$320 MILLION: Powerball lottery jackpot goes through the roof

Mar 21, 2013, 1:11 am (444 comments)

Powerball

13th-largest US jackpot ever; 9th-largest cash value

By Todd Northrop

For only the 17th time in the history of United States lotteries, a lottery jackpot run-up has crossed into $300 million+ territory.

The new high-water mark of $320 million for the current Powerball jackpot was achieved after no winning tickets were sold for Wednesday night's $260 million grand prize.

The lump-sum cash payout value of Wednesday's Powerball jackpot is $198.3 million.  After-tax cash and annuity prize amounts are reported state-by-state on the Jackpot Analysis page at USA Mega, a web site devoted to the Powerball and Mega Millions multi-state lottery games.

This is the largest Powerball jackpot since Nov. 28, 2012, when 2 tickets sold in Arizona and Missouri split a $587.5 million Powerball jackpot (see Record $587.5 million Powerball jackpot won by 2 tickets, Lottery Post, Nov. 29, 2012).

Players should note that jackpot amounts are conservative estimates provided by the lotteries, and are often somewhat higher by the time the drawing occurs.

The mammoth prize is the result of 12 consecutive draws without a winner.  The run-up started as a $40 million prize on February 9, 2013.

The winning numbers for Wednesday, March 20, 2013 were 13, 14, 17, 43, and 54, with Powerball number 15.

Even though nobody won the jackpot Wednesday, 3 lucky players matched the first 5 numbers for a $1,000,000 prize: 1 from Florida, 1 from Kentucky, and 1 from Ohio.

None all the second-prize winners purchased their tickets with the Power Play option for an extra $1, which would have doubled their second prize payout to $2 million.

74 tickets matched four white numbers plus the Powerball and won $10,000. Of those tickets, 10 were purchased with the Power Play option, increasing the prize to $40,000.

Following the Wednesday drawing, the Powerball annuity jackpot estimate was raised $60 million from its previous amount of $260 million. The cash value was raised by $37.2 million from its previous amount of $161.1 million.

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 42 states, plus the District of Columbia and the U.S. Virgin Islands.  Drawings are Wednesdays and Saturdays at 11:00 p.m. Eastern Time.  Tickets cost $2 each.

On April 8, California will join the Powerball game, becoming the 43rd state to play the game. After California joins the game, Powerball will be available for purchase in every U.S. state that operates a lottery.

A 44th Powerball state will be added some time in the next year, as the state of Wyoming has approved a new state lottery with the intention of joining Powerball and other multi-state games.  (See Wyoming officially becomes 44th state with a lotteryLottery Post, Mar. 14, 2013.)

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

Saturday's Powerball jackpot currently stands as the 13th-largest lottery jackpot of all time in the United States.  That position may rise before the drawing Saturday night, as lotteries are typically conservative in their initial estimates, and brisk sales may push the jackpot estimate higher by draw time.

If nobody wins Saturday, it's anyone's guess how high it will go.

  1. Mega Millions: $656 million, Mar. 30, 2012 - Illinois, Kansas, Maryland
  2. Powerball: $587.5 million, Nov. 28, 2012 - Arizona, Missouri
  3. Mega Millions: $390 million, Mar. 6, 2007 - Georgia, New Jersey
  4. Mega Millions: $380 million, Jan. 4, 2011 - Idaho, Washington
  5. Powerball: $365 million, Feb. 18, 2006 - Nebraska
  6. The Big Game: $363 million, May 9, 2000 - Illinois, Michigan
  7. Powerball: $340 million, Oct. 19, 2005 - Oregon
  8. Powerball: $337 million, Aug. 15, 2012 - Michigan
  9. Powerball: $336.4 million, Feb. 11, 2012 - Rhode Island
  10. Mega Millions: $336 million, Aug. 28, 2009 - California, New York
  11. The Big Game: $331 million, Apr. 16, 2002 - Georgia, Illinois, New Jersey
  12. Mega Millions: $330 million, Aug. 31, 2007 - Maryland, New Jersey, Texas, Virginia
  13. Powerball: $320 million, Mar. 23, 2013 - preliminary estimate, not won yet
  14. Mega Millions: $319 million, Mar. 25, 2011 - New York
  15. Mega Millions: $315 million, Nov. 15, 2005 - California
  16. Powerball: $314.9 million, Dec. 26, 2002 - West Virgina
  17. Powerball: $314.3 million, Aug. 25, 2007 - Indiana
  18. Powerball: $295.7 million, Jul. 29, 1998 - Indiana
  19. Powerball: $295 million, Aug. 25, 2001 - Delaware, Kentucky, Minnesota, New Hampshire
  20. Mega Millions: $294 million, Jul. 2, 2004 - Massachusetts
  21. Powerball: $276.3 million, Mar. 15, 2008 - West Virgina
  22. Mega Millions: $275 million, Feb. 22, 2008 - Georgia
  23. Mega Millions: $270 million, Feb. 28, 2006 - Ohio
  24. Mega Millions: $266 million, May 4, 2010 - California
  25. Mega Millions: $265 million, Apr. 18, 2006 - Ohio

For those keeping score, the number of jackpots in the top 25, by lottery game, are:

  • Mega Millions: 12
  • Powerball: 11
  • 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 20 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 is even better than the annuity, ranking as the ninth-largest cash value in U.S. history.

