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$475 MILLION: Powerball jackpot nears a half-billion dollars

Topic closed. 131 replies. Last post 3 years ago by jamella724.

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Posted: May 16, 2013, 2:58 pm - IP Logged

The powerball, Va Lottery,  & NC Lottery webistes ALL say the jackpot is now $550 MILLION with aw $350 cash option.  Can we get a clarification...

Not really hard to check it yourself.  Just head to the powerball.com website.

    joshuacloak's avatar - Money Swim-uncle-scrooge-mcduck-35997717-677-518.jpg

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    Posted: May 16, 2013, 2:59 pm - IP Logged

    todd getting some sleep, he update to 550 shortly

    like i said before on old pb record of 587,500,000 or  $384,700,000 cash

    now at 550m or 350m cash, we are getting close to record

    i sure think by draw time we beat old record 

    ofc lottery should Of updated to 550 in half a day

    the lottery CEO's in charge of powerball meet ever day to talk about the jackpot amount"phone conference"

    at lest that's what they said last time we had billion dollar jackpot, so they doing same thing now

    they ofc knew   4xx jackpot going right to 550m at lest, the number guys know it, they know it , so they given order to raise it to 550

    media will be all over the marketing key world, its over half a billion dollars, seems to get everyone to buy

    who would pass up half a billion rofl

    it could be 600m range by draw time, with CA  600m very possible

    this is first half a billion jackpot with ALL states playing , last 2 was missing ether CA "pb record" or Florida "mm" record run

    No bees, no honey.

      Kumo's avatar - ebDWVf6 jpg?1

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      Posted: May 16, 2013, 3:08 pm - IP Logged

      It will be interesting to see how long the lines get at the border towns near states that don't have the PB.

      Jackpot will probably be around $600M by tomorrow and it is anybody's best guess on what it will be by drawing time on Saturday.

      The prior two record breaking jackpots ended on the weekdays, having this one on a weekend changes everything.

      I am not sure if the CVO record will be broken, but I bet the $656M Annuity record will fall by the wayside.

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        Posted: May 16, 2013, 3:14 pm - IP Logged

        I'm surprise nobody haven't post that luxury car, million dollar homes, or dream vacation already.

          dallascowboyfan's avatar - tiana the-princess-and-the-frog.jpg
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          Posted: May 16, 2013, 3:20 pm - IP Logged

          I'm surprise nobody haven't post that luxury car, million dollar homes, or dream vacation already.

          There's already a thread.

          http://www.lotterypost.com/thread/261007

          http://www.lotterypost.com/thread/260139

          I Love Pink & Green 1908

            brees2012's avatar - animal whale.jpg

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            Posted: May 16, 2013, 3:26 pm - IP Logged

                                Powerball hit the half of BILLION ..........$550  MILLION DOLLARS

                          Banana

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              Posted: May 16, 2013, 3:28 pm - IP Logged

              i see lol.

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                Posted: May 16, 2013, 3:29 pm - IP Logged

                Type

                officially giving some serious thought to one of these homes

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                  baton rouge
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                  Posted: May 16, 2013, 3:36 pm - IP Logged

                  3rd largest lottery jackpot the world has ever seen

                  By Todd Northrop

                  You want to win a half-billion dollar jackpot?  For only the third time in history, it is possible — or will be, by the time Saturday's drawing comes around.

                  Let the frenzy begin.  Millions upon millions of people around the country will be lining up for their chance to claim the historic jackpot Saturday evening.

                  The Powerball jackpot is so huge that the next-highest jackpot in history is $85 million less than Saturday's initial estimate.

                  The new high-water mark of $475 million for the current Powerball jackpot was achieved after no winning tickets were sold for Wednesday night's $363.9 million grand prize.  And if past ticket sales are any indication of what will happen this week, the jackpot may get bigger — much bigger — by the time the drawing kicks off.

                  The lump-sum cash payout value of Wednesday's Powerball jackpot is a staggering $302.4 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.

                  The cash payout value is the 3rd-largest in history.  Only Mega Million's record of $471 million, set on March 30, 2012, and Powerball's $384.7 million, awarded on Nov. 28, 2012, were larger than the cash value up for grabs Saturday.  (See list of all-time record annuity and cash jackpots below.)

                  In January, 2012, Powerball's pricing and prize structure changed, with the game's organizers claiming that the changes would produce bigger jackpots more often — and they were right.  Within the first year of the changes, Powerball produced five $300+ million jackpot run-ups, including a nearly $600 million jackpot in November, and the nearly $500 million jackpot Saturday.

                  Players should note that jackpot amounts are conservative estimates provided by the lotteries, and are often somewhat higher by the time the drawing occurs.  In this case, it may be a lot higher, almost certainly exceeding the half-billion dollar mark.

                  The historic prize is the result of 13 consecutive draws without a winner.  The run-up started as a $40 million prize on April 3, 2013.

