By Todd Northrop
Less than 24 hours after lottery officials were forced to raise the Wednesday Powerball jackpot estimate, they have done it again — now to $500 million.
The current jackpot is the third-largest in Powerball history and the fifth-largest jackpot of any lottery game in U.S. history.
It is only the fifth time in history that lottery players have been able to play for a half-billion dollars. It could all go to one person.
The new estimated lump-sum cash value of the jackpot is $337.8 million.
Early Sunday morning, around 5:25 am Eastern Time, USA Mega announced the new record Powerball jackpot of $450 million after nobody won in the Saturday evening drawing. Then, on Tuesday afternoon lottery officials raised the jackpot estimate to $485 million on bigger-than-expected sales.
Now, less than 24 hours later, the jackpot estimate for Wednesday's Powerball drawing has been raised yet again to $500 million, with a lump-sum cash option of $337.8 million.
That's an increase of $105.5 million from the Wednesday jackpot of $394.5 million. And yet, the jackpot will probably be even higher by the time the drawing occurs at 10:59 pm Eastern Time (7:59 pm Pacific Time) tonight.
Surely, tickets are being sold at such a rapid pace that many of the possible number combinations are being covered — multiple times for some combinations — but one still has to ask: what if just one person wins $337.8 million in cash? It's hard for most people to even picture a number that large, let alone manage that much cash.
Perhaps more interesting to imagine is, what if nobody wins Wednesday?
Lottery players seeking to check the winning numbers Wednesday night are urged to use USA Mega (www.usamega.com). State lottery Web sites are normally brought to a standstill during busy periods, while USA Mega normally remains responsive.
Powerball drawing results will be posted immediately after the 10:59 pm drawing at USA Mega. The number of winners and new jackpot will be announced after all participating Powerball states have reported their data, which normally occurs within a couple of hours after the drawing.
Tickets will remain on sale typically until 10:45 pm Eastern Time on Saturday, although players should check with a lottery retailer in their state for the exact sales cutoff time. Players are advised not to wait until the last minute.
The odds of winning the jackpot are approximately 1 in 175 million. The odds of winning any of the Powerball prizes are approximately 1 in 32.
Lottery players can see an after-tax analysis of the current Powerball jackpot by visiting USA Mega's Jackpot Analysis page.
Powerball features nine different prize levels, ranging from $4 all the way up to the jackpot. Players can win even if they just match one number — the Powerball number.
States also offer the Power Play option for an extra dollar per ticket purchased. The Power Play multiplies any non-jackpot prizes won by a fixed amount, depending on the prize level won.
Players who purchase the Power Play and win second prize will automatically have their prize increased by 2x to $2 million.
MINE
Just over 253,000,000 dollar bills after tax, that's a lot of shoe boxes to fill.
I'd have no problem picking 4 other family members to share the ticket with at this amount (heck, even if there were another winning ticket).
I love Todd's choice of words. Lottery officials were FORCED - lol.
Keep rolling baby!
I have my vision and my plan for this money.
Holy Moly. Have two tickets ready. All it takes is one. Good luck everyone.
12 26 33 50 55 /19
16 22 34 41 57 /24
Well, we knew this was coming. Found a shiny new penny heads up in a store parking lot yesterday so had to buy some PB tickets. First time for me as I usually dont bother with pick 6 games. You never know,lol.
This is not news. It is nothing more than a ploy to get a lot of people spun up over nothing. Only Uncle Sam, the eventual winning ticket holder(s), and their advisors care about the jackpot amount. I play the same whether it is $40 million or $500 million. I just give myself a chance every drawing.
1, 3, 7, 9, 38, 1
1, 2, 3, 4, 5, 6
fat chance in hell numbers
Massive head-spinning sum there. I'd love to win just like everyone playing
Hi guys, can someone who is watching the results of the powerball live on tv can post the numbers on my facebook page ?
USA Mega - the sister website to Lottery Post is your best option for getting the results very quickly
As is written elsewhere on these forums, the numbers on the balls are meaningless to which get sucked up. 1,2,3,4,5 and 6 are just as possible as the previous winning numbers.
But yea, news sites would crash and social sites would burn with the attention those numbers would bring if they ended up being drawn.
I mean im in Europe and I will not stay awake till 5am for the results that is why i am looking for someone to post the results live on my facebook page.
Then just wait till you are awake in the morning to check it.
Whooo. Pay off my students loans from my Master's degree, new car and pay my family's debt.
Nope I want to give the followers of my facebook page in the US a live result... so im looking for someone from US who can post.
This is what 205 million looks like
Now you have to play those two combos because if you don't and someone else does, you'll feel sick if they get drawn. I might play them
Nah I'm good
$500 million Woo Hoo!!!!!
It's coming home to daddy tonight!!
I have my 5 chances to win already. Good Luck everyone. (c8
I still predict 520 Million or higher by drawing time.
Any mathematician out there? What are the chances of a roll over?
Does anyone no what all taxes owe... is it just federal for 39.6%. my state of ohio for 4% to 5.33%... is there your local city tax too or just them two taxes n not city, medicare, and oasdi as well
just federal and state taxes. also as far as federal it's 25% off the top for lottery winnings.
The 25% federal tax is not complete. You are correct to view your federal bill as 39% of your winning. Plus state tax. Do the math that way and you will not have shock when they come for a bigger slice of the pie.
I thought Lady Luck was still in rehab
she will be when a 24 years young gentlemen wins it.
