By Todd Northrop
There was no jackpot winner in the Saturday night drawing of the multi-state Powerball lottery game, causing the grand prize to increase to an estimated $185 million for Wednesday's drawing.
Saturday was the 11th consecutive Powerball drawing without a jackpot winner. The jackpot run started October 6 as a $40 million jackpot.
The estimated cash value for the new jackpot is $123.7 million. After-tax cash and annuity prize amounts are reported state-by-state on the Jackpot Analysis page at USA Mega, a web site devoted to the Powerball and Mega Millions multi-state lottery games.
Players should note that jackpot amounts are conservative estimates provided by the lotteries, and are often somewhat higher by the time the drawing occurs.
Although there were no jackpot winners Saturday, 4 lucky players matched the first 5 numbers for a $1,000,000 prize: 1 from New Jersey, 1 from New York, 1 from Tennessee, and 1 from Texas.
Of all the second-prize winners, only the ticket from Texas was purchased with the Power Play option for an extra $1. Because they purchased the Power Play, that particular ticket is now worth $2 million.
39 tickets matched four white numbers plus the Powerball and won $10,000. Of those tickets, 7 were purchased with the Power Play option, increasing the prize to $40,000.
The Powerball winning numbers for Saturday, November 10, were 32, 42, 50, 54, and 55, with Powerball number 32. (Because the Powerball number is selected from a different pool of numbers, it is entirely possible — and did actually happen this time — that the Powerball number is the same as one of the first five numbers.)
Following the Saturday drawing, the Powerball annuity jackpot estimate was raised $17 million from its previous amount of $168 million. The cash value was raised by $14.9 million, from its previous amount of $108.8 million.
The next Powerball drawing will take place Wednesday evening 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 now played in 42 states, plus the District of Columbia and the U.S. Virgin Islands. Drawings are Wednesdays and Saturdays at 10:59 pm Eastern Time. Tickets cost $2 each.
The Powerball winning numbers are published at USA Mega (www.usamega.com) minutes after the drawing takes place.
Step back everyone, this one is mine!
me thinks its gonna be a nice Xmas for someone b4 much longer ......
me thinks so to.......
I am overdue. For far too long I have gotten the 2 gifts in 1 treatment since my b-day falls on 25 December. I can handle $185M ($126M lump sum) as "payback"! Not feeling entitled nor am I getting caught up in jackpot hype as I am just as likely to buy an extra play at $40M as I am at $200M...it just depends on the state of greenbacks in my money clip.
How is $185 million "Huge" ???? Sounds like chump change to meee......
And the self-jinxing has started.
Too bad it was you mcginnin.
Think about it, how long has this site been up, how many have claimed a jackpot beforehand, and how many of those have won one?
Next we'll have the barage of those telling us how they're going to spend $185 million that they haven't won yet.
But what if its a jinx to say someone is jinx......
I'm testing my new self-jinxing theory, which essentially is like attracting good Karma in reverse.
My hypothesis is that by tapping in to the anti-energy, anti-world universe, I may be able to harness this reservoir of boundless life force,
to pull of a successful win for this Wednesdays Powerball drawing.
As with any great inventor or innovator, I'm sure there will be certain pitfalls and setbacks, but that's a risk I'm willing to assume.
PARRRRRTAAAAAYYYYY!!!!!!!!!
By merely mentioning that "j" word, you have already "j'ed" yourself.
I'm just so sorry it had to happen to you so early in the day.
Wow!
Someone's feeling good this morning!
compliments of my coffee
I stopped drinking coffee, now I'm questioning my decision.
Sorry but you're too late. FEMA has placed lotto machines at every NYC street corner. All combos have been sold already. Theres still time for MM.
If one of my two tickets hits the jp, I am claiming it the very next day after the draw which is wayyy before the higher taxes on the wealthy kick in.
Bush era tax-cuts are expiring in Dec 31, 2012, no?
New York is wayyyy over due!
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Faites vØs jeux!
In 2013, the top marginal tax rate will be 39.6% for someone making over $382,650. The tax rate you pay is set at the date you won. As long as you win in 2012, you will get the 2012 tax rate.
Weren't the really good tax rates for rich people who earned their money from investments? Lottery winners are taxed at the higher rate as people who actually worked for their money. I would talk to a tax lawyer to get some advice on the best ways of gaming the system.
I would talk to a tax lawyer to get some advice on the best ways of gaming the system.
Is'nt that what playing the lottery is about, getting a big pay check with as little work as possible?
i dont even live in usa, and ill begetting a ticket. wish me luck everyone.
dont even live in usa, and ill begetting a ticket. wish me luck everyone.