                  The winning numbers for Wednesday, May 15, 2013 were 2, 11, 26, 34, and 41, with Powerball number 32.

                  Even though nobody won the jackpot Wednesday, 28 lucky players matched the first 5 numbers for a $1,000,000 prize: 1 from Arkansas, 6 from California, 1 from Connecticut, 1 from Delaware, 2 from Georgia, 1 from Indiana, 1 from Kentucky, 2 from Massachusetts, 1 from Michigan, 1 from Missouri, 1 from Nebraska, 1 from New Jersey, 3 from New York, 1 from North Carolina, 2 from Ohio, 1 from Pennsylvania, 1 from South Dakota, and 1 from Virginia.

                  The 6 California second-prize winners will each be awarded $256,317, because California does not award fixed prizes.  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.

                  Only two of the second-prize winners purchased the Power Play option — the tickets sold in Delaware and Pennsylvania.  Because those two tickets were 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.

                  122 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, and 7 of the tickets were sold in California, where the prize was worth $17,447 this drawing.

                  Following the Wednesday drawing, the Powerball annuity jackpot estimate was raised $111.1 million from its previous amount of $363.9 million. The cash value was raised by $70.7 million from its previous amount of $231.7 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 43 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.

                  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 lottery games.  (See Wyoming officially becomes 44th state with a lottery, Lottery 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 3rd-largest lottery jackpot of all time in the United States.  The amount of the jackpot 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. Powerball: $475 million, May 18, 2013 - Preliminary estimate, not won yet
                  4. Mega Millions: $390 million, Mar. 6, 2007 - Georgia, New Jersey
                  5. Mega Millions: $380 million, Jan. 4, 2011 - Idaho, Washington
                  6. Powerball: $365 million, Feb. 18, 2006 - Nebraska
                  7. The Big Game: $363 million, May 9, 2000 - Illinois, Michigan
                  8. Powerball: $340 million, Oct. 19, 2005 - Oregon
                  9. Powerball: $338.3 million, Mar. 23, 2013 - New Jersey
                  10. Powerball: $337 million, Aug. 15, 2012 - Michigan
                  11. Powerball: $336.4 million, Feb. 11, 2012 - Rhode Island
                  12. Mega Millions: $336 million, Aug. 28, 2009 - California, New York
                  13. The Big Game: $331 million, Apr. 16, 2002 - Georgia, Illinois, New Jersey
                  14. Mega Millions: $330 million, Aug. 31, 2007 - Maryland, New Jersey, Texas, Virginia
                  15. Mega Millions: $319 million, Mar. 25, 2011 - New York
                  16. Mega Millions: $315 million, Nov. 15, 2005 - California
                  17. Powerball: $314.9 million, Dec. 26, 2002 - West Virgina
                  18. Powerball: $314.3 million, Aug. 25, 2007 - Indiana
                  19. Powerball: $295.7 million, Jul. 29, 1998 - Indiana
                  20. Powerball: $295 million, Aug. 25, 2001 - Delaware, Kentucky, Minnesota, New Hampshire
                  21. Mega Millions: $294 million, Jul. 2, 2004 - Massachusetts
                  22. Powerball: $276.3 million, Mar. 15, 2008 - West Virgina
                  23. Mega Millions: $275 million, Feb. 22, 2008 - Georgia
                  24. Mega Millions: $270 million, Feb. 28, 2006 - Ohio
                  25. Mega Millions: $266 million, May 4, 2010 - California

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

                  • Mega Millions: 11
                  • Powerball: 12
                  • 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.  The new Powerball jackpot ranks as the 2nd-highest ever in the United States.

                  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. Powerball: $302.4 million cash, May 18, 2013 ($475 million annuity) - Preliminary estimate, not won yet
                  4. Mega Millions: $240 million cash, Jan. 4, 2011 ($380 million annuity) - Idaho, Washington
                  5. Mega Millions: $233.1 million cash, Mar. 6, 2007 ($390 million annuity) - Georgia, New Jersey
                  6. Powerball: $224.7 million cash, Aug. 15, 2012 ($337 million annuity) - Michigan
                  7. Mega Millions: $214 million cash, Aug. 28, 2009 ($336 million annuity) - California, New York
                  8. Powerball: $211 million cash, Mar. 23, 2013 ($338.3 million annuity) - New Jersey
                  9. Powerball: $210 million cash, Feb. 11, 2012 ($336.4 million annuity) - Rhode Island
                  10. Mega Millions: $202.9 million cash, Mar. 25, 2011 ($319 million annuity) - New York
                  11. Mega Millions: $194.4. million cash, Aug. 31, 2007 ($330 million annuity) - Maryland, New Jersey, Texas, Virginia
                  12. Mega Millions: $185 million cash, Nov. 15, 2005 ($315 million annuity) - California
                  13. The Big Game: $180 million cash, May 9, 2000 ($363 million annuity) - Illinois, Michigan
                  14. Powerball: $177.3 million cash, Feb. 18, 2006 ($365 million annuity) - Nebraska
                  15. Mega Millions: $168 million cash, July 2, 2004 ($294 million annuity) - Massachusetts
                  16. Mega Millions: $167.7 million cash, Feb. 22, 2008 ($275 million annuity) - Georgia
                  17. Powerball: $166 million cash, Aug. 25, 2001 ($295 million annuity) - Delaware, Kentucky, Minnesota, New Hampshire
                  18. Mega Millions: $165.2 million cash, May 4, 2010 ($266 million annuity) - California
                  19. Powerball: $164.4 million cash, won Oct. 19, 2005 ($340 million annuity) - Oregon
                  20. Mega Millions: $164 million cash, Feb. 28, 2006 ($270 million annuity) - Ohio

