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Powerball lottery jackpot raised to $101 million

Mar 20, 2006, 10:39 am

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PowerballPowerball: Powerball lottery jackpot raised to $101 million

The Powerball jackpot continues to gain power. No one hit the jackpot Saturday, but 601,845 players across the nation won a total of more than $5 million in prizes in America's Game.

Because no one correctly matched all six numbers in Saturday's drawing the jackpot will grow to an estimated $101 million.

The cash option for the Wednesday, March 22nd drawing will be an estimated $47.9 million.

The numbers drawn Saturday were 1, 25, 34, 36, 42, and the Powerball was 19. The Power Play multiplier was 2.

Five players correctly matched the 5 white numbers and won $200,000. Their winning tickets were purchased in Arizona (1), Iowa (1), Missouri (1), and Pennsylvania (2). One additional lucky player in South Carolina who matched 5 also wisely purchased the Power Play option and multiplied the $200,000 prize by 2 for a total win of $400,000.

Twenty-nine players matched 4 white numbers plus the Powerball and won $10,000. Five additional winners at that prize level also purchased the Power Play option multiplying their winnings 2 times for a total of $20,000.

More than 130,000 winning Powerball players multiplied their prize by 2 Saturday. They were able to do that by purchasing the Power Play option for one dollar. With Power Play you multiply your Powerball winnings by 2-5 times, except for the jackpot. At the beginning of each drawing a wheel is spun to select that night's multiplier. For a limited time during the current "Power Play 10X" promotion, all prizes (except the jackpot) can be multiplied up to 10 times for the same $1 Power Play cost.

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 $26.7 million in tickets between Wednesday and Saturday 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

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15 comments. Last comment 15 years ago by KY Floyd.
Page 1 of 2

United States
Member #16611
June 2, 2005
3493 Posts
Offline

A lot of people win the game in PB, but I like it when it continues to roll. I hope it continues to roll until it reaches a cap.

    dvdiva's avatar - 8ball

    United States
    Member #2338
    September 17, 2003
    2063 Posts
    Offline

    I have a feeling that this roll can reach the cap yet again. That might change once North Carolina joins.

      weshar75's avatar - Lottery-042.jpg
      Mcminnville, Oregon
      United States
      Member #3013
      December 13, 2003
      4756 Posts
      Offline

      I would like to win this wednesday.  I do not think I should continue to build the jackpot for some else.  I want the jackpot NOW!-weshar75

        Avatar
        detroit/michigan/usa
        United States
        Member #12322
        March 11, 2005
        36 Posts
        Offline

        It really needs to roll over a lot, because when you campare the mega millions cash payout of 40 mil on a 68mil jackpot, and powerball is almost double 101 mil for a cash payout of 47.9 mil.  Id like to have the mega millions roll some, much better payout

          Avatar
          Palm Harbor, FL
          United States
          Member #32361
          February 11, 2006
          145 Posts
          Offline

          How much is the cap

            dvdiva's avatar - 8ball

            United States
            Member #2338
            September 17, 2003
            2063 Posts
            Offline

            Currently 390 million. That's only 183 million in cash and 119 as post-federal income tax cash. Same prize in Megamillions is 320 million not that it will get there. Four more rolls of Euromillions will also match the post tax amount.

              Uff Da!'s avatar - InCelebration 001.jpg
              Washington State
              United States
              Member #33972
              February 26, 2006
              349 Posts
              Offline

              On what is the cap based?  How is it determined?  I didn't even realize there was a cap until I started reading about it on LotteryPost in the past month.

                Avatar
                New Member

                United States
                Member #21960
                September 17, 2005
                17 Posts
                Offline

                Hi, I have been trying to buy tickets from PT Service, but my credit cards are being declined since last friday (I am using the same cards, and my payments are up to date). 

                Anyone else having problems with PTS?

                I will appreciate your response.

                Thank you.

                  KY Floyd's avatar - lysol avatar.jpg
                  NY
                  United States
                  Member #23834
                  October 16, 2005
                  4263 Posts
                  Offline

                  On what is the cap based?  How is it determined?  I didn't even realize there was a cap until I started reading about it on LotteryPost in the past month.

                  The cap comes into play whenever the annuity jackpot reaches a previous PB jackpot  record. It was enacted about a year and half ago, at which time the highest anuity jackpot that PB had offered was the $315 million that Jack Whittaker took as a cash prize. When PB reached $315 million again the cap came into play for the first time, resulting in a jackpot of $340 million. The recent $365 million jackpot was the second time  the cap came into play, when the jackpot again reached the $340 million mark. 

                  dvdiva's statement is incorrect. The cap is the maximum amount by which the annuity jackpot can increase, which is $25 million, not the amount of the resulting jackpot. That increase could be limited by the cap on the rollover or by actual sales, which means it can be anything between 365 and 390. Based on previous sales, if an intermediate annuity jackpot is in the $270 to 290 million range we can expect that a subsequent draw will mean about $40 to 50 million cash for the jackpot prize pool, which is enough to increase the annuity value by about  $80 to 100 million.  Depending on the exact value of the intermediate jackpot, actual sales could push the subsequent annuity value to just under $365 million, slightly more than $365 million, or any amount up to $390 million.  For example, an increase of $95 million on a jackpot of $275 million would make the next jackpot $370 million, and if there was no winner the cap would come into play on the next rollover and result in a jackpot of $395 million.

