Massive sales triggers jackpot increase to #1 all-time
3rd-largest cash value in history
By Todd Northrop
Due to a ticket-buying frenzy for Saturday's Powerball drawing, the Multi-State Lottery Association (MUSL) has raised the official Powerball lottery jackpot estimate to $1.6 billion, setting the record for the largest lottery jackpot in history.
The all-important lump-sum cash value of the jackpot has been raised to $782.4 million, which is the third-largest lottery cash value of all time. The top-25 annuity and cash value jackpots are listed below.
The Powerball drawing will be conducted Saturday night at 10:59 pm Eastern Time (7:59 pm Pacific). The mammoth grand prize started at $20 million on Aug. 6, and is the result of 39 drawings with no jackpot winner.
After the Wednesday evening Powerball drawing, when it was determined that there were no jackpot winners, the new jackpot estimate for Saturday was set at $1.5 billion, with a cash value of $745.9 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.
You can weight the tax consequences of that choice state-by-state by visiting the Jackpot Analysis page at USA Mega, a web site devoted to the Powerball and Mega Millions multi-state lottery games. The feature calculates both the initial withholdings and the final tax burden due at the end of the year, and even can show taxes calculated for different IRS filing statuses.
Lottery players seeking to check the winning numbers Saturday night are urged to use USA Mega (www.usamega.com). State lottery websites are normally brought to a standstill during busy periods, while USA Mega normally remains responsive.
Players looking for a nearby lottery retailer — or that out-of-the-way retailer with a smaller line — are encouraged to use Lottery Places, an app for iOS, Android, and Windows that can locate the nearest lottery retailers in every jurisdiction that sells Powerball and Mega Millions. The helpful app can locate lottery stores in the United States, the United Kingdom, Mexico, much of Canada, and the Caribbean.
Some states offer direct online sales, allowing players to bypass the store and purchase tickets from home. States that offer this ability include Colorado (Mega Millions and Powerball), Michigan (Mega Millions and Powerball), Minnesota (Mega Millions and Powerball), Oregon (Mega Millions and Powerball), Texas (Mega Millions and Powerball), and Virginia (Mega Millions and Powerball). Note that some of these links will only work properly for residents of the states mentioned.
Players outside the USA can use a reputable butler service, which provides scanned copies of the purchased lottery tickets securely held on behalf of the customer. In the past, the lottery ticket service was used by people out side the USA to win big jackpots in Oregon and Florida.
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.
Players are advised not to wait until the last minute to buy tickets, as the ticket cutoff time varies between states.
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.
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.
According to the Texas Lottery, if there's no winner for tomorrow night's drawing, the next estimated jackpot for Powerball will be $1.9 billion.
Top 25 United States lottery jackpots of all time
Saturday's Powerball jackpot currently stands as the largest lottery jackpot of all time worldwide.
- Powerball: $1.6 billion, Nov. 5, 2022 (39 rollovers, starting at $20 million) - Prelimiary estimate, not won yet
- Powerball: $1.5864 billion, Jan. 13, 2016 (19 rollovers, starting at $40 million) - California, Florida, Tennessee
- Mega Millions: $1.537 billion, Oct. 23, 2018 (25 rollovers, starting at $40 million) - South Carolina
- Mega Millions: $1.337 billion, Jul. 29, 2022 (29 rollovers, starting at $20 million) - Illinois
- Mega Millions: $1.05 billion, Jan. 22, 2021 (36 rollovers, starting at $20 million) - Michigan
- Powerball: $768.4 million, Mar. 27, 2019 (25 rollovers, starting at $40 million) - Wisconsin
- Powerball: $758.7 million, Aug. 23, 2017 (20 rollovers, starting at $40 million) - Massachusetts
- Powerball: $731.1 million, Jan. 20, 2021 (35 rollovers, starting at $20 million) - Maryland
- Powerball: $699.8 million, Oct. 4, 2021 (40 rollovers, starting at $20 million) - California