                  I wish all who are going to buy the MM & PB lottery tickets for these draw BEST OF LUCK!!!

                  Enjoy the winnings

                  HSG BR LA

                   

                  Lurking Coffee Thinking of...    Jack-in-the-Box  US Flag No Pity!

                    Jill34786's avatar - Lottery-006.jpg
                    Windermere, FL/Franklin, TN
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                    Posted: May 16, 2013, 3:48 pm - IP Logged

                    First of, I respect everyone's opinion on whichever payout he/she chooses. Those who think that the annuity may be best for them may want to consider that it's paid out over 30 years and is heavily back end loaded. We all have no idea what inflation or how high taxes will go.

                    I personally would advise any of my clients to choose the lump sum.  Any competent, well seasoned money manager can offer much better returns than what the annuity pays out. Many individuals who have opted for the annuity ended up cashing out thereby ending up with even less money had they taken the lump sum up front.

                    I have done an analysis on the rate at which an annuity for PB as well well as MM pay out over the distance. MM is much better than PB but still dismal compared to even a minimal 3 or 4% annualized return you could easily get on your own with some guidance.

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                      Toronto
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                      Posted: May 16, 2013, 4:48 pm - IP Logged

                      100th comment wooo hope that brings me some luck for the draw.... I'll REALLY need it considering I live in Canada so I can't buy a ticket :(

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                        Posted: May 16, 2013, 6:19 pm - IP Logged

                        First of, I respect everyone's opinion on whichever payout he/she chooses. Those who think that the annuity may be best for them may want to consider that it's paid out over 30 years and is heavily back end loaded. We all have no idea what inflation or how high taxes will go.

                        I personally would advise any of my clients to choose the lump sum.  Any competent, well seasoned money manager can offer much better returns than what the annuity pays out. Many individuals who have opted for the annuity ended up cashing out thereby ending up with even less money had they taken the lump sum up front.

                        I have done an analysis on the rate at which an annuity for PB as well well as MM pay out over the distance. MM is much better than PB but still dismal compared to even a minimal 3 or 4% annualized return you could easily get on your own with some guidance.

                        What's your thought on putting the vast majority of this windfall (250 mil-plus depending on state of residence) into tax-free, short-medium length municipal bonds and bond funds?

                          Jill34786's avatar - Lottery-006.jpg
                          Windermere, FL/Franklin, TN
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                          Posted: May 16, 2013, 6:41 pm - IP Logged

                          What's your thought on putting the vast majority of this windfall (250 mil-plus depending on state of residence) into tax-free, short-medium length municipal bonds and bond funds?

                          Muni bonds are not as safe as they once were and the yield has gone way done. That said, there are small pockets of quality munis that will net you 3-4% annually.

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                            Posted: May 16, 2013, 6:43 pm - IP Logged

                            U are right. Geesh, $75 million in less than 24 hours...maybe 700 mil by Saturday night

                            The jackpots may not get this big very often, but MUSL has years of experience at estimating sales. It was a foregone conclusion that they would lowball the first estimate, but once they've got several hours of sales figures to compare to  past drawings they can make a much better guess at what the actual sales will be by Saturday night. If MUSL didn't already expect it be higher than $550 they wouldn't have picked that figure for the first update. We can expect another adjustment, but I'd be surprised if it actually gets to $7600.

                            My best guess based on the record jackpot , and California joining, is that  the final tally will be  $640ish, but I certainly wouldn't mind being wrong.


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                              Posted: May 16, 2013, 6:46 pm - IP Logged

                              The jackpots may not get this big very often, but MUSL has years of experience at estimating sales. It was a foregone conclusion that they would lowball the first estimate, but once they've got several hours of sales figures to compare to  past drawings they can make a much better guess at what the actual sales will be by Saturday night. If MUSL didn't already expect it be higher than $550 they wouldn't have picked that figure for the first update. We can expect another adjustment, but I'd be surprised if it actually gets to $7600.

                              My best guess based on the record jackpot , and California joining, is that  the final tally will be  $640ish, but I certainly wouldn't mind being wrong.

                              Are you saying that your very accustomed to being wrong KY? Green laugh