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$422 MILLION: Powerball climbs again on rollover

PowerballPowerball: $422 MILLION: Powerball climbs again on rollover
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8th-largest cash value in US history

By Todd Northrop

This week Powerball will be the hot ticket, featuring a lump-sum cash payout of nearly $300 million.

The new high-water mark of $422 million for the current Powerball annuity jackpot estimate was achieved after no winning tickets were sold for Saturday night's $391.1 million grand prize.

The lump-sum cash payout value of Wednesday's Powerball jackpot is $290 million — the 8th-largest ever recorded in United States lottery history.  (See top 25 annuity and cash values below.)

Players looking to calculate what they would receive after the initial federal and state tax withholdings can find it all pre-calculated for each Powerball jurisdiction on the Jackpot Analysis page at USA Mega, a web site devoted to the Powerball and Mega Millions multi-state lottery games.

Pennsylvania players can mourn the loss of their state tax-free status, since Pennsylvania just made lottery prizes subject to the state's 3.07% income tax rate. (See Pennsylvania lottery winners now subject to state tax on prizes, Lottery Post, Jul. 20, 2016.)

The largest Powerball jackpot ever awarded was on January 13, 2016, when three tickets from California, Florida, and Tennessee shared a $1.6 billion grand prize.  The Florida and Tennessee winners claimed their prizes quickly, but the California winner waited until last week to claim their share.

Players should note that jackpot amounts are conservative estimates provided by the lotteries, and are often somewhat higher by the time the drawing occurs.  For example, the original estimate for Saturday's drawing was $390 million, but by the time all the proceeds were counted just before draw-time, the jackpot had swelled to $391.1 million.

Wednesday's mammoth prize is the result of 22 consecutive draws without a winner.  The run-up started as a $40 million prize on May 11.

The winning numbers for Saturday, July 23, 2016 were 5, 7, 23, 35, and 39, with Powerball number 11.  The Power Play number was 2.

In addition to the jackpot going unclaimed, the first five numbers were too challenging for even one ticket to match, so nobody won the second prize of $1 million.

The California prize pool for second prize was $1,160,469 this drawing, which would have been split by any players matching all five numbers in that state. 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.

43 tickets matched four white numbers plus the Powerball and won $50,000.  Of those tickets, 5 were purchased with the Power Play option, increasing the prize to $100,000, and 4 of the tickets were sold in California, where the prize was worth $21,915 this drawing.

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. 

Following the Saturday drawing, the Powerball annuity jackpot estimate was raised $30.9 million from its previous amount of $391.1 million. The cash value was raised by $19.7 million from its previous amount of $271.3 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, second-prize winners have their prizes automatically doubled to $2 million, while all other non-jackpot prizes are multiplied by the Power Play number drawn that evening. All prize payout amounts, including Power Play multipied prizes, 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 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 tied for the 11th-largest lottery jackpot of all time in the United States.  That position may rise before the drawing Wednesday night, as lotteries are typically conservative in their initial estimates, and brisk sales may push the jackpot estimate higher by draw time.

  1. Powerball: $1.5864 billion, Jan. 13, 2016 - California, Florida, Tennessee
  2. Mega Millions: $656 million, Mar. 30, 2012 - Illinois, Kansas, Maryland
  3. Mega Millions: $636 million, Dec. 17, 2013 - California, Georgia
  4. Powerball: $590.5 million, May 18, 2013 - Florida
  5. Powerball: $587.5 million, Nov. 28, 2012 - Arizona, Missouri
  6. Powerball: $564.1 million, Feb. 7, 2015 - North Carolina, Puerto Rico, Texas
  7. Mega Millions: $540 million, Jul. 8, 2016 - Indiana
  8. Powerball: $448.4 million, Aug. 7, 2013 - Minnesota, New Jersey (2)
  9. Powerball: $429.6 million, May 7, 2016 - New Jersey
  10. Powerball: $425.3 million, Feb. 19, 2014 - California
  11. Powerball: $422 million, Jul. 27, 2016 - Preliminary estimate, not won yet
  12. Mega Millions: $414 million, Mar. 18, 2014 - Florida, Maryland
  13. Powerball: $399.4 million, Sep. 18, 2013 - South Carolina
  14. Mega Millions: $390 million, Mar. 6, 2007 - Georgia, New Jersey
  15. Mega Millions: $380 million, Jan. 4, 2011 - Idaho, Washington
  16. Powerball: $365 million, Feb. 18, 2006 - Nebraska
  17. The Big Game: $363 million, May 9, 2000 - Illinois, Michigan
  18. Powerball: $340 million, Oct. 19, 2005 - Oregon
  19. Powerball: $338.3 million, Mar. 23, 2013 - New Jersey
  20. Powerball: $337 million, Aug. 15, 2012 - Michigan
  21. Powerball: $336.4 million, Feb. 11, 2012 - Rhode Island
  22. Mega Millions: $336 million, Aug. 28, 2009 - California, New York
  23. The Big Game: $331 million, Apr. 16, 2002 - Georgia, Illinois, New Jersey
  24. Mega Millions: $330 million, Aug. 31, 2007 - Maryland, New Jersey, Texas, Virginia
  25. Mega Millions: $321 million, Nov. 4, 2014 - New York

The number of jackpots in the top 25, by lottery game, are:

  • Powerball: 14
  • Mega Millions: 9
  • 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 8th-largest cash value in U.S. history.

