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$478 MILLION: Powerball jackpot surges into top 10

PowerballPowerball: $478 MILLION: Powerball jackpot surges into top 10
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8th-largest US jackpot ever

By Todd Northrop

July has shaped up to be a sizzling hot month for lottery jackpot chasers, first with Mega Millions, and now with Powerball, each offering up a grand prizes of around a half-billion dollars.

Between now and Saturday evening, anyone can walk into a store and buy a lottery ticket for a couple of bucks that has the potential of winning $478 million — which may quite possibly be much higher by the time the Powerball drawing kicks off Saturday night.

That's because lotteries typically are very conservative in their initial jackpot estimates, like we saw with Wednesday's Powerball drawing. The initial estimate Sunday morning was $422 million, but by the time all the proceeds were counted before the drawing Wednesday night, the jackpot had swelled to $434.8 million.

Seasoned lottery players keep an eye on the lump-sum cash value of the jackpot, and the initial estimate is just as eye-popping: $330.6 million. And likely to grow even bigger before Saturday.

When compared against all lottery drawings conducted in United States lottery history, Saturday's Powerball jackpot ranks 8th all-time, and the cash value also ranks as number 8 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 January 13, 2016, drawing. Three winning tickets from California, Florida, and Tennessee split a world-record $1.6 billion grand prize.

Saturday's mammoth jackpot is the result of 23 consecutive draws without a winner.  The run-up started as a $40 million prize on May 11.

The winning numbers for Wednesday, July 27, 2016 were 10, 47, 50, 65, and 68, with Powerball number 24.  The Power Play number was 2.

Even though nobody won the jackpot Wednesday, 4 lucky players matched the first 5 numbers for a $1,000,000 prize: 1 from Florida, 1 from Ohio, 1 from Pennsylvania, and 1 from Virginia.

Only one of the second-prize winners purchased the Power Play option — the ticket sold in Florida.  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. 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.

54 tickets matched four white numbers plus the Powerball and won $50,000.  Of those tickets, 7 were purchased with the Power Play option, increasing the prize to $100,000, and 7 of the tickets were sold in California, where the prize was worth $19,186 this drawing.

Following the Wednesday drawing, the Powerball annuity jackpot estimate was raised $43.2 million from its previous amount of $434.8 million and the cash value was raised by $30.8 million from its previous amount of $299.8 million.

The next Powerball drawing will take place Saturday 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

Saturday's Powerball jackpot currently stands as the 8th-largest lottery jackpot of all time in the United States, and the 5th-largest Powerball jackpot ever.  Brisk sales will almost certainly 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: $478 million, Jul. 30, 2016 - Preliminary estimate, not won yet
  9. Powerball: $448.4 million, Aug. 7, 2013 - Minnesota, New Jersey (2)
  10. Powerball: $429.6 million, May 7, 2016 - New Jersey
  11. Powerball: $425.3 million, Feb. 19, 2014 - California
  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: $330.6 million cash, Jul. 30, 2016 ($478 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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98 comments. Last comment 4 months ago by MoneyMike$.
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whiteballz's avatar - Lottery-015.jpg
Nutley, New Jersey
United States
Member #131058
August 1, 2012
875 Posts
Offline
Posted: July 28, 2016, 9:27 am - IP Logged

I want it.

.

    TheMeatman2005's avatar - lightening
    Brooklyn, NY
    United States
    Member #169723
    October 29, 2015
    878 Posts
    Offline
    Posted: July 28, 2016, 9:32 am - IP Logged

    I'm ready....I'm set.....now all I need to do is GO buy my ticket!

    I will be in it to win it. Good luck to all... especially ME! Yes Nod

    Party

    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

      LiveInGreenBay's avatar - driver
      Green Bay
      United States
      Member #169391
      October 15, 2015
      1246 Posts
      Online
      Posted: July 28, 2016, 9:39 am - IP Logged

      Someone in Green Bay won 50K in powerball and it wasn't me.  Crying

      Never give up.  Banana

        Avatar
        New Member
        Los angels, california
        United States
        Member #176200
        July 25, 2016
        22 Posts
        Offline
        Posted: July 28, 2016, 9:56 am - IP Logged

        MESSAGE TO Power ball Player's......

         

         

        The Power ball. Will RISE AGAIN $2.5 Billion dollar's.  I Will Win the Jackpot. The First Youngest Power ball Winner With $1.2 Billion Dollar's.... 

