5th-largest US jackpot ever; 5th-largest cash value
By Todd Northrop
Mega jackpots are back!
2014 came and went as a year devoid of frenzy-inducing lottery jackpots, but 2015 is shaping up to be jackpot-chasers' dream.
Between now and Wednesday evening, anyone can walk into a store and buy a lottery ticket for a couple of bucks that has the potential of winning around a half-billion dollars.
An estimated $450 million, to put a finer point on it — but even that amount is likely to be far-exceeded by the time the Powerball drawing kicks off Wednesday evening.
That's because lotteries typically are very conservative in their initial jackpot estimates. But like we saw with Saturday's Powerball drawing, the initial estimate Thursday morning was $360 million, which grew to $380 million by Friday afternoon, and finally to $394.5 million by draw time Saturday night.
Seasoned lottery players keep an eye on the lump-sum cash value of the jackpot, and the initial estimate is just as eye-popping: $304.1 million. And likely to grow even bigger before Wednesday.
When compared against all lottery drawings conducted in United States lottery history, Wednesday's Powerball jackpot ranks 5th all-time, and the cash value also ranks as number 5 among all cash values in history. (See the top 25 United States annuity and cash value jackpots below.)
Of course, the big winner (or winners) will have to pay taxes on their prize, so USA Mega has a handy Jackpot Analysis page available to calculate the federal and state taxes that would be withheld upon the award of your nice big jackpot.
This is the largest Powerball jackpot since — well, since the largest Powerball jackpot of all time was awarded in the May 18, 2013, drawing. A single lottery ticket, purchased by Gloria MacKenzie of Zephyrhills, Florida, won the entire $590.5 million grand prize. (See Winner of record $590.5 million Powerball lottery jackpot announced, Lottery Post, June 5, 2013).
Wednesday's mammoth jackpot is the result of 20 consecutive draws without a winner. The run-up started as a $40 million prize on December 3, 2014.
The winning numbers for Saturday, February 7, 2015 were 5, 10, 21, 34, and 58, with Powerball number 33. The Power Play number was 5.
Even though nobody won the jackpot Saturday, 11 lucky players matched the first 5 numbers for a $1,000,000 prize: 2 from California, 2 from Florida, 1 from Louisiana, 1 from Massachusetts, 1 from Missouri, 2 from New York, 1 from Ohio, and 1 from Texas.
The two California second-prize winners each will be awarded $1,388,464, 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 one of the second-prize winners purchased the Power Play option — the ticket sold in Massachusetts. Because that ticket was 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.
101 tickets matched four white numbers plus the Powerball and won $10,000. Of those tickets, 11 were purchased with the Power Play option, increasing the prize to $50,000, and 10 of the tickets were sold in California, where the prize was worth $13,056 this drawing.
Following the Saturday drawing, the Powerball annuity jackpot estimate was raised $55.5 million from its previous amount of $394.5 million. The cash value was raised by $37.5 million from its previous amount of $266.6 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, 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 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 as the 5th-largest lottery jackpot of all time in the United States, and the 3rd-largest Powerball jackpot ever. Brisk sales will almost certainly push the jackpot estimate higher by draw time.
If nobody wins Wednesday, it's anyone's guess how high it will go.
- Mega Millions: $656 million, Mar. 30, 2012 - Illinois, Kansas, Maryland
- Mega Millions: $648 million, Dec. 17, 2013 - California, Georgia
- Powerball: $590.5 million, May 18, 2013 - Florida
- Powerball: $587.5 million, Nov. 28, 2012 - Arizona, Missouri
- Powerball: $450 million, Feb. 11, 2015 - Preliminary estimate, not won yet
- Powerball: $448.4 million, Aug. 7, 2013 - Minnesota, New Jersey (2)
- Powerball: $425.3 million, Feb. 19, 2014 - California
- 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: $326 million, Nov. 4, 2014 - New York
- Mega Millions: $319 million, Mar. 25, 2011 - New York
- Mega Millions: $315 million, Nov. 15, 2005 - California
- Powerball: $314.9 million, Dec. 25, 2002 - West Virgina
- Powerball: $314.3 million, Aug. 25, 2007 - Indiana
The number of jackpots in the top 25, by lottery game, are:
- Powerball: 13
- Mega Millions: 10
- 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 5th-largest cash value in U.S. history.