  1. Powerball: $983.5 million cash, Jan. 13, 2016 ($1.5864 billion annuity) - California, Florida, Tennessee
  2. Mega Millions: $471 million cash, Mar. 30, 2012 ($656 million annuity) - Illinois, Kansas, Maryland
  3. Powerball: $384.7 million cash, Nov. 28, 2012 ($587.5 million annuity) - Arizona, Missouri
  4. Powerball: $381.1 million cash, Feb. 7, 2015 ($564.1 million annuity) - North Carolina, Puerto Rico, Texas
  5. Mega Millions: $380.8 million cash, Jul. 8, 2016 ($540 million annuity) - Indiana
  6. Powerball: $370.9 million cash, May 18, 2013 ($590.5 million annuity) - Florida
  7. Mega Millions: $347.6 million cash, Dec. 17, 2013 ($636 million annuity) - California, Georgia
  8. Powerball: $291 million cash, Jul. 27, 2016 ($422 million annuity) - Preliminary estimate, not won yet
  9. Powerball: $284 million cash, May 7, 2016 ($429.6 million annuity) - New Jersey
  10. Powerball: $258.2 million cash, Aug. 7, 2013 ($448.4 million annuity) - Minnesota, New Jersey (2)
  11. Mega Millions: $240 million cash, Jan. 4, 2011 ($380 million annuity) - Idaho, Washington
  12. Mega Millions: $233.1 million cash, Mar. 6, 2007 ($390 million annuity) - Georgia, New Jersey
  13. Mega Millions: $230.9 million cash, Mar. 18, 2014 ($414 million annuity) - Florida, Maryland
  14. Powerball: $227.8 million cash, Feb. 19, 2014 ($425.3 million annuity) - California
  15. Powerball: $224.7 million cash, Aug. 15, 2012 ($337 million annuity) - Michigan
  16. Powerball: $223.3 million cash, Sep. 18, 2013 ($399.4 million annuity) - South Carolina
  17. Mega Millions: $214 million cash, Aug. 28, 2009 ($336 million annuity) - California, New York
  18. Powerball: $211 million cash, Mar. 23, 2013 ($338.3 million annuity) - New Jersey
  19. Powerball: $210 million cash, Feb. 11, 2012 ($336.4 million annuity) - Rhode Island
  20. Mega Millions: $202.9 million cash, Mar. 25, 2011 ($319 million annuity) - New York
  21. Mega Millions: $197.5 million cash, Nov. 4, 2014 ($321 million annuity) - New York
  22. Powerball: $197.4 million cash, Sep. 30, 2015 ($310.5 million annuity) - Michigan
  23. Mega Millions: $194.4 million cash, Aug. 31, 2007 ($330 million annuity) - Maryland, New Jersey, Texas, Virginia
  24. Powerball: $191.9 million cash, Mar. 2, 2016 ($291.4 million annuity) - Florida
  25. Mega Millions: $185 million cash, Nov. 15, 2005 ($315 million annuity) - California

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

  • Powerball: 14
  • Mega Millions: 11

Lottery Post Staff

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152 comments. Last comment 4 months ago by MaximumMillions.
Page 1 of 11
TheMeatman2005's avatar - lightening
Brooklyn, NY
United States
Member #169723
October 29, 2015
877 Posts
Offline
Posted: July 24, 2016, 11:45 am - IP Logged

I want to win so I can say..... 

The Meatman

“The quickest way to double your money is to fold it in half and put it in your back pocket.” Will Rogers

Winning happens in a flash, Like A Bolt Of Lightning!  Patriot

    Drenick1's avatar - villiarna
    USA
    United States
    Member #152799
    February 25, 2014
    1092 Posts
    Offline
    Posted: July 24, 2016, 11:59 am - IP Logged

    Win (any amount) or lose, I'm still keeping my job.

      Romancandle's avatar - moon
      Upacreek
      United States
      Member #136306
      December 8, 2012
      428 Posts
      Offline
      Posted: July 24, 2016, 12:00 pm - IP Logged

      Well now the JP should finally get some attention... Here we goDance

      -RC

        dpoly1's avatar - driver
        PA
        United States
        Member #66141
        October 16, 2008
        1672 Posts
        Offline
        Posted: July 24, 2016, 12:00 pm - IP Logged

        Patriot

        I'm ready Already!

