8th-largest cash value in US history
By Todd Northrop
This week Powerball will be the hot ticket, featuring a lump-sum cash payout of nearly $300 million.
The new high-water mark of $422 million for the current Powerball annuity jackpot estimate was achieved after no winning tickets were sold for Saturday night's $391.1 million grand prize.
The lump-sum cash payout value of Wednesday's Powerball jackpot is $290 million — the 8th-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.
Pennsylvania players can mourn the loss of their state tax-free status, since Pennsylvania just made lottery prizes subject to the state's 3.07% income tax rate. (See Pennsylvania lottery winners now subject to state tax on prizes, Lottery Post, Jul. 20, 2016.)
The largest Powerball jackpot ever awarded was on January 13, 2016, when three tickets from California, Florida, and Tennessee shared a $1.6 billion grand prize. The Florida and Tennessee winners claimed their prizes quickly, but the California winner waited until last week to claim their share.
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 $390 million, but by the time all the proceeds were counted just before draw-time, the jackpot had swelled to $391.1 million.
Wednesday's mammoth prize is the result of 22 consecutive draws without a winner. The run-up started as a $40 million prize on May 11.
The winning numbers for Saturday, July 23, 2016 were 5, 7, 23, 35, and 39, with Powerball number 11. The Power Play number was 2.
In addition to the jackpot going unclaimed, the first five numbers were too challenging for even one ticket to match, so nobody won the second prize of $1 million.
The California prize pool for second prize was $1,160,469 this drawing, which would have been split by any players matching all five numbers in that state. 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.
43 tickets matched four white numbers plus the Powerball and won $50,000. Of those tickets, 5 were purchased with the Power Play option, increasing the prize to $100,000, and 4 of the tickets were sold in California, where the prize was worth $21,915 this drawing.
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.
Following the Saturday drawing, the Powerball annuity jackpot estimate was raised $30.9 million from its previous amount of $391.1 million. The cash value was raised by $19.7 million from its previous amount of $271.3 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, second-prize winners have their prizes automatically doubled to $2 million, while all other non-jackpot prizes are multiplied by the Power Play number drawn that evening. All prize payout amounts, including Power Play multipied prizes, 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 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 11th-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: $540 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
- Powerball: $422 million, Jul. 27, 2016 - Preliminary estimate, not won yet
- 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: $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 8th-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: $380.8 million cash, Jul. 8, 2016 ($540 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: $291 million cash, Jul. 27, 2016 ($422 million annuity) - Preliminary estimate, not won yet
- 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)
- 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
I want to win so I can say.....
Win (any amount) or lose, I'm still keeping my job.
Well now the JP should finally get some attention... Here we go
I'm ready Already!
One Ticket ........ One Winner!
$$$$$$
And again, no 2nd prize winner. There's something wrong with that!
JPs at this level should see more 2nd place winners... All that hype with the the matrix changes for both games and it's not happening consistently enough IMO.
time to toss away another $2 - 4 dollars into the green hole of no return
There was 24 million less tickets sold than when MM had a advertised $390 million jackpot (33,723,893 PB and 57,727,651 MM). But mathematically there should be at least two 5 + 0 winners.
I am surprised it only rose by $1 million before the draw.
At 23 draws to get just break the $400 million mark....people have really set their thresholds high before they jump in. Clearly that pocket trauma from the Jan 13th draw is still very fresh and raw for many (including myself)
Looking forward to sticking it to them at work....why work for others when you can be your own darn boss!!!!!
Your odds of hitting the jackpot are the same no matter how high or low the jackpot is.
I want it!
Me too!!!!!
WOOOOOOOO HOOOOOOOO
For last night's sales, 5% of the time there will be no 5+0 winner.
I am not ready to hop aboard the hype train yet. We're barely entering the 80th percentile and I am thinking it will be another 10 rollovers or so before I am interested. Greedy me
With no really high white ball numbers I thought there might be at least one jackpot winner and several 2nd prize winners. Strange times we're living in indeed.
Any bets on if it will hit 500 million by next drawing?
Following the TN winners advice are we D. How original how wonderful.
In addition to quitting work and enjoying life, I think some should be given to deserving charities.
The recent killing of the police officers here in Baton Rouge has inspired me if I win, I will give $1million to each of the funds set up for those officers' surviving families. I will also give to other organizations that help the families of fallen police officers.
These are troubled times we live in and the police are the thin blue line between order and anarchy.
Not trying to preach, just stating my view.
I wish everyone who is playing good luck.
On further consideration: A single or two way split. I could live off $200 mil. No problem.
That is truly a noble cause PrisonerSix.
Good luck this week!
has entertained the thought of donating the dozen purposely refurbished crown vics to the local PD here in VA
Thanks to NYC being the highest tax around, I would end up with about $151.3 mil before splitting with my brother. I could survive on 75 mil
Man I play every drawing regardless of how big or small it is. I'll split it with like 7people, for a drawing this big I don't care. Would love at least a 3 mill win. Anything over that and it's just icing on cake. That's why I play every drawing. Any jackpot is good to me.
I doubt we we see any acceleration until it gets to at least 650 million....even then, people may just wait until 800 million dollars.
I am sure that we are all waiting for a Lottery Post member winning the jackpot.
Good luck to all players!
Me Too! $$$$$$
Here in PA it will a little less at about $173,000,000
I'm able to buy tickets in a "Can't lose" state where I'm vacationing so this is exciting!
I hope your "Can't lose" State gives you the jackpot. Enjoy your vacation and tell us all about it when you get back. Especially when you win
I would like to thank our fearless leader Todd Northrop for placing this post.
I am sure that we will continue to see interesting threads till Wednesday night and beyond.
Thanks, I'm hoping for the JP of course, I've paid my dues so to say lol. No matter what I'm guaranteed $4 at least tho.
Thank you. We've had 2 funerals in the past 2 days and another tomorrow. Those officers all left behind wives and children, one being a new father. It's really very sad. I will be going out to get a newspaper soon, and will pick up my tickets then.
Sounds like someone purchased 26 tickets. One with each of the 26 Powerballs on it.
Only way to guarantee $4 win
Glad I've inspired someone today. I wish you good luck in the next drawing as well.
What a nice friendly thread!
Screw powerball. I'd done with that pos game forever. If I'm going to throw money away, it might as well be one buck per draw instead of two.
Are you giving up?.....don't.
The next draw might very well be you!!!!!
Best post by far. Truly reflects the pure unadulterated sentiments of genuine lottery players. Good Job.
Looks like someone just took out the political trash. Bravo!
The Chief bottle washer just washed this thread. THANKS CHIEF