- Powerball: $687.8 million, Oct. 27, 2018 (21 rollovers, starting at $40 million) - Iowa, New York
- Mega Millions: $656 million, Mar. 30, 2012 (18 rollovers, starting at $12 million) - Illinois, Kansas, Maryland
- Mega Millions: $648 million, Dec. 17, 2013 (21 rollovers, starting at $12 million) - California, Georgia
- Powerball: $632.6 million, Jan 5, 2022 (39 rollovers, starting at $20 million) - California, Wisconsin
- Powerball: $590.5 million, May 18, 2013 (13 rollovers, starting at $40 million) - Florida
- Powerball: $587.5 million, Nov. 28, 2012 (15 rollovers, starting at $40 million) - Arizona, Missouri
- Powerball: $564.1 million, Feb. 11, 2015 (20 rollovers, starting at $40 million) - North Carolina, Puerto Rico, Texas
- Powerball: $559.7 million, Jan. 6, 2018 (20 rollovers, starting at $40 million) - New Hampshire
- Mega Millions: $543 million, Jul. 24, 2018 (22 rollovers, starting at $40 million) - California
- Mega Millions: $536 million, Jul. 8, 2016 (34 rollovers, starting at $15 million) - Indiana
- Mega Millions: $533 million, Mar. 30, 2018 (23 rollovers, starting at $40 million) - New Jersey
- Mega Millions: $522 million, Jun. 7, 2019 (24 rollovers, starting at $40 million) - California
- Mega Millions: $516 million, May 21, 2021 (26 rollovers, starting at $20 million) - Pennsylvania
- Mega Millions: $502 million, Oct. 14, 2022 (21 rollovers, starting at $20 million) - California, Florida
- Powerball: $487 million, Jul. 30, 2016 (23 rollovers, starting at $40 million) - New Hampshire
- Powerball: $473.1 million, Apr. 27, 2022 (30 rollovers, starting at $20 million) - Arizona
The number of jackpots in the top 25, by lottery game, are:
- Powerball: 14
- Mega Millions: 11
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 3rd-largest cash value in history.
- Powerball: $983.5 million cash, Jan. 13, 2016 ($1.5864 billion annuity) - California, Florida, Tennessee
- Mega Millions: $877.8 million cash, Oct. 23, 2018 ($1.537 billion annuity) - South Carolina
- Powerball: $782.4 million cash, Nov. 5, 2022 ($1.6 billion annuity) - Prelimiary estimate, not won yet
- Mega Millions: $780.5 million cash, Jul. 29, 2022 ($1.337 billion annuity) - Illinois
- Mega Millions: $776.6 million cash, Jan. 22, 2021 ($1.05 billion annuity) - Michigan
- Powerball: $546.8 million cash, Jan. 20, 2021 ($731.1 million annuity) - Maryland
- Powerball: $496 million cash, Oct. 4, 2021 ($699.8 million annuity) - California
- Powerball: $480.5 million cash, Aug. 23, 2017 ($758.7 million annuity) - Massachusetts
- Powerball: $477 million cash, Mar. 27, 2019 ($768.4 million annuity) - Wisconsin
- Mega Millions: $471 million cash, Mar. 30, 2012 ($656 million annuity) - Illinois, Kansas, Maryland
- Powerball: $450.2 million cash, Jan. 5, 2022 ($632.6 million annuity) - California, Wisconsin
- Powerball: $396.2 million cash, Oct. 27, 2018 ($687.8 million annuity) - Iowa, New York
- Powerball: $384.7 million cash, Nov. 28, 2012 ($587.5 million annuity) - Arizona, Missouri
- Powerball: $381.1 million cash, Feb. 11, 2015 ($564.1 million annuity) - North Carolina, Puerto Rico, Texas
- Mega Millions: $378 million cash, Jul. 8, 2016 ($536 million annuity) - Indiana
- Powerball: $370.9 million cash, May 18, 2013 ($590.5 million annuity) - Florida
- Powerball: $352 million cash, Jan. 6, 2018 ($559.7 million annuity) - New Hampshire
- Mega Millions: $349.3 million cash, May 21, 2021 ($516 million annuity) - Pennsylvania
- Mega Millions: $347.6 million cash, Dec. 17, 2013 ($648 million annuity) - California, Georgia
- Powerball: $341.7 million cash, Jul. 30, 2016 ($487 million annuity) - New Hampshire
- Mega Millions: $340 million cash, Jun. 7, 2019 ($522 million annuity) - California
- Mega Millions: $324 million cash, Mar. 30, 2018 ($533 million annuity) - New Jersey
- Mega Millions: $320.5 million cash, Jul. 24, 2018 ($543 million annuity) - California
- Mega Millions: $319.9 million cash, Jun. 9, 2020 ($414 million annuity) - Arizona
- Mega Millions: $314.4 million cash, Sep. 21, 2021 ($431 million annuity) - New York
The number of jackpot cash values in the top 25, by lottery game, are:
- Mega Millions: 13
- Powerball: 12
How To Become Famous In 2022:
Win Saturday's Powerball Jackpot!
crazy $1.6
I'd like to win, but I'll pass on being famous.
