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$450 MILLION: Powerball sales bonanza sparks early jackpot increase

Topic closed. 89 replies. Last post 11 months ago by MaximumMillions.

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United States
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February 15, 2015
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Posted: January 6, 2016, 1:51 am - IP Logged

If they bump it i think 525 may be next.

I'll predict a bump to 510 million.  Anyone else want to guesstimate the final pot?

Wink 

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    Happy California
    United States
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    Posted: January 6, 2016, 2:08 am - IP Logged

    490 million is my guess. I think that it will be won this draw.Conehead

     I've been rich and I've been poor. Believe me, rich is better. 

     Attributed to Joe E. Lewis and others

      Bondi Junction
      Australia
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      December 24, 2007
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      Posted: January 6, 2016, 3:51 am - IP Logged

      6th-biggest lottery jackpot in US history

      By Todd Northrop

      Due to larger than expected sales volume, the Multi-State Lottery Association (MUSL) has raised the official Powerball lottery jackpot estimate for Wednesday's drawing to $450 million.

      The all-important lump-sum cash value of the jackpot has been raised to $275.4 million.

      The newly-increased annuity and cash value jackpot amounts are both the 6th-largest ever recorded in United States lottery history. The top-25 annuity and cash value jackpots are listed below.

      "Strong Powerball sales mean more revenue for public education in Texas and for other important causes supported by lotteries across the country," said Gary Grief, executive director of the Texas Lottery and chair of the Powerball game group.

      The Powerball drawing will be contacted Wednesday night at 10:59 pm Eastern Time (7:59 pm Pacific).  The mammoth grand prize started at $40 million on Nov. 7, 2015, and is the result of 17 drawings with no jackpot winner.

      After the Saturday evening Powerball drawing, when it was determined that there were no jackpot winners, the new jackpot estimate for Wednesday was set at $400 million, with a cash value of $244.8 million. The lottery sets the initial estimates based on what they conservatively believe the ticket sales will be prior to the next drawing. When it becomes clear that actual ticket sales are vastly outstripping the initial projections, the lotteries raise the jackpot estimate accordingly — as they did today.

      It is quite possible that by the time the drawing occurs tomorrow night, the jackpot will be further increased. The final jackpot tally is announced during the live drawing show.

      Lottery players seeking to check the winning numbers Wednesday night are urged to use USA Mega (www.usamega.com). State lottery Web sites are normally brought to a standstill during busy periods, while USA Mega normally remains responsive.

      Powerball drawing results will be posted immediately after the 10:59 pm drawing at USA Mega. The number of winners and new jackpot will be announced after all participating Powerball states have reported their data, which normally occurs within a couple of hours after the drawing.

      Tickets will remain on sale typically until 10:45 pm Eastern Time on Wednesday, although players should check with a lottery retailer in their state for the exact sales cutoff time. Players are advised not to wait until the last minute.

      The odds of winning the jackpot are approximately 1 in 292 million. The odds of winning any of the Powerball prizes are approximately 1 in 25.

      Powerball tickets cost $2 each.

      Lottery players can see an after-tax analysis of the current Powerball jackpot by visiting USA Mega's Jackpot Analysis page.

      Powerball features nine different prize levels, ranging from $4 all the way up to the jackpot. Players can win even if they just match one number — the Powerball number.

      All states except California also offer the Power Play option for an extra $1 per ticket purchased. The Power Play multiplies any non-jackpot prizes won by the Power Play number drawn that evening.

      Players who purchase the Power Play and win second prize will automatically have their prize increased by 2x to $2 million.

      Top 25 United States lottery jackpots of all time

      Wednesday's Powerball jackpot currently stands tied for the 6th-largest lottery jackpot of all time in the United States.  That position may rise again before the drawing, as lotteries are typically conservative in their initial estimates, and brisk sales may push the jackpot estimate higher by draw time.