  1. Mega Millions: $471 million cash, Mar. 30, 2012 ($656 million annuity) - Illinois, Kansas, Maryland
  2. Powerball: $384.7 million cash, Nov. 28, 2012 ($587.5 million annuity) - Arizona, Missouri
  3. Mega Millions: $240 million cash, Jan. 4, 2011 ($380 million annuity) - Idaho, Washington
  4. Mega Millions: $233.1 million cash, Mar. 6, 2007 ($390 million annuity) - Georgia, New Jersey
  5. Powerball: $224.7 million cash, Aug. 15, 2012 ($337 million annuity) - Michigan
  6. Mega Millions: $214 million cash, Aug. 28, 2009 ($336 million annuity) - California, New York
  7. Powerball: $210 million cash, Feb. 11, 2012 ($336.4 million annuity) - Rhode Island
  8. Mega Millions: $202.9 million cash, Mar. 25, 2011 ($319 million annuity) - New York
  9. Powerball: $198.3 million cash, Mar. 23, 2013 ($320 million annuity) - preliminary estimate, not won yet
  10. Mega Millions: $194.4. million cash, Aug. 31, 2007 ($330 million annuity) - Maryland, New Jersey, Texas, Virginia
  11. Mega Millions: $185 million cash, Nov. 15, 2005 ($315 million annuity) - California
  12. The Big Game: $180 million cash, May 9, 2000 ($363 million annuity) - Illinois, Michigan
  13. Powerball: $177.3 million cash, Feb. 18, 2006 ($365 million annuity) - Nebraska
  14. Mega Millions: $168 million cash, July 2, 2004 ($294 million annuity) - Massachusetts
  15. Mega Millions: $167.7 million cash, Feb. 22, 2008 ($275 million annuity) - Georgia
  16. Powerball: $166 million cash, Aug. 25, 2001 ($295 million annuity) - Delaware, Kentucky, Minnesota, New Hampshire
  17. Mega Millions: $165.2 million cash, May 4, 2010 ($266 million annuity) - California
  18. Powerball: $164.4 million cash, won Oct. 19, 2005 ($340 million annuity) - Oregon
  19. Mega Millions: $164 million cash, Feb. 28, 2006 ($270 million annuity) - Ohio
  20. Powerball: $161.5 million cash, July 29, 1998 ($295.7 million annuity) - Indiana

Lottery Post Staff

Comments

En ReVal

Well, here we go again! Playin' the same numbers again!  Can we get a non-quick pick to win this time?

noise-gate

Someone other than Californians will win this PB jackpot go round. I hope its someone who frequents this forum and who we know..more or less.
That is my wish to you guys & gals. Now go out there and Win. !!Party

whiteballz's avatarwhiteballz

a lump sum payout of $198.3 million, that ends up being about $99.4 million after goverment confiscation.

$198.3 million x 39.6 (federal income tax) x 10.8 (state income tax) x 3.8 (obamacare tax) + $8.56 million (deduction for state tax) equals about $99.4 million.

RedStang's avatarRedStang

"Salute" for good luck or if you like wine "Cin Cin".

DC81's avatarDC81

Quote: Originally posted by whiteballz on Mar 21, 2013

a lump sum payout of $198.3 million, that ends up being about $99.4 million after goverment confiscation.

$198.3 million x 39.6 (federal income tax) x 10.8 (state income tax) x 3.8 (obamacare tax) + $8.56 million (deduction for state tax) equals about $99.4 million.

Well, on the bright side it'll probably at least be an even 100M before the drawing.

whiteballz's avatarwhiteballz

Quote: Originally posted by DC81 on Mar 21, 2013

Well, on the bright side it'll probably at least be an even 100M before the drawing.

If you win the jackpot, 25% will be withheld by the lottery office before you even receive the check. The rest of the taxes will be due April 2014. If you need help doing your 2014 taxes after winning Powerball, call me. I'll be happy to help.

whiteballz's avatarwhiteballz

Quote: Originally posted by noise-gate on Mar 21, 2013

Someone other than Californians will win this PB jackpot go round. I hope its someone who frequents this forum and who we know..more or less.
That is my wish to you guys & gals. Now go out there and Win. !!Party

A Californian might win this jackpot. No one is stopping Californians from driving to Oregon or Arizona to get Powerball tickets.

gocart1's avatargocart1

Go baby go

VenomV12

Quote: Originally posted by whiteballz on Mar 21, 2013

a lump sum payout of $198.3 million, that ends up being about $99.4 million after goverment confiscation.