I really could use it right now.
Me too
* It's going to be a great weekend, hopefully the whole thing can be won by a LP member or two. We've been patient enough.👍
you and me both LOL
best of luck to those playing 💰
1 Billion 600 Million/ 784 Million Cash does have a rather nice holiday ring to it.
Let the dice roll. In it to win it!
Does anyone know what the yearly annuity payment would be?
Estimated Jackpot is $1.64B! 60% of all combinations will be covered, so 40% chance of a roll! Good luck to one and all! I will be buying at least 21 tickets 🎟
https://www.texaslottery.com/export/sites/lottery/Documents/jackpotestimates/pb20221105.pdf
Its shows you the payment plan for the 1.6B AND if it rolls and goes to 1.9B
the 1.6B is in the far right column
If it was 10 years ago telling people "I won $1.6 billion" would make you sound crazy now it's possible just have to beat the sky high odds and buy that 1 ticket.
Thank you!
You can find that info here at https://www.usamega.com/powerball/jackpot
This will Roll to 2 Billion Dollars . who got that feeling
Thank you!
"784 Million Cash does have a rather nice holiday ring to it. "
I wouldn't turn it down, but it's still 20% shy of actually matching the current record. It will take another roll and making it $110 million beyond the initial announcement of 1.9 billion to set areal record.
FWIW, that $100 million bump was accompanied by another change in interest rates, so the current cash only increased by $36.5 million
As Todd stated, go to USA Mega and pull up jackpot analysis for your state.
Also the 9th Paragraph should be updated. Both Georgia and Kentucky offer on-line ticket sales. Don't know why they are left off. Besides MM & PB they offer a slew of national and local lottery products all available with the click of a button!
You can see on USAMega.
Lottery tax calculator for you just click on the state you live and pick annuity or cash option and type in the Lump sum payment. Good Luck taxact.com/lottery-tax-calculator/
The big question is if I should take the annuity or the cash when I win this one! Normally I would say take the cash, but with the interest rates what they are, the annuity is tempting. Plus, with the annuity payments being so large, I would not have to really worry about investing and could just sit back and live the rest of my life with no worries or stress about investing. Though having $400 million plus after taxes is pretty tempting too!
I have always stated...under 40, take the annuity and over 40, take the lump sum cash value.
I am 44 lol. Right on the cusp of that
Odd question that I am curious about too. I know you can create a lotto club and split the prize however you want. The question though, do all the members of the lotto club have to take the same payout if one wants the annuity and one wants the cash?
All I want to do with create a new life, claim my money anonymously and sail off into the sunset. No fame that will attract( gold diggers, con artists, violent criminals) etc. No thanks!!!
If you win, you will be famous. Stalkers, relatives coming out of woodwork like cockroaches, scammers everywhere. Get used to it. There is a solution to those problems- don't buy any tix!! Ha
I'm not 100% sure, but I think that some state lotteries will issue separate checks for group winners. That includes cash for some and annuities for the rest.
There are some state lotteries that will only issue one check to the person responsible for dispersing the funds to the individual winners.
Baby needs a new pair of shoes....
Time to buy a ticket...
Get some diamond studded Elton John high heels 👠!
3 billion
What would cash payout be?
I think at least 3 winners on Saturday
The annuity interest rates are probable below the rate of inflation.
That means that over time you lose "value".
If you take the lump sum, get yourself a good tax lawyer, and invest in market linked funds (passive... so that they "just track the market".. but there are different funds, so talk to an expert).. then your return should do better than the rate of inflation
That is "just a thought".. so, talk to experts (not just one or two)
Where do you get that 60% of all combinations will be covered?
Cash value increase is now $172 million.. @ $0.70 contributed per line..That works out to about 245,714,285 lines sold (up to 84.09% coverage).. But I don't think anyone is saying how many are duplicates..
Good luck everyone. Waiting to see which State or States gonna eventually win this
The Texas Lottery projected Jackpot analysis says 60% of all combinations will be covered at $1.6B. I am not sure how that % is derived so early (Fri morning). I would say at least 2/3 of all combinations will have been covered by Saturday night. God Bless the winner!