      1. Mega Millions: $656 million, Mar. 30, 2012 - Illinois, Kansas, Maryland
      2. Mega Millions: $648 million, Dec. 17, 2013 - California, Georgia
      3. Powerball: $590.5 million, May 18, 2013 - Florida
      4. Powerball: $587.5 million, Nov. 28, 2012 - Arizona, Missouri
      5. Powerball: $564.1 million, Feb. 7, 2015 - North Carolina, Puerto Rico, Texas
      6. Powerball: $450 million, Jan. 6, 2016 - Preliminary estimate, not won yet
      7. Powerball: $448.4 million, Aug. 7, 2013 - Minnesota, New Jersey (2)
      8. Powerball: $425.3 million, Feb. 19, 2014 - California
      9. Mega Millions: $414 million, Mar. 18, 2014 - Florida, Maryland
      10. Powerball: $399.4 million, Sep. 18, 2013 - South Carolina
      11. Mega Millions: $390 million, Mar. 6, 2007 - Georgia, New Jersey
      12. Mega Millions: $380 million, Jan. 4, 2011 - Idaho, Washington
      13. Powerball: $365 million, Feb. 18, 2006 - Nebraska
      14. The Big Game: $363 million, May 9, 2000 - Illinois, Michigan
      15. Powerball: $340 million, Oct. 19, 2005 - Oregon
      16. Powerball: $338.3 million, Mar. 23, 2013 - New Jersey
      17. Powerball: $337 million, Aug. 15, 2012 - Michigan
      18. Powerball: $336.4 million, Feb. 11, 2012 - Rhode Island
      19. Mega Millions: $336 million, Aug. 28, 2009 - California, New York
      20. The Big Game: $331 million, Apr. 16, 2002 - Georgia, Illinois, New Jersey
      21. Mega Millions: $330 million, Aug. 31, 2007 - Maryland, New Jersey, Texas, Virginia
      22. Mega Millions: $326 million, Nov. 4, 2014 - New York
      23. Mega Millions: $319 million, Mar. 25, 2011 - New York
      24. Mega Millions: $315 million, Nov. 15, 2005 - California
      25. Powerball: $314.9 million, Dec. 25, 2002 - West Virginia

      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 6th-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. Powerball: $381.1 million cash, Feb. 7, 2015 ($564.1 million annuity) - North Carolina, Puerto Rico, Texas
      4. Powerball: $370.9 million cash, May 18, 2013 ($590.5 million annuity) - Florida
      5. Mega Millions: $347.6 million cash, Dec. 17, 2013 ($648 million annuity) - California, Georgia
      6. Powerball: $275.4 million cash, Jan. 6, 2016 ($450 million annuity) - Preliminary estimate, not won yet
      7. Powerball: $258.2 million cash, Aug. 7, 2013 ($448.4 million annuity) - Minnesota, New Jersey (2)
      8. Mega Millions: $240 million cash, Jan. 4, 2011 ($380 million annuity) - Idaho, Washington
      9. Mega Millions: $233.1 million cash, Mar. 6, 2007 ($390 million annuity) - Georgia, New Jersey
      10. Mega Millions: $230.9 million cash, Mar. 18, 2014 ($414 million annuity) - Florida, Maryland
      11. Powerball: $227.8 million cash, Feb. 19, 2014 ($425.3 million annuity) - California
      12. Powerball: $224.7 million cash, Aug. 15, 2012 ($337 million annuity) - Michigan
      13. Powerball: $223.3 million cash, Sep. 18, 2013 ($399.4 million annuity) - South Carolina
      14. Mega Millions: $214 million cash, Aug. 28, 2009 ($336 million annuity) - California, New York
      15. Powerball: $211 million cash, Mar. 23, 2013 ($338.3 million annuity) - New Jersey
      16. Powerball: $210 million cash, Feb. 11, 2012 ($336.4 million annuity) - Rhode Island
      17. Mega Millions: $202.9 million cash, Mar. 25, 2011 ($319 million annuity) - New York
      18. Mega Millions: $197.5 million cash, Nov. 4, 2014 ($326 million annuity) - New York
      19. Powerball: $197.4 million cash, Sep. 30, 2015 ($310.5 million annuity) - Michigan
      20. Mega Millions: $194.4 million cash, Aug. 31, 2007 ($330 million annuity) - Maryland, New Jersey, Texas, Virginia
      21. Mega Millions: $185 million cash, Nov. 15, 2005 ($315 million annuity) - California
      22. The Big Game: $180 million cash, May 9, 2000 ($363 million annuity) - Illinois, Michigan
      23. Mega Millions: $177.3 million cash, Jan. 16, 2015 ($270 million annuity) - Illinois
      24. Powerball: $177.3 million cash, Feb. 18, 2006 ($365 million annuity) - Nebraska
      25. Powerball: $170.5 million cash, Dec. 25, 2002 ($314.9 million annuity) - West Virginia