It depends on how many tickets are sold when it's all over and done with. I'm assuming that MUSL has a decent handle on it by now, but are being deliberately conservative. I'll guess that it will definitely reach 510 or so, and maybe a good bit higher. These numbers have been rounded a bit, but are fairly close:
500 53%
525 46%
550 39%
575 33%
600 29%
go read the federal tax form the default tax they remove off the top is 25% not 39%. i did not say you would not owe the other 14% later when you file at end of year.
Thanks!
Please PM me if you are interested to post the results live on my facebook page. It may bring you LUCK as well !
There was a line at grocery store today, bought mine out of the machine, no line.. i've thinking it will be $542,000,000.00 by 11:00 tonight.....lets go bucks...
I got winning ticket! Yessssssssssssss!!!!!!!!!!!
should be a most curious night tonight ......
best of luck to all playing and may it be one of us
preferably me
I wrote a play about my life in the NYC Dept. Of Sanitation called "The Sanitation Chronicles." If I win i'll produce and star in the movie version.
I betcha when (I said WHEN, not IF) somebody wins from New York or California, some of you will be right back here on the boards to whine about it. Just sayin'.
okay easygoing123 has 542, KY Floyd said 510, I have 520 anyone else want to throw out a number to see who gets closest without going over?(price is right) HEHE (c8.
I always see news stories of major long lines and big waits for tickets when a JP gets this large. I must live in a state with a huge amount of lottery vendors. I've never had more than 1 person in line ahead of me at a lottery terminal no matter how big the JP gets.
Some one is always whining on this forum about the winners no matter which state they are from. A couple of days ago someone was still whining about Jack Whittaker of West Virginia winning the PB jackpot tens years ago. Fact is people who have not posted on this forum join up just to whine.
I want to win.
America's favorite lottery is played in 44 States, Washington D.C., Puerto Rico, and the US Virgin Islands. Play Powerball, It's America's Game! www.powerball.com
Wondering which state will be the first lucky winner of 2015? Wonder how many states have never won a Jackpot yet in all the years playing? excluding Nevada, Utah, Alabama and Mississippi don't even play powerball. Gambling States I guess why they don't play!
Yes, mrlottojackpot, your research is correct. Some folks may also owe that "city/municipal tax rate" and all residents owe the 'highest tax bracket charged Medicare tax rate' (which I think is apx. 4%); which you also wrote of.
Good preparations you've been making!
rock_nc, I like your questions, above, and the way you're thinking!
Great numbers here,i've utilize a few of these over the years
(16,22, and the 51,50 etc.)
---
but tonight?
i also will be electing:
13,16,17,27,35 and mi Power# >>>>6
17,3,5,1,29 and mi Power# >>>>>39
21,22,27,51,and 50 and mi Power# >>>>18
44,41,25,28,11 and mi Power #>>>>>>>26
26,51,16,12,22,and mi Power#>>>>>>7
Good luck to you all!
There definitely should be a few "dozen winners,when over 100 million,and over
like 100 to 200 or more winners when over 200 million+500 million etc.al.,
because that is more fair and not just "1" or 2.
That is outlandish.
so i might grab a few quick pick too.
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Even 4 numbers or five is good,or 4 with the power ball of course
adios!
Thanks, Haveaball!
About $204,000,000 in the bank after all Federal Taxes & no State or Local Taxes here in PA!
I'm ready!
1 Winner
1 Ticket
They take 25% off top first to make sure you cant spend it all without getting there cut first. non-usa residents pay 30% off top plus state. after that you full tax bill of ur 39.6% is due because you will def make more than $406,751 for single tax fillers
I have been playing since i was 19 and have a good plan for diff size jackpots and always have a good idea on total taxes due so i know what i can spend and not owe anything besides sales tax on all my homes and lamborghini's. and i thought medicare tops is almost $8,000 no matter if you make a million or a billion. was just unsure if city and others get a cut to
And my wish is even if i dont won this one i like huge jackpots to go to one ticket
The only reason i can think of as to why they don't pull the whole 39.6% (capital gains rate) is so you can do things for write offs like charitable donations etc.
Old School Pa, is right today.ICAM...
My father,uncle,older brothers say same.
-I do not think it should be a "breakin'news story at all or even mention more than 1x,some newscast do it so much.
Has to be to upsell,and i don't like that.
I got mine all chosen already...
i've chose mi numero's,but will add few quick pick.
Or not sure,i might not even bother,lol then again i most likely buy a few definite quick picks later.
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IMO when the lotto reach this high?
it should be mandated,that multiple winners, i.e, over "100 mill.. that should be law imho! LOL
seriously.
why only 1,that is SO UNFAIR,to many i see why most get mad over it...
or definitely over 200 million to up to 1 billion HUNDREDS OF WINNERS,that is only fair,maybe 1 day it will change.
adios.
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GOOD LUCK TO U ALL FINE PEOPLE PLAYING... i hope.."We all win,or some of us."lol
1 winner? talk about greedy..
You can always play the lottery in Cuba, China, North Korea or Russia. They have very special games. You play, win and don't ever get a prize. How sweet is that? No stress over how to spend the money.
Land of the free until the lottery jackpot goes over 100 million - Wtf!
I heard that! The only winners for sure is OLD Uncle Sam! They going to get theirs. I play every drawing also! weather it's 40 million or not! A 2 dollar ticket and a dream of winning! I hope there will be multiple winners! How can any one person manage that much money! Mind boggling to even think about that much! Would like to be the winner or one of the multiple winners. Wonder how many multiple winners there could be? I only remember 3 at one time! Could there be 4, 5 or even 10 multiple winners? Good Luck everyone!