Just as a backup I bought some Megamillions tickets. Gotta hedge my bets. You always want to diversify your portfolio lol
I agree LoL
01-02-03-04-05 + 06
A $3 billion JP?
Current drawing: $782.4m / $1.6b = 48.9%
Hypothetical $3b: 48.9% x 3b = 1.467b
Bonus round, post-tax lump sum: $1.47b x (100% - 37%) = $924.2m
It will be won tonight
long line at Walmart Kiosk machine, the word is out
Almost impossible odds of it going to $3B. If it's not won tonight, it most certainly won't roll past Monday's $2B Jackpot.
Who would be like the Chinese guy and not tell his family about the big jackpot win? Who would divorce his/her spouse to keep all the money? Ha
I highly doubt we don't see the jackpot won tonight, but statistically Mondays draw the least amount in ticket sales. This would mean that there's a higher chance of a win today than Monday.
Personally I'd love to see that combo come out tonight. I think people would be shocked to find out how many people play that combo.
Are you suggesting we will see 2 more rolls, tonight & Monday, setting up a $2.5B Jackpot for Wednesday? It's possible- 33% chance of a roll tonight and 35-40% chance of a roll Monday.
There is a Blood Red Moon & Total Lunar Eclipse next Tuesday.
"I don't think anyone is saying how many are duplicates. "
If all tickets were chosen randomly probability would tell us fairly precisely how many duplicates there are. Once the first 292,000 combinations are sold 1 ticket of the next 1000 can be expected to be a duplicate. And so on. The TX lottery website reports expected sales of about 270 million tickets and 270 million randomly generated tickets would use 60.3% of the combinations. What we don't know is how many non-random tickets are sold, resulting in more duplicates and a lower percentage of combinations in play.
"I am not sure how that % is derived so early (Fri morning). "
They've been selling PB tickets for a very long time, and they know about what percentage of total ticket sales happen each hour that tickets can be sold. If 40% of tickets are typically sold by 10 AM on Friday multiplying those sales by 2.5 gets you fairly close to total sales. It's not perfect, and it seems to be less reliable the bigger the jackpot gets, but it works well enough. FWIW, the estimates are usually a bit conservative.
"Almost impossible odds of it going to $3B."
As of now it got to 1.25 billion without a winner, which is actually about half way to advertising a $3 billion jackpot. If it rolls tonight and Monday then Wednesday's jackpot is likely to be right around 2.5 billion, and the chance of getting there (give or take a minor difference due to interest rate changes) is the same as the chance that got us to the rollover this past Wednesday. If that happens and it rolls we'll see a $3 billion jackpot, assuming players haven't spent all of their money already.
"statistically Mondays draw the least amount in ticket sales. "
That's usually true, but this past Monday sales were bigger than the previous Saturday (for the 1st time, as near as I can tell). Saturday's sales were $197 million and Monday's sales were $263 million. The TX website is showing a forecast of $539 million for tonights drawing and "only" $395 million for Monday's, but I'm guessing an advertised jackpot of 1.9 billion that will likely get bumped to 2 billion would push sales a good bit higher. Of course we need a roll tonight to find out. That's less likely than getting at least 1 winner but there's still a pretty good chance.
"Who would be like the Chinese guy and not tell his family "
At the least I'd hold off for awhile before telling some family members, but not telling your spouse? The neighbors don't need to know why you've moved, but how do you spend even 1% of $30 million without your spouse knowing and having questions?
North Dakota
Holy moly, the final jackpot tally was $1.6568 Billion.
69, 53, 45, 56, 28 Powerball 20
Only one birthday number in the white balls... if there's a combo to rollover, I think this is it
With all high numbers, I think the chance of it rolling to Monday is VERY HIGH! First $2 Billion Jackpot in history!
$2B annuity, $1B cash option!
Can you say SHAZAM?
Got three and Powerball only played 2 tickets
This combo, it just likely will rollover. Very likely.
Qp usually distribute number to some extent. On my tickets I saw only higher number very very rare.
So is for the chosen numbers, highly unlikely. But of course, possible.
What is very likely, is that we are about to see 1B cash value.
Welp, Florida didn't win, I bet they were camera ready
Someone won?
\_/''\_/
Wow just 60%?