I am thinking about winning this jackpot myself. Thanks for letting me win it! Hooray!-weshar75
Jingle $$$$$$$$$$$$$$$$$$$$$$$$$$$$
I like your style RJ, carry a big stick and bash the brains out of the naysayers.
This is very effective technique, when reasoning simply doesn't work like it should.
As I already know I wont be winning it and sorry if I offend anyone I don't mean to but I hope whoever wins is someone that is broke working multiple jobs to help their family and has only bought 1-5 plays not someone who is already well off or even upper class and has enough money to play 10's or 100's of tickets :/
That statement offends me!
I would prefer that a hard working, rich asset manager, who played 5000 lines win this Mega Jackpot.
Wednesday is my 31st birthday!!! I'm going to buy 31 tickets from 31 vendors. Can you see the headlines?
Now when you win, you can get all 31 flavors of ice cream from Baskin-Robbins!
Sounds like a plan! And I like how you said "whenyou win!"
Yes that was by design. Never say or think "if".
Your words and thoughts heavily govern the outcome, of most any event in your life.
Congrat's on your 31st Birthday BTW!
I wholeheartedly agree!
And thank you!!!
There are some players here who claim they buy all their tickets that way for every drawing. We only have their word for it because so far no news paper has thought it was worth writing about.
I think she was implying that if she had won the jackpot, the additional story of how she bought her tickets, would be newsworthy.
$185 million sounds good to me....
my victory speech.
" tks for the 97 mill; from now on my EBT is only going on smokes and hookers. "
<---- ducks for cover
I am wondering if this jackpot will get hit on wednesday or is it going to roll a couple of more times to thanksgiving and a $200 plus million jackpot. Of course I will take any jackpot that I can win but it would be nice to see another large jackpot before the year ends. Good luck to all!-weshar75
I will be doing everything within my power to keep it from rolling again, weshar75, Good Lord willin' and the creek don't rise.
I hope i win so i can put some home heating oil in my tank.I"m down to one arm and one leg after last winter's heat season...lol
Nope.
Italian Blend
As mcginnin56 said, I was implying that my story will be newsworthy when I win. And, as a professional writer, I will write the press release myself!
Lower tax rates 2 ways. Dividend income, which also affects anyone with a MM or 401k no matter how rich. And Long Term Capital Gains which also affects anyone with a MM or 401k no matter how rich. It affects the rich more because they earn more off investments (both dividends and capital gains) because... they have more invested. Duh. Plus high paid executives can take pay in stock, hold it for a year, then cash out for capital gains tax rate. This is why Mitt Romney makes $13m and pays a lower effective tax rate than many. His income is made up of capital investment/capital gains and dividends. But we want capital gains taxes low because we want investors investing in the economy. Dividends should be taxed lower because, well, because I said so and I'm the mom. Wait.. sorry. Wrong people. Forgot I was on LP for a moment there.
Personally, I think interest income should be nontaxable for first $10k income for those earning less than $300k. It would encourage people to save more, putting more money into the banks who then will then loan more out.
Lottery winnings are ordinary income, so in 2013 tax rates will affect if you claim in 2013. It does not matter when you WIN, it matters when you CLAIM. Win in 2012, claim in 2013, you are subject to 2013 tax rates. Individual tax payers are on a cash basis.
Did I make any sense? It's late. Aggies beat Bama! The Texans won! Amazingly the Cowboys won. Woooo! And my coffee has long wore off. I'm patiently (barely) waiting The Walking Dead to replay after these grown men finish talking about comic books on AMC.
Excellent summation Piaceri!
And because your the mom, dividends should be taxed lower!
I the Walking Dead also. It's where gore meets comedy meets more gore!
I can't wait to see who would be the lucky winner for Wednesday's draw. It seems that everybody hopes to win the jackpot prize, I myself will be in constant watch of the lottery draws. Good luck to all of us.
I think the jackpot will continue to grow til
then it's time to
&
$85 million would be a very nice christmas present for myself, family and a few friends.
Now that the jackpot is this big I am going to take the annuity because I am optimistic that I can live for the 30 years needed to claim the jackpot. Good luck to me on wednesday night! Hooray me! Yippie!-weshar75
Some of it made sense, but there's one thing where I think people are just buying into the hype.
"we want capital gains taxes low because we want investors investing in the economy."
Simply "investing in the economy" doesn't really do anything. What matters is producing, selling and buying products or services. Buying stock that's owned by another investor doesn't do anything more for the economy than moving money from your savings account to your checking account. If the investor you bought from (or the broker who earned a commission) spends the money it will do something useful, but there's no guarantee that the money will be spent. They may just buy another investment, and the money just moves around without being used to do anything.
By comparison, if you spend $25k on a new car instead of stock you'll definitely be doing something for the economy. The dealer gets money to pay their bills, and the manufacturer makes a profit and (presