is(: 

how many tickets are you going to buy? so many people are going play im just putting 6 dollars

dallascowboyfan's avatardallascowboyfan

$450 million Woo Hoo  Banana White Bounce Dance

Piaceri

PartyWhite BounceDanceHyperBananaParty

 

JACKPOT FEVER!!! WOOOOOOOOOOO!!!!!!!!!!!

 

Dang, when I finally went to bed last night, it was some winner in Brooklyn NY.

 

Come on Powerball! Wooooooooooo!!!!!!!!!

Bleudog101

Let's not forget Puerto Rico is in the mix now too, good luck everyone!!

alekk's avataralekk

oh man, had all the six numbers but on different tickets!!! Puke

 

so close!! cant believe no one won it

DELotteryPlyr's avatarDELotteryPlyr

The Jackpot analysis is really COOL!!! I already knew that Maryland was crazy in taxes from the people I know/work with but this chart PROVES it

If I hit in Delaware my cash prize is - $228,075,000 due to no state taxes on it!

Maryland appears to be tied with NY for the LOWEST - $ 201,466,250

so 28 mil more for me!! LOL! Green laugh

Bleudog101

I can see the coffers from Alabama, Mississippi, Nevada and Utah leaving to border states to play the lottery.  Didn't include the other two holdouts for obvious reasons...where could Hawaiian or Alaskan residents drive to?  lol

Erzulieredeyes's avatarErzulieredeyes

Quote: Originally posted by DELotteryPlyr on Feb 8, 2015

The Jackpot analysis is really COOL!!! I already knew that Maryland was crazy in taxes from the people I know/work with but this chart PROVES it

If I hit in Delaware my cash prize is - $228,075,000 due to no state taxes on it!

Maryland appears to be tied with NY for the LOWEST - $ 201,466,250

so 28 mil more for me!! LOL! Green laugh

Must be nice not to have State taxes taken out of the lottery win. With the extra $28 million left over, I'd go out and purchase my first starter house for $28Million ! LO L

 

J/K (Maybe). Big Smile

 

I'd like to think I would stay within $500,000-$2M max range at tops when I win. But I am sure I will exceed that easily with more than $200M in the bank.  :)

mypiemaster's avatarmypiemaster

11 millionaires were created this draw. What more can you ask for?. Maybe 20 millionaires next draw, including me as one of the winners. Let the fun begin!!!. Guitar

tgstx2's avatartgstx2

One of the 5 out of 5 winners came from a quick pick of a store right down the road that I use to go to all the time before starting to play the lotto. I guess I need to start going there and tap into that luck well =D

hearsetrax's avatarhearsetrax

Quote: Originally posted by Piaceri on Feb 8, 2015

PartyWhite BounceDanceHyperBananaParty

 

JACKPOT FEVER!!! WOOOOOOOOOOO!!!!!!!!!!!

 

Dang, when I finally went to bed last night, it was some winner in Brooklyn NY.

 

Come on Powerball! Wooooooooooo!!!!!!!!!

Green laughlooks like someone got into Miss Annie's cat nipp stash again

CDanaT's avatarCDanaT

Quote: Originally posted by DELotteryPlyr on Feb 8, 2015

The Jackpot analysis is really COOL!!! I already knew that Maryland was crazy in taxes from the people I know/work with but this chart PROVES it

If I hit in Delaware my cash prize is - $228,075,000 due to no state taxes on it!

Maryland appears to be tied with NY for the LOWEST - $ 201,466,250

so 28 mil more for me!! LOL! Green laugh

DE..... Don't to forget the tax taxes taken(25%) out are not the taxes you will owe in full. If the $304 million cash offer is taken, your Fed income tax rate is at 39.6%. That will leave you around $183 Mil & change if you live in a non income tax state(like TX). Course, you get to take any deductions to offset it...
Still not a bad haul on a $2 investment !!!

Piaceri

Quote: Originally posted by hearsetrax on Feb 8, 2015

Green laughlooks like someone got into Miss Annie's cat nipp stash again

annie

 

Miss Annie says "nobody touches my catnip stash"

gocart1's avatargocart1

Quote: Originally posted by hearsetrax on Feb 8, 2015

               

well things just got interesting

Yes it did..but it would be interesting to see if it rolled one last time..PartyUS FlagParty

PrinceRene

Is it hammer time yet? LOL

Teddi's avatarTeddi

I say it's going to be at ~$500 million come Wednesday, which pushes up the lump sum to ~$330 million. 

I downloaded the Intuit tax calculator app and plugged the numbers in (Got much different numbers from what I had gotten using the straight 39.6 & state deductions).

Based on the app, after the lottery takes it's 25% and the state takes it's 6%, I'd only have to pay an additional $45m in federal taxes next year (which will be much less after charity deductions)  which would leave me with a minimum of $184,000,000...net. 

That is an extremely beautiful number.Dance Happy dance!!

LottoMetro's avatarLottoMetro

Looks like I might buy a ticket for the next drawing. LOL

Technut's avatarTechnut

I got 1 number on 2 separate lines out of 5 tickets. BLNT (Better Luck Next Time)

dpoly1's avatardpoly1

Ima going to get my ticket!

Ah the simple pleasures of life .................

Theox-'s avatarTheox-

Quote: Originally posted by dpoly1 on Feb 8, 2015

Ima going to get my ticket!

Ah the simple pleasures of life .................

I don't think that counts as a simple pleasure.

ThatScaryChick's avatarThatScaryChick

Quote: Originally posted by LottoMetro on Feb 8, 2015

Looks like I might buy a ticket for the next drawing. LOL

Same but I'm wondering if I should splurge and get 2 tickets! Big Grin

THRIFTY's avatarTHRIFTY

 

$2 INVESTMENT WILL TURN INTO MILLIONS.

Original Bey's avatarOriginal Bey

Quote: Originally posted by THRIFTY on Feb 8, 2015

 

$2 INVESTMENT WILL TURN INTO MILLIONS.

Look at the sparkle in his eyes. He his having visions of the brand new Cadillac that will take him down south to his winter home on the beaches of Florida. (Over 65 and rich are required to have at least one Cadillac - FL State Law - lol)

Drenick1's avatarDrenick1

Quote: Originally posted by dpoly1 on Feb 8, 2015

Ima going to get my ticket!

Ah the simple pleasures of life .................

Wow! That is nice!

Drenick1's avatarDrenick1

Quote: Originally posted by THRIFTY on Feb 8, 2015

 

$2 INVESTMENT WILL TURN INTO MILLIONS.

Did you have any luck from last nights drawing? I got the usual goose egg.

dallascowboyfan's avatardallascowboyfan

Quote: Originally posted by Bleudog101 on Feb 8, 2015

I can see the coffers from Alabama, Mississippi, Nevada and Utah leaving to border states to play the lottery.  Didn't include the other two holdouts for obvious reasons...where could Hawaiian or Alaskan residents drive to?  lol

It took us two days to drive from Anchorage( Ft. Richardson) to Seattle we left Friday night and arrived Sunday night on our way to Ft. Stewart Ga.

jack27

We are all already know whats going to happen. As usual we are going to see and old lady or an old man or some rich folk who already have million of dollar came forward to claim the prize. Whoever dont know this before must be slow or something. I still believing the lottery was design to make the rich get richer and the poor people living at the bottom to get poorer.

Igamble's avatarIgamble

Its amazing that players put in an adittional  almost 60mil. $ (394.5 to 450mil) but  only 12mil out of the aditional 60mil  which is about 10%  made a real difference to only 112people total !! 12 got about 1mil each and 100 got 10grand each.

so this draw millions have played and only 112of them  won something significant.that's about 0.0005%winners of 10grand+5/0 match  for this draw if we put 5million players !!

the rest of them got fooled again  like me Wink,

Drenick1's avatarDrenick1

Quote: Originally posted by jack27 on Feb 8, 2015

We are all already know whats going to happen. As usual we are going to see and old lady or an old man or some rich folk who already have million of dollar came forward to claim the prize. Whoever dont know this before must be slow or something. I still believing the lottery was design to make the rich get richer and the poor people living at the bottom to get poorer.

Sounds like you've been couped up too long in that box of yours....Jack.

banter's avatarbanter

@jack27, this is true for the simple fact that those who can least afford to gamble/play the lottery are those that spend the most.  I'm not rich, or particularly what I would call well-off so, I only buy ONE ticket (usually with power-up option) per drawing when the jackpot gets BIG.  I can comfortably afford to lose (in probability) my $2-3 per ticket.  I do not, however, spend my whole paycheck or even a large(r) portion on the lottery.  That way lies madness.

I, like many, have a child to put through college somehow, not to mention I would like to be able to retire and not have to work well into my 70s-80s and beyond.  The lottery is just a fun 'what-if' for me - not a hope, necessity or habit.  Take care of your family & future first before spending money you may not have to spend, on what is essentially a pipe-dream for everyone but the winner.