        One Ticket ........ One Winner!

        $$$$$$

        Dance

        dpoly1 - Playing the lottery to save the jobs of those that build, transport, sell & maintain luxury items! -

         

        Eschew Poverty ........... Vote Conservative!

          HoLeeKau's avatar - YheaShea
          Idaho
          United States
          Member #94283
          July 17, 2010
          2284 Posts
          Offline
          Posted: July 24, 2016, 12:01 pm - IP Logged

          And again, no 2nd prize winner.  There's something wrong with that!

            Romancandle's avatar - moon
            Upacreek
            United States
            Member #136306
            December 8, 2012
            428 Posts
            Offline
            Posted: July 24, 2016, 12:05 pm - IP Logged

            And again, no 2nd prize winner.  There's something wrong with that!

            I Agree! 

            JPs at this level should see more 2nd place winners... All that hype with the the matrix changes for both games and it's not happening consistently enough IMO.

            -RC

              hearsetrax's avatar - 0118

              United States
              Member #52345
              May 21, 2007
              2657 Posts
              Offline
              Posted: July 24, 2016, 12:30 pm - IP Logged

              time to toss away another $2 - 4 dollars into the green hole of no return

                Avatar
                Kentucky
                United States
                Member #32652
                February 14, 2006
                7308 Posts
                Offline
                Posted: July 24, 2016, 12:33 pm - IP Logged

                I Agree! 

                JPs at this level should see more 2nd place winners... All that hype with the the matrix changes for both games and it's not happening consistently enough IMO.

                There was 24 million less tickets sold than when MM had a advertised $390 million jackpot (33,723,893 PB and 57,727,651 MM). But mathematically there should be at least two 5 + 0 winners.

                  Avatar

                  United States
                  Member #173496
                  March 5, 2016
                  92 Posts
                  Offline
                  Posted: July 24, 2016, 12:33 pm - IP Logged

                  I am surprised it only rose by $1 million before the draw.

                  At 23 draws to get just break the $400 million mark....people have really set their thresholds high before they jump in. Clearly that pocket trauma from the Jan 13th draw is still very fresh and raw for many (including myself)

                   

                  Looking forward to sticking it to them at work....why work for others when you can be your own darn boss!!!!!

                    zephbe's avatar - animal butterfly.jpg
                    South Carolina
                    United States
                    Member #77167
                    July 15, 2009
                    554 Posts
                    Offline
                    Posted: July 24, 2016, 12:35 pm - IP Logged

                    Your odds of hitting the jackpot are the same no matter how high or low the jackpot is.

                    Every champion was once a contender who refused to give up.-Rocky Balboa

                    “Don’t let someone who gave up on their dreams talk you out of going after yours.” – Zig Ziglar

                      Avatar

                      United States
                      Member #135804
                      November 29, 2012
                      318 Posts
                      Offline
                      Posted: July 24, 2016, 12:41 pm - IP Logged

                      I want it! Naughty

                        rcbbuckeye's avatar - Lottery-043.jpg
                        Texas
                        United States
                        Member #55889
                        October 23, 2007
                        5595 Posts
                        Offline
                        Posted: July 24, 2016, 12:43 pm - IP Logged

                        I want to win so I can say..... 

                        Me too!!!!!

                        CAN'T WIN IF YOU'RE NOT IN

                        A DOLLAR AND A DREAM (OR $2)

                          gocart1's avatar - lighthouse
                          ONEONTA,NEW YORK
                          United States
                          Member #30516
                          January 17, 2006
                          419 Posts
                          Offline
                          Posted: July 24, 2016, 12:54 pm - IP Logged

                          PartyUS FlagParty

                          WOOOOOOOO  HOOOOOOOO

                            LottoMetro's avatar - Lottery-024.jpg
                            Happyland
                            United States
                            Member #146344
                            September 1, 2013
                            1129 Posts
                            Offline
                            Posted: July 24, 2016, 1:03 pm - IP Logged

                            There was 24 million less tickets sold than when MM had a advertised $390 million jackpot (33,723,893 PB and 57,727,651 MM). But mathematically there should be at least two 5 + 0 winners.

                            For last night's sales, 5% of the time there will be no 5+0 winner.

                             

                            I am not ready to hop aboard the hype train yet. We're barely entering the 80th percentile and I am thinking it will be another 10 rollovers or so before I am interested. Greedy me LOL

                            If the chances of winning the jackpot are so slim, why play when the jackpot is so small? Your chances never change, but the potential payoff does.
                            If a crystal ball showed you the future of the rest of your life, and in that future you will never win a jackpot, would you still play?

                            2016: -48.28% (13 tickets) ||
                            P&L % = Total Win($)/Total Wager($) - 1