10th-largest cash value in US history
By Todd Northrop
This week Powerball will be the hot ticket, currently featuring the largest lottery jackpot in the world.
The new high-water mark of $361 million for the current Powerball jackpot was achieved after no winning tickets were sold for Saturday night's $335.5 million grand prize.
The lump-sum cash payout value of Wednesday's Powerball jackpot is $250.3 million — the 10th-largest ever recorded in United States lottery history. (See top 25 annuity and cash values below.)
Players looking to calculate what they would receive after the initial federal and state tax withholdings can find it all pre-calculated for each Powerball jurisdiction on the Jackpot Analysis page at USA Mega, a web site devoted to the Powerball and Mega Millions multi-state lottery games.
Players should note that jackpot amounts are conservative estimates provided by the lotteries, and are often somewhat higher by the time the drawing occurs. For example, the original estimate for Saturday's drawing was $333 million, but by the time all the proceeds were counted just before draw-time, the jackpot had swelled to $335.5 million.
The mammoth prize is the result of 20 consecutive draws without a winner. The run-up started as a $40 million prize on May 11.
The winning numbers for Saturday, July 16, 2016 were 11, 17, 40, 50, and 62, with Powerball number 26. The Power Play number was 2.
Even though nobody won the jackpot Saturday, 4 lucky players matched the first 5 numbers for a $1,000,000 prize: 1 from Colorado, 1 from Iowa, 1 from Pennsylvania, and 1 from Virginia.
Only one of the second-prize winners purchased the Power Play option — the ticket sold in Iowa. 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. 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.
21 tickets matched four white numbers plus the Powerball and won $50,000. Of those tickets, 4 were purchased with the Power Play option, increasing the prize to $100,000, and 2 of the tickets were sold in California, where the prize was worth $35,359 this drawing.
Following the Saturday drawing, the Powerball annuity jackpot estimate was raised $25.5 million from its previous amount of $335.5 million. The cash value was raised by $11.5 million from its previous amount of $238.8 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 now played in 44 states, plus the District of Columbia, Puerto Rico, 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 tied for the 17th-largest lottery jackpot of all time in the United States. That position may rise before the drawing Wednesday night, as lotteries are typically conservative in their initial estimates, and brisk sales may push the jackpot estimate higher by draw time.
- Powerball: $1.5864 billion, Jan. 13, 2016 - California, Florida, Tennessee
- Mega Millions: $656 million, Mar. 30, 2012 - Illinois, Kansas, Maryland
- Mega Millions: $636 million, Dec. 17, 2013 - California, Georgia
- Powerball: $590.5 million, May 18, 2013 - Florida
- Powerball: $587.5 million, Nov. 28, 2012 - Arizona, Missouri
- Powerball: $564.1 million, Feb. 11, 2015 - North Carolina, Puerto Rico, Texas
- Mega Millions: $536 million, Jul. 8, 2016 - Indiana
- Powerball: $448.4 million, Aug. 7, 2013 - Minnesota, New Jersey (2)
- Powerball: $429.6 million, May 7, 2016 - New Jersey
- Powerball: $425.3 million, Feb. 19, 2014 - California
- Mega Millions: $414 million, Mar. 18, 2014 - Florida, Maryland
- Powerball: $399.4 million, Sep. 18, 2013 - South Carolina
- Mega Millions: $390 million, Mar. 6, 2007 - Georgia, New Jersey
- Mega Millions: $380 million, Jan. 4, 2011 - Idaho, Washington
- Powerball: $365 million, Feb. 18, 2006 - Nebraska
- The Big Game: $363 million, May 9, 2000 - Illinois, Michigan
- Powerball: $361 million, Jul. 20, 2016 - Preliminary estimate, not won yet
- Powerball: $340 million, Oct. 19, 2005 - Oregon
- Powerball: $338.3 million, Mar. 23, 2013 - New Jersey
- Powerball: $337 million, Aug. 15, 2012 - Michigan
- Powerball: $336.4 million, Feb. 11, 2012 - Rhode Island
- Mega Millions: $336 million, Aug. 28, 2009 - California, New York
- The Big Game: $331 million, Apr. 16, 2002 - Georgia, Illinois, New Jersey
- Mega Millions: $330 million, Aug. 31, 2007 - Maryland, New Jersey, Texas, Virginia
- Mega Millions: $321 million, Nov. 4, 2014 - New York
The number of jackpots in the top 25, by lottery game, are:
- Powerball: 14
- Mega Millions: 9
- 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 10th-largest cash value in U.S. history.