$198.3 million x 39.6 (federal income tax) x 10.8 (state income tax) x 3.8 (obamacare tax) + $8.56 million (deduction for state tax) equals about $99.4 million.

Oh shup up with the government confiscation crap. You will walk away with $100+ million for spending a couple bucks. Can't your kind ever stop whining? Jesus Christ. The people like you are usually the ones sucking off the government teat. Almost every single time. 

joshuacloak's avatarjoshuacloak

notice how top 4 record jackpots  have more then 1 winner

 

out of top top 10"number 9th without a winner atm"  6 of them have  2 or more winners

 

if this baby rolls, going by mega chart shows it going to 500m range

1 rollover away form a other godly monster.  now we 320m i think we start seeing media reports slowly come in

 

it it rolls,  they will ofc market it 400m whatever,  we know once they market it anything 400m . it  sends lotto fever into everyone and they go right to 500/600 range

we have at lest 3rd largest jackpot in history if it rolls past this one

i think with only 2,  5-0 winners this last draw, its just matter of luck of numbers fallin 

as we sure won't past 50% of all number combo's sold, 

 


Wednesday, November 28, 2012
05 · 16 · 22 · 23 · 29    + 06 $587.5 Million
Saturday, November 24, 2012 22 · 32 · 37 · 44 · 50    + 34 $325 Million

 

and 2 person who said 99m atfer all taxes, wrong ,  try 119m atfer full 39.6 full rate, 

also   don't u dare put obamacare tax in here,  that don't apply here,  bro, that's for freaking   tax on investment income.

why the tax is bad, applying it 2 something as a lottery win is madness in accounting error.

 govt can have there 70m + in taxes, if your getting 119m

u ,your kids, your future grind kids,and the great grind kids can live  off of this thing

100m invested into near anything decent and safe will see a nice return

u can even  spend 19m   buy everyone u love a nice little home/car.whatever

invest the rest at like 4% or anything return rates, and i don't know how the hell u can blow that. wait i do................

just ask Andrew “Jack” Whittaker . that man found out how to waste 315 million jackpot 

here the sad part, he was rich before the win, mwhahahaha

how in hell he did it is sure amazing to read. look him up in lottery post search, 

 

 

redhot7's avatarredhot7

Hopefully it will hit 1 billion from one ticket and one winner (no office poll). A real world record!

Now that would be BIG news not just in America but all over the world.

KY Floyd's avatarKY Floyd

Quote: Originally posted by whiteballz on Mar 21, 2013

a lump sum payout of $198.3 million, that ends up being about $99.4 million after goverment confiscation.

$198.3 million x 39.6 (federal income tax) x 10.8 (state income tax) x 3.8 (obamacare tax) + $8.56 million (deduction for state tax) equals about $99.4 million.

A lot of people refer to the "Obamacare tax", but the correct name is the Net Investment Income Tax. Lottery winnings are not, and never have been, viewed by the IRS as investment income. The tax applies to the lesser of net investment income or adjusted gross income beyond a threshold.

Everything I've seen indicates that the name is accurate, and it's only investment income that will matter. If anyone has seen a legitimate source reporting that the tax will apply to lottery (or other gambling) winnings I'd be happy to look at it, but if lottery winnings are treated as investment income it may open the door for claiming some lottery winnings at the capital gains rate. I can promise that the IRS would rather tax a jackpot at 39.6% than 20% plus 3.8%.

That means that unless the IRS starts treating lottery winnings as investment income nobody is going to pay the tax on lottery winnings unless their lottery winnings plus everything else that contributes to their AGI is less than their investment income. That means that somebody with an AGI of more than $125 to 250k (depending on filing status) including a reported win of $1000 and investment income of more than $1000 will pay an extra $38. If they won $10k and had more than $10k from investment income they'd pay $380. If they won $100 million and had investment income of $100k they'd pay $3,800.

dallascowboyfan's avatardallascowboyfan

Woo Hoo let the frenzy begin...

dallascowboyfan's avatardallascowboyfan

Quote: Originally posted by noise-gate on Mar 21, 2013

Someone other than Californians will win this PB jackpot go round. I hope its someone who frequents this forum and who we know..more or less.
That is my wish to you guys & gals. Now go out there and Win. !!Party

That' nice of you noise-gate I know it must be frustrating not to be able to participate in this powerball frenzy.

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