All times shown are
Eastern Time (GMT-5:00) | Home -> Forums -> Lottery News -> Powerball lottery jackpot climbs to $167 million Powerball lottery jackpot climbs to $167 million Powerball: Powerball lottery jackpot climbs to $167 millionThe jackpot in "America's Game" has reached its highest level in four months. Even though the Powerball lottery jackpot was not awarded Wednesday evening, 773,100 players across the nation won a total of more than $6.8 million in prizes. Because no one correctly matched all six numbers in Wednesday's drawing the jackpot will grow to an estimated $167 million. The cash option for the Saturday, October 1st drawing will be an estimated $83.1 million. The numbers drawn Wednesday night were 7, 22, 27, 48, 50 and the Powerball was 17. The Power Play multiplier was 2. Eight players in the states of Connecticut (2), Louisiana, Missouri, New Mexico (2), Pennsylvania, and South Carolina matched all 5 white balls and won $200,000. Two additional winners at this prize level also purchased the Power Play option for a total win of $400,000. Forty-eight players matched 4 white numbers plus the Powerball and won $10,000. Four additional players who won at this prize level also purchased the Power Play and had their $10,000 winnings multiplied by 2 to $20,000. More than 86,000 winning Powerball players multiplied their prizes by 2 Wednesday. They were able to do that by purchasing the Power Play option for one dollar. With Power Play you multiply your Powerball winnings from 2 to 5 times, except for the jackpot. At the beginning of each drawing a wheel is spun to select that night's multiplier. Players should carefully check their tickets after every draw. Even if there are no jackpot winners there are always tens of thousands of winners at other prize levels. Players purchased more than $31 million in tickets between Sunday and Wednesday night. The lotteries sold more than $2 billion in Powerball tickets in FY05. That translates into more than $600 million for worthwhile state projects. Lottery Post Staff We'd love to see your comments here! Register for a FREE membership — it takes just a few moments — and you'll be able to post comments here and on any of our forums. If you're already a member, you can Log In to post a comment. 20 comments. Last comment 7 years ago by .
United States
Member #380
June 5, 2002
11296 Posts
Offline
| | Posted: September 29, 2005, 9:42 am - IP Logged | |
I expected a bigger jump. If a single winner makes the wrong choice, they will win the largest annuity in US lottery history. | | |
New Member
United States Member #4475 April 21, 2004 21 Posts Offline | | Posted: September 29, 2005, 9:56 am - IP Logged | |
| New Mexico: 6% State Tax | - $334,000 |
|
| - $4,986,000 | | Your net per year: $3,841,000 |
| Your net payout: $57,339,000 | | After 30 payments: $115,230,000 |
|
Hmm, although I would definitely choose lump sum, ... $3,841,000 net per year is not that bad. I think I can live on that. 
man plans, GOD Laughs | | |
United States
Member #380
June 5, 2002
11296 Posts
Offline
| | Posted: September 29, 2005, 9:58 am - IP Logged | |
mt: The new PB annuity INCREASES each year. You probably did not figure that in your calculation. The lump sum is now more attractive than ever. | | |
New Member
United States Member #4475 April 21, 2004 21 Posts Offline | | Posted: September 29, 2005, 10:15 am - IP Logged | |
mt: The new PB annuity INCREASES each year. You probably did not figure that in your calculation. The lump sum is now more attractive than ever. Actually, I didn't make any calculations. All I did was "cut and paste" the information off the website at View: USA Mega — Powerball and Mega Millions Results and News But thanks for the info.... by the way, is there a site where it shows the annuity payout for each year? Just curious as to exactly how much the new PB annuity increases each year. 
| | |
United States Member #2441 September 28, 2003 143 Posts Offline | | Posted: September 29, 2005, 10:36 am - IP Logged | |
| New Mexico: 6% State Tax | - $334,000 |
|
| - $4,986,000 | | Your net per year: $3,841,000 |
| Your net payout: $57,339,000 | | After 30 payments: $115,230,000 |
|
Hmm, although I would definitely choose lump sum, ... $3,841,000 net per year is not that bad. I think I can live on that.