                  While the cap on the rollover is fixed and applies to the anuity value, the increase in the cash value will vary with interest rates. Currently it takes about $12 million in cash for $25 million in annuity value. When the cap is in effect any proceeds in excess of the $12 million that would normally go into the jackpot prize pool go into a bonus prize pool for second place. The bonus will only be paid to second place winners when the jackpot is won. The bonus pool will rollover if there is no winner, and the jackpot would also increase by a maximum of $25 million. FWIW, if the bonus pool has $30 million or more power play is a real sucker's bet.


                   

                  .

                    Todd's avatar - Cylon 200.jpg
                    50
                    Chief Bottle Washer
                    New Jersey
                    United States
                    Member #1
                    May 31, 2000
                    25847 Posts
                    Online

                    Hi, I have been trying to buy tickets from PT Service, but my credit cards are being declined since last friday (I am using the same cards, and my payments are up to date). 

                    Anyone else having problems with PTS?

                    I will appreciate your response.

                    Thank you.

                    Yup, me too.  I contacted them and they say they're aware of it and working to resolve it with their credit card company.  Apparently not all cards are being rejected, but lots are.  Maybe try Betslips.com until it clears up.

                     

                    Check the State Lottery Report Card
                    What grade did your lottery earn?

                     

                    Sign the Petition for True Lottery Drawings
                    Help eliminate computerized drawings!

                      Kidzmom's avatar - cold
                      NC
                      United States
                      Member #11741
                      February 23, 2005
                      1234 Posts
                      Offline

                      So when NC joins the powerball in a couple of months, will the odds get longer like they did when CA joined the mega millions?  I haven't heard yet has anyone else heard?

                        Todd's avatar - Cylon 200.jpg
                        50
                        Chief Bottle Washer
                        New Jersey
                        United States
                        Member #1
                        May 31, 2000
                        25847 Posts
                        Online

                        I doubt there will be any changes.  Sales are doing quite well at the moment.

                         

                        Check the State Lottery Report Card
                        What grade did your lottery earn?

                         

                        Sign the Petition for True Lottery Drawings
                        Help eliminate computerized drawings!

                          Uff Da!'s avatar - InCelebration 001.jpg
                          Washington State
                          United States
                          Member #33972
                          February 26, 2006
                          349 Posts
                          Offline

                          On what is the cap based?  How is it determined?  I didn't even realize there was a cap until I started reading about it on LotteryPost in the past month.

                          The cap comes into play whenever the annuity jackpot reaches a previous PB jackpot  record. It was enacted about a year and half ago, at which time the highest anuity jackpot that PB had offered was the $315 million that Jack Whittaker took as a cash prize. When PB reached $315 million again the cap came into play for the first time, resulting in a jackpot of $340 million. The recent $365 million jackpot was the second time  the cap came into play, when the jackpot again reached the $340 million mark. 

                          dvdiva's statement is incorrect. The cap is the maximum amount by which the annuity jackpot can increase, which is $25 million, not the amount of the resulting jackpot. That increase could be limited by the cap on the rollover or by actual sales, which means it can be anything between 365 and 390. Based on previous sales, if an intermediate annuity jackpot is in the $270 to 290 million range we can expect that a subsequent draw will mean about $40 to 50 million cash for the jackpot prize pool, which is enough to increase the annuity value by about  $80 to 100 million.  Depending on the exact value of the intermediate jackpot, actual sales could push the subsequent annuity value to just under $365 million, slightly more than $365 million, or any amount up to $390 million.  For example, an increase of $95 million on a jackpot of $275 million would make the next jackpot $370 million, and if there was no winner the cap would come into play on the next rollover and result in a jackpot of $395 million.

                          While the cap on the rollover is fixed and applies to the anuity value, the increase in the cash value will vary with interest rates. Currently it takes about $12 million in cash for $25 million in annuity value. When the cap is in effect any proceeds in excess of the $12 million that would normally go into the jackpot prize pool go into a bonus prize pool for second place. The bonus will only be paid to second place winners when the jackpot is won. The bonus pool will rollover if there is no winner, and the jackpot would also increase by a maximum of $25 million. FWIW, if the bonus pool has $30 million or more power play is a real sucker's bet.


                           

                          .

                          KY Floyd - Thanks so much for your thorough explanation.  I really appreciate your posts.  It is great to have someone give complete details for those of us who have been only casual players and therefore aren't in the know.  And explaining without talking down to us, too, I might add.

                            Avatar
                            New Member

                            United States
                            Member #21960
                            September 17, 2005
                            17 Posts
                            Offline

                            Thank you, Todd.
                            PTS is still down for me.
                            I will check this site you mention, I would like to buy some tickets for euromillions.