- Powerball: $983.5 million cash, Jan. 13, 2016 ($1.5864 billion annuity) - California, Florida, Tennessee
- Mega Millions: $471 million cash, Mar. 30, 2012 ($656 million annuity) - Illinois, Kansas, Maryland
- Powerball: $384.7 million cash, Nov. 28, 2012 ($587.5 million annuity) - Arizona, Missouri
- Powerball: $381.1 million cash, Feb. 11, 2015 ($564.1 million annuity) - North Carolina, Puerto Rico, Texas
- Mega Millions: $378 million cash, Jul. 8, 2016 ($536 million annuity) - Indiana
- Powerball: $370.9 million cash, May 18, 2013 ($590.5 million annuity) - Florida
- Mega Millions: $347.6 million cash, Dec. 17, 2013 ($636 million annuity) - California, Georgia
- Powerball: $284 million cash, May 7, 2016 ($429.6 million annuity) - New Jersey
- Powerball: $258.2 million cash, Aug. 7, 2013 ($448.4 million annuity) - Minnesota, New Jersey (2)
- Powerball: $250.3 million cash, Jul. 20, 2016 ($361 million annuity) - Preliminary estimate, not won yet
- Mega Millions: $240 million cash, Jan. 4, 2011 ($380 million annuity) - Idaho, Washington
- Mega Millions: $233.1 million cash, Mar. 6, 2007 ($390 million annuity) - Georgia, New Jersey
- Mega Millions: $230.9 million cash, Mar. 18, 2014 ($414 million annuity) - Florida, Maryland
- Powerball: $227.8 million cash, Feb. 19, 2014 ($425.3 million annuity) - California
- Powerball: $224.7 million cash, Aug. 15, 2012 ($337 million annuity) - Michigan
- Powerball: $223.3 million cash, Sep. 18, 2013 ($399.4 million annuity) - South Carolina
- Mega Millions: $214 million cash, Aug. 28, 2009 ($336 million annuity) - California, New York
- Powerball: $211 million cash, Mar. 23, 2013 ($338.3 million annuity) - New Jersey
- Powerball: $210 million cash, Feb. 11, 2012 ($336.4 million annuity) - Rhode Island
- Mega Millions: $202.9 million cash, Mar. 25, 2011 ($319 million annuity) - New York
- Mega Millions: $197.5 million cash, Nov. 4, 2014 ($321 million annuity) - New York
- Powerball: $197.4 million cash, Sep. 30, 2015 ($310.5 million annuity) - Michigan
- Mega Millions: $194.4 million cash, Aug. 31, 2007 ($330 million annuity) - Maryland, New Jersey, Texas, Virginia
- Powerball: $191.9 million cash, Mar. 2, 2016 ($291.4 million annuity) - Florida
- Mega Millions: $185 million cash, Nov. 15, 2005 ($315 million annuity) - California
The number of jackpot cash values in the top 25, by lottery game, are:
- Powerball: 14
- Mega Millions: 11
You have to be in it to win it!
I'm going to get my ticket tomorrow.
Good time now for me to win
$151,225,921.05 after taxes cash sounds GREAT.
Good luck everyone!
............Get your tickets.
Next stop VA for a Powerball winner....
Come on! Big money, big money, big money!
I'll have my ticket(s)
Good luck everyone
I'll take it! $$$$$
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I'll just take the one million minus the taxes. I'll be set with that.
Oh, and I didn't win anything from the tickets I bought last week.
Not 2 dollars, not one dollar, not a single luxury . . .
I have eight draws left on my advance play ticket. I am in it to win it. I am playing Quick Picks from the RNG here at Lottery Post.
Thank You, Todd, for the Top 25 lists. They bring back memories of past winners.
I hope that every LP member is prepared to win $151 million. A few will take the Annuity.
Getting my team together will take some time before I cash in. Legal, Financial, and a couple of other ducks to be lined up.
Instead of an LLC I may choose an FLP which is a Family Limited Partnership. Another LP Member has warned me about the IRS and its' view of using an LLC without a Company. I do not want to start off on a wrong foot where the IRS is involved.
would be nice ....... as VA is loooong overdue
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"Instead of an LLC . . . "
Music*,
Thank you for the insight.
Groppo
Thanks for the tip about LLC's. In KY you have to fill out some kind of form yearly, so I guess it can't be fictitious. Will have to investigate FLP. I'm curious about the many LLC winners on different lottery sites; perhaps they already owned some kind of business or company. We'll never know.
music*---$14 check from Mass. Lottery on Lucky 4 Life...something better than nothing. Still behind the 8 ball on that lottery. Not a single dollar from MM & PB so far and MM expires in less than five weeks. Just found the PB won and it goes to February 2017. One of these days...
Here is a website you may find useful. www.assetlawyer.com/what
I will definitely need professional advice when I decide on either LLC or FLP. Limited Liability Company or Family Limited Partnership.
If you got to www.treasurydirect.gov You can learn more about Treasury Bills, Notes, and Bonds. Their limits on how much you can invest per auction.
$151 million!! I hope all LP Members realize how much cash this will be. Sometimes you will lose rational thought after your discovery. Having a written plan will help you if that happens to you.
Past winners have become numb and speechless. Nausea might happen to you. Some of your friends may grab the ticket to look at it. Who will you contact and who will you not contact?
You may ask yourself,"Is this really happening to me?" Pinch yourself and prove that you are awake and not dreaming.