man plans, GOD Laughs New POWEBALL payout info based on a $30M jackpot. | Payment No. | Graduated Payments (Rounded) | % of Total Annuity Prize |
|---|
| 1 | $535,000 | 1.78300991336613% | | 2 | $556,000 | 1.85433030990078% | | 3 | $578,000 | 1.92850352229681% | | 4 | $601,000 | 2.00564366318868% | | 5 | $626,000 | 2.08586940971623% | | 6 | $651,000 | 2.16930418610488% | | 7 | $677,000 | 2.25607635354907% | | 8 | $704,000 | 2.34631940769104% | | 9 | $732,000 | 2.44017218399868% | | 10 | $761,000 | 2.53777907135862% | | 11 | $792,000 | 2.63929023421297% | | 12 | $823,000 | 2.74486184358149% | | 13 | $856,000 | 2.85465631732475% | | 14 | $891,000 | 2.96884257001774% | | 15 | $926,000 | 3.08759627281845% | | 16 | $963,000 | 3.21110012373119% | | 17 | $1,002,000 | 3.33954412868043% | | 18 | $1,042,000 | 3.47312589382765% | | 19 | $1,084,000 | 3.61205092958076% | | 20 | $1,127,000 | 3.75653296676399% | | 21 | $1,172,000 | 3.90679428543455% | | 22 | $1,219,000 | 4.06306605685193% | | 23 | $1,268,000 | 4.22558869912601% | | 24 | $1,319,000 | 4.39461224709105% | | 25 | $1,371,000 | 4.57039673697469% | | 26 | $1,426,000 | 4.75321260645368% | | 27 | $1,483,000 | 4.94334111071182% | | 28 | $1,543,000 | 5.14107475514030% | | 29 | $1,604,000 | 5.34671774534591% | | 30 | $1,668,000 | 5.56058645515974% | | Payment Total | $30,000,000 |
If the jackpot is $167M your first payment would be $535,000 *($167M/30)~2,978,166 and last is about $9,285,200 | | |
Atlanta United States Member #16270 May 24, 2005 183 Posts Offline | | Posted: September 29, 2005, 12:44 pm - IP Logged | |
Why is powerball not rising as fast...just seems that the jumps used to be bigger, maybe my imagination | | |
United States Member #21907 September 11, 2005 124 Posts Offline | | Posted: September 29, 2005, 1:54 pm - IP Logged | |
The ANNUITY is ALWAYS the BEST deal !!!!!! You show me HOW YOU get to invest the Lump Sum, in full, TAX FREE in T-Bills for a better than 200% return GUARANTEED (100% cash buy-in and 100+% dividends over 29 yrs less 25% fed) and I'll take the cash. Otherwise, the only thing guaranteed is you WILL get HIT 25% off the top of your precious lump sum. Are YOU smart enough to take the Annuity ? Annuities are for Lovers...LUMPs are for LOSERS !!!!! | | |
Stroudsburg, PA United States Member #1860 July 11, 2003 2642 Posts Offline | | Posted: September 29, 2005, 2:45 pm - IP Logged | |
The ANNUITY is ALWAYS the BEST deal !!!!!! You show me how you get to invest the Lump Sum TAX FREE in FULL in T-Bills for a better than 100% return GUARANTEED and I'll take the cash. Are YOU smart enough to take the Annuity ? Annuities are for lovers...cash is for LOSERS !!!!! Well I don't know about T-Bills, but there are a lot of high yield savings accounts out there. You put the cash in an Orange Savings deal for 30 years, and you end up with $171 million plus.
| | |
United States Member #21907 September 11, 2005 124 Posts Offline | | Posted: September 29, 2005, 2:56 pm - IP Logged | |
Orange Savings @ 3.3% APY .....You must be nuts....did you think you would get 33% APY ?!?!? | | |
Greenwich, CT United States Member #4879 May 24, 2004 1822 Posts Offline | | Posted: September 29, 2005, 3:13 pm - IP Logged | |
"Annuities are for Lovers" Sounds like a bad tourism campaign slogan in the making to me! | | |
United States
Member #380
June 5, 2002
11296 Posts
Offline
| | Posted: September 29, 2005, 6:22 pm - IP Logged | |
I don't see a ring to it. It worked for Virginia tourism many years ago however. | | |
Sparta, NJ United States Member #18644 July 9, 2005 1977 Posts Offline | | Posted: September 29, 2005, 6:25 pm - IP Logged | |
The ANNUITY is ALWAYS the BEST deal !!!!!! You show me HOW YOU get to invest the Lump Sum, in full, TAX FREE in T-Bills for a better than 200% return GUARANTEED (100% cash buy-in and 100+% dividends over 29 yrs less 25% fed) and I'll take the cash. Otherwise, the only thing guaranteed is you WILL get HIT 25% off the top of your precious lump sum. Are YOU smart enough to take the Annuity ? Annuities are for Lovers...LUMPs are for LOSERS !!!!! Are you the same guy who caught the rabies from MadDog on another thread? Obviously you're the only individual in the world who can't improve on the government investment concept. By the way, the governemt looses money on everything they touch. Buy you books and buy you bnooks and you chew on the covers. 
|||::> *'`*:-.,_,.-:*''*:--->>> Chewie <<<---.*''*:-.,_,.-:*''* <:::||| I only trust myself - and that's a questionable choice | | |
United States
Member #380
June 5, 2002
11296 Posts
Offline
| | Posted: September 29, 2005, 6:35 pm - IP Logged | |
Here in the Northeast there's a canine flu going around. So I guess it's possible. | | |
Bethesda, Maryland United States Member #17193 June 6, 2005 443 Posts Offline | | Posted: September 29, 2005, 8:35 pm - IP Logged | |
Thanks Green Dragon for doing my Homework for me.....I hate Math...you make it so much easier......(BTW) Chewie....your Blog(above) is cute and funny... | | |
|