      The number of jackpot cash values in the top 25, by lottery game, are:

      • Powerball: 13
      • Mega Millions: 11
      • The Big Game: 1

      News story photo(Click to display full-size in gallery)

      If you play, maybe these states would be your best bet!

       

      States where lottery winners could remain anonymous

      Currently six states — Delaware, Kansas, Maryland, North Dakota, Ohio and South Carolina — allow lottery winners to remain anonymous. And four more — Colorado, Connecticut, Vermont and Massachusetts — allow anonymity if the winners claim their winnings through a trust.

      We all get a lot out of lotteries!

        MaximumMillions's avatar - Lottery-013.jpg

        Germany
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        March 8, 2015
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        Posted: January 6, 2016, 5:19 am - IP Logged

        By the way I dreamt a (chubby) Hawai'ian won it. Just wanted tp put that out there. LOL

          MaximumMillions's avatar - Lottery-013.jpg

          Germany
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          March 8, 2015
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          Posted: January 6, 2016, 5:36 am - IP Logged

          Dear God:

          I don't go to strip clubs with wads of cash left in unlocked cars; I'm not an alcoholic, drug addict or recovering addict of any kind; I've never been involved in an armed robbery; I don't have a boyfriend with a condiment as a nickname; I've never, nor will I ever, buy 400 pairs of the same pants.

          I know I'm not the kind of person to have or do any of these things, even so, could you please let me win this one?

          All of the above is why people win.

          I'm sorry Teddi, you need to make some changes if you want to win the big bucks!

            MaximumMillions's avatar - Lottery-013.jpg

            Germany
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            March 8, 2015
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            Posted: January 6, 2016, 5:39 am - IP Logged

            You wonder if you can get a refund on a lottery ticket?  Are you serious?  Hopefully you were kidding.

            It's not surprising to see a mainstream news source claiming lotteries are bad bets.  In case you haven't noticed, every mainstream news source says playing ANY lottery game is stupid.

            Tell that to the guy who wins.

            Also, I wasn't aware that spending $2 on a lottery ticket was such a big deal to the folks at Business Insider.  The reporter probably spent double that amount on their last cup of coffee.  Funny how they spend all that time obsessing over a $2 lottery ticket.  Pretty dumb.

            Exactly what I don't get, people make multiple 10$ Starbucks runs a day but get all preachy over a 5$ lottery ticket entertainment-buy that could possibly have you fly first class for the rest of your live instead of giving you diabetes.

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              Posted: January 6, 2016, 6:10 am - IP Logged

              The cash value suggests that the lottery is supposing it will have sales of $220M, or sell 110M tickets.

              The randomized Poisson distribution for the numbers of winners is as in the following table:

               

              k, number of winnersp(m,k)
              067.58%
              126.48%
              25.19%
              30.68%
              40.07%
              50.01%

               

              The most probable outcome at this point is still another rollover, which is an indication of how hard they've made Powerball to win.

              The pretax expectation value is a rather poor 0.60.

              Don't spend your last dime, you may regret not having that dime if it rolls again, as is likely as of now.

              YES! I think it will rollover again and when it does it will easily surpass the previous record PB Jackpot of $590.5 Million won by Gloria C. MacKenzie out of Zephyrhills, FL back in 2013. What with the odds higher than they used to be (since the PB change on October 4, 2015) that translates into the lottery having to sell every permutation and combination possible to guarantee a winner.  Thing is that since odds are now higher there can be a set or sets of numbers that simply never get sold and that the ticket you're holding has the same losing numbers as others out there.  Such is the reality of upping the odds so this could possibly even get to $1,000,000,000 and yes that's a Billion dollars (or as I like to tell my friends) that's one thousand Million dollars OR 10,000,000 $100 dollar bills.

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                Simpsonville
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                Posted: January 6, 2016, 6:26 am - IP Logged

                By the way I dreamt a (chubby) Hawai'ian won it. Just wanted tp put that out there. LOL

                Chubby Hawai'ian would have to fly to the states to get his ticket since HI is too dependent on tourism to ever consider a lottery there.  If they ever did, it would be strange to have an afternoon cut-off time for purchases due to the time difference.

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                  Germany
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                  Posted: January 6, 2016, 6:36 am - IP Logged

                  Chubby Hawai'ian would have to fly to the states to get his ticket since HI is too dependent on tourism to ever consider a lottery there.  If they ever did, it would be strange to have an afternoon cut-off time for purchases due to the time difference.

                  I know, but him being Hawaiian doesn't mean he couldn't have bought it on a trip from Hawaii to Cali. Or maybe he "immigrated" to the continental US.

                    Teddi's avatar - Lottery-008.jpg

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                    Posted: January 6, 2016, 7:58 am - IP Logged

                    All of the above is why people win.

                    I'm sorry Teddi, you need to make some changes if you want to win the big bucks!

                    Oh darn.

                    Okay, what if i bought 400 pairs of pants but they were different styles and colors. Would that work?

                    I might wake up early and go running.  I might also wake up and win the lottery.

                    The odds are about the same.

                      MaximumMillions's avatar - Lottery-013.jpg

                      Germany
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                      Posted: January 6, 2016, 8:37 am - IP Logged

                      Oh darn.

                      Okay, what if i bought 400 pairs of pants but they were different styles and colors. Would that work?

                      Only if you don't wear them but keep them on display under glass domes maybe.

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                        Posted: January 6, 2016, 9:30 am - IP Logged

                        Eh. Someone already won it a few weeks after the matrix was changed. So, not impossible.

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                          United States
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                          Posted: January 6, 2016, 9:36 am - IP Logged

                          Eh. Someone already won it a few weeks after the matrix was changed. So, not impossible.

                          Actually after October 4th 2015 (the day they changed PB to the higher odds currently in force), there were 9 drawings before someone hit it. That equates to 4 and a half weeks before it was hit so a bit more than a few weeks. Just being anal. My apologies if you're offended. Frankly speaking though, I was surprised that it hit so quickly what with the odds being so much higher.

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                            Germany
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                            Posted: January 6, 2016, 9:38 am - IP Logged

                            Actually after October 4th 2015 (the day they changed PB to the higher odds currently in force), there were 9 drawings before someone hit it. That equates to 4 and a half weeks before it was hit so a bit more than a few weeks. Just being anal. My apologies if you're offended. Frankly speaking though, I was surprised that it hit so quickly what with the odds being so much higher.

                            I mean, of course it can be hit at any time provided at least one ticket is sold, but seeing how even the highest jackpots reached rolled after this level at "easier" odds I agree that this could possibly keep rolling for another 4 weeks like the JP right around the matrix change, as you mentioned.

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                              United States
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                              Posted: January 6, 2016, 9:55 am - IP Logged

                              I could be wrong but I think this would be quite a stretch. They would need nearly $200 million sales more than their original projection....on a Wednesday.....

                              Now to start the next drawing? Sure, though I am thinking it would be closer to $600M.

                              Yeah if nobody hits it Wednesday night then yeah it will start at $600M for the Saturday drawing but ticket sales will shoot up substantially because everybody will be talking about how the PB has NEVER been that high before (previous being the $590.5M win) so a lot of people who would normally sit out or have given up as a result of the newer, higher odds will jump in just because everybody they know is jumping in also.  You know the talk of the town kind of thing or the "since everybody is doing it then it must be THE thing to do" with some people actually losing their minds....and money.