         

         

        Thank You

          dpoly1's avatar - driver
          PA
          United States
          Member #66141
          October 16, 2008
          1672 Posts
          Offline
          Posted: July 28, 2016, 10:07 am - IP Logged

          DrumI'll take it! $$$$$$$$$$$

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

           

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

            Avatar

            United States
            Member #169911
            November 6, 2015
            57 Posts
            Offline
            Posted: July 28, 2016, 10:22 am - IP Logged

            I smell another billion dollar jackpot.

              Avatar
              Ga
              United States
              Member #120454
              December 20, 2011
              141 Posts
              Offline
              Posted: July 28, 2016, 10:27 am - IP Logged

              Ill put my $20 in Saturday. Pfff split 10 ways still 22.8 million I'll take that.

                music*'s avatar - nw bookeep.jpg
                Happy California
                United States
                Member #157856
                August 2, 2014
                1522 Posts
                Offline
                Posted: July 28, 2016, 10:29 am - IP Logged

                Shocked A Californian would keep $200 million after taxes. If you lived on a budget you could make this last for your lifetime. You will need an Asset Protection plan. Which will include an Irrevocable Life Insurance trust- ILIT. Other types of Trusts. Umbrella Insurance. LLC, FLP, FLP stands for Family Limited Partnership.

                 It would be interesting to invest a portion and watch it grow and bring in profits.

                 I will research Executive Protection Firm. Security will be needed.

                Dance Thank You, Todd, for bringing us the Top 25!

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

                 Attributed to Joe E. Lewis and others

                  Avatar
                  New Member
                  Los angels, california
                  United States
                  Member #176200
                  July 25, 2016
                  22 Posts
                  Offline
                  Posted: July 28, 2016, 11:16 am - IP Logged

                  I smell another billion dollar jackpot.

                  That Jackpot Will RISE TO Power AGAIN $2.5 Billion Dollar's........ I Will Win be the Winner

                   

                   

                  Thank You

                    noise-gate's avatar - images q=tbn:ANd9GcR91HDs4UJhjxO7cmeMQWZ5lB_FOcMLOGicau4V74R45tDgPWrr
                    Bay Area - California
                    United States
                    Member #136477
                    December 12, 2012
                    4108 Posts
                    Offline
                    Posted: July 28, 2016, 11:35 am - IP Logged

                    I am ready to be in the top 10- all the best people.

                    People who say it cannot be done should not interrupt those who are doing it- George Bernard Shaw.

                      Avatar
                      md
                      United States
                      Member #14047
                      April 20, 2005
                      579 Posts
                      Offline
                      Posted: July 28, 2016, 12:16 pm - IP Logged

                      I do not mind becoming an immigrant in the Land of Wealth. I'm well able to possess this JACKPOT.#have a plan #enjoythejourney

                        pickone4me's avatar - 021414tvlies zpsa453b327.jpg
                        Wisconsin
                        United States
                        Member #104962
                        January 23, 2011
                        1075 Posts
                        Offline
                        Posted: July 28, 2016, 12:33 pm - IP Logged

                        The local liberal mainstream media stations are taking notice of the powerball jackpot now too.  The people that say it would be easy to go from poor to rich are really nuts,  All the low life's within the area will take notice,  so will family,  and unknown family,  and so on.    Think of it like this,  "more money,  more problems"

                        Trump 2016!

                          music*'s avatar - nw bookeep.jpg
                          Happy California
                          United States
                          Member #157856
                          August 2, 2014
                          1522 Posts
                          Offline
                          Posted: July 28, 2016, 12:33 pm - IP Logged

                          I do not mind becoming an immigrant in the Land of Wealth. I'm well able to possess this JACKPOT.#have a plan #enjoythejourney

                          Cool delS, I like your thinking. Especially in Maryland, an anonymous State. Cheers

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

                           Attributed to Joe E. Lewis and others

                            music*'s avatar - nw bookeep.jpg
                            Happy California
                            United States
                            Member #157856
                            August 2, 2014
                            1522 Posts
                            Offline
                            Posted: July 28, 2016, 12:42 pm - IP Logged

                            The local liberal mainstream media stations are taking notice of the powerball jackpot now too.  The people that say it would be easy to go from poor to rich are really nuts,  All the low life's within the area will take notice,  so will family,  and unknown family,  and so on.    Think of it like this,  "more money,  more problems"

                              I will be taking Robert Pagliarini's advice. He is the author of "Sudden Wealth". He recommends that you create a one or two line reply. Memorize it and use it when asked for a gift, loan, or anything else. It could be something like this,"I cannot reply to your request now but I will give your information to my Financial Adviser" "He will get back to you with more questions".  If they continue to ask just repeat your reply.

                             This is creating a business like exchange. Go Slow. "He or She who has the gold rules". They play by your rules now.

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

                             Attributed to Joe E. Lewis and others