- 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: $370.9 million cash, May 18, 2013 ($590.5 million annuity) - Florida
- Mega Millions: $347.6 million cash, Dec. 17, 2013 ($648 million annuity) - California, Georgia
- Powerball: $304.1 million cash, Feb. 11, 2015 ($450 million annuity) - Preliminary estimate, not won yet
- 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 ($326 million annuity) - New York
- Mega Millions: $194.4 million cash, Aug. 31, 2007 ($330 million annuity) - Maryland, New Jersey, Texas, Virginia
- Mega Millions: $185 million cash, Nov. 15, 2005 ($315 million annuity) - California
- The Big Game: $180 million cash, May 9, 2000 ($363 million annuity) - Illinois, Michigan
- Mega Millions: $177.3 million cash, Jan. 16, 2015 ($270 million annuity) - Illinois
- Powerball: $177.3 million cash, Feb. 18, 2006 ($365 million annuity) - Nebraska
- Powerball: $170.5 million cash, Dec. 25, 2002 ($314.9 million annuity) - West Virginia
- Mega Millions: $168 million cash, July 2, 2004 ($294 million annuity) - Massachusetts
- Mega Millions: $167.7 million cash, Feb. 22, 2008 ($275 million annuity) - Georgia
The number of jackpot cash values in the top 25, by lottery game, are:
- Mega Millions: 13
- Powerball: 11
- The Big Game: 1
well things just got interesting
A lot of lives will be changed by this, hopefully, a lot of good will be done. I suspect it will reach $475,000,000 by Wednesday..........
i cant believe nobodies nnumbers matched. i had two in a row and off two numbers by one each. today il buy 3 tickets and two mega millions. doesnt matter what the jackpot is(:
how many tickets are you going to buy? so many people are going play im just putting 6 dollars
$450 million Woo Hoo
JACKPOT FEVER!!! WOOOOOOOOOOO!!!!!!!!!!!
Dang, when I finally went to bed last night, it was some winner in Brooklyn NY.
Come on Powerball! Wooooooooooo!!!!!!!!!
Let's not forget Puerto Rico is in the mix now too, good luck everyone!!
oh man, had all the six numbers but on different tickets!!!
so close!! cant believe no one won it
The Jackpot analysis is really COOL!!! I already knew that Maryland was crazy in taxes from the people I know/work with but this chart PROVES it
If I hit in Delaware my cash prize is - $228,075,000 due to no state taxes on it!
Maryland appears to be tied with NY for the LOWEST - $ 201,466,250
so 28 mil more for me!! LOL!
I can see the coffers from Alabama, Mississippi, Nevada and Utah leaving to border states to play the lottery. Didn't include the other two holdouts for obvious reasons...where could Hawaiian or Alaskan residents drive to? lol
Must be nice not to have State taxes taken out of the lottery win. With the extra $28 million left over, I'd go out and purchase my first starter house for $28Million ! LO L
J/K (Maybe).
I'd like to think I would stay within $500,000-$2M max range at tops when I win. But I am sure I will exceed that easily with more than $200M in the bank. :)
11 millionaires were created this draw. What more can you ask for?. Maybe 20 millionaires next draw, including me as one of the winners. Let the fun begin!!!.
One of the 5 out of 5 winners came from a quick pick of a store right down the road that I use to go to all the time before starting to play the lotto. I guess I need to start going there and tap into that luck well =D
looks like someone got into Miss Annie's cat nipp stash again
DE..... Don't to forget the tax taxes taken(25%) out are not the taxes you will owe in full. If the $304 million cash offer is taken, your Fed income tax rate is at 39.6%. That will leave you around $183 Mil & change if you live in a non income tax state(like TX). Course, you get to take any deductions to offset it...
Still not a bad haul on a $2 investment !!!