Not preaching - everyone is individual and will do as they see fit.  Good luck to all of you and God bless each and everyone.

RJOh's avatarRJOh

Quote: Originally posted by Igamble on Feb 8, 2015

Its amazing that players put in an adittional  almost 60mil. $ (394.5 to 450mil) but  only 12mil out of the aditional 60mil  which is about 10%  made a real difference to only 112people total !! 12 got about 1mil each and 100 got 10grand each.

so this draw millions have played and only 112of them  won something significant.that's about 0.0005%winners of 10grand+5/0 match  for this draw if we put 5million players !!

the rest of them got fooled again  like me Wink,

Sounds like you've been playing a long time and not winning big so how could you have been fooled again?  Did you expect this time to be different? Unhappy

I'm in the same boat but the only thing that would surprise me is that I win a nice prize. Wink

Nino224's avatarNino224

Todd, what's your plan Thursday morning when you realize you have the only winning ticket?

  1. Lump sum or annuity?
  2. Who are you hiring? Lawyers, financial advisors, rabbi, judo coach?
  3. If your state doesn't allow anonymity, do you send a hired gun to collect or are you giving a press conference?
Theox-'s avatarTheox-

Pro Tip:

Buy your ticket(s) early. This 450 million jackpot is going to attract long lines at lottery retailers. There probably won't be too many people buying tickets today or tomorrow.

PrinceRene

Quote: Originally posted by Theox- on Feb 8, 2015

Pro Tip:

Buy your ticket(s) early. This 450 million jackpot is going to attract long lines at lottery retailers. There probably won't be too many people buying tickets today or tomorrow.

yeah get to the store early, you don't want to end up like this guy https://www.lotterypost.com/news/285551

"Canadian man loses $27 million lottery jackpot by 7 seconds"

easygoing123go

Let it roll, $600,000,000.00 is the number it will roll too.......Smile

majestic1070's avatarmajestic1070

My birthday is on the 11th of February so instead of a birthday bash I'm thinking of a lotto bash.

HaveABall's avatarHaveABall

It's best to make that a way-belated birthday bash, majestic1070, as it could take 45 days to receive the electronic transfer into your checking account, after you've officially claimed the win!

 Jack-in-the-Box

TnTicketlosers's avatarTnTicketlosers

My husband and I are spending the weekend in Kentucky next weekend,cant wait to play the Lottery.So excited.Wish us luck in another state....

RJOh's avatarRJOh

Quote: Originally posted by Theox- on Feb 8, 2015

Pro Tip:

Buy your ticket(s) early. This 450 million jackpot is going to attract long lines at lottery retailers. There probably won't be too many people buying tickets today or tomorrow.

Don't have to worry about that in my area, they is a lottery retailer for every 1500-2000 players.  Not like before PB was sold locally and I have to travel over the state line to buy a ticket.  Last night I bought my tickets about 9:50PM, ten minutes before cut-off time and I was the old customer at the drive-thur.

PrinceRene

Quote: Originally posted by RJOh on Feb 8, 2015

Don't have to worry about that in my area, they is a lottery retailer for every 1500-2000 players.  Not like before PB was sold locally and I have to travel over the state line to buy a ticket.  Last night I bought my tickets about 9:50PM, ten minutes before cut-off time and I was the old customer at the drive-thur.

"I was the old customer at the drive-thur."

Don't sell your self short, RJ. You're that old. Smile

rcbbuckeye's avatarrcbbuckeye

Quote: Originally posted by jack27 on Feb 8, 2015

We are all already know whats going to happen. As usual we are going to see and old lady or an old man or some rich folk who already have million of dollar came forward to claim the prize. Whoever dont know this before must be slow or something. I still believing the lottery was design to make the rich get richer and the poor people living at the bottom to get poorer.

WHEN you can explain how some mysterious lottery person can arrange for a rich old lady or old man win,and the lottery is designed to make the rich get richer and the poor get poorer, THEN you will have the credibility to make such a statement.

UNTIL such time, you are simply blowing smoke out your a$$.

lejardin's avatarlejardin

Quote: Originally posted by dpoly1 on Feb 8, 2015

Ima going to get my ticket!

Ah the simple pleasures of life .................

Dpoly now THAT is a gorgeous car.  Hmmmmmm may have to add a car to my planned one car and a truck thoughts.  White Bentley, how very pretty.  All it needs is to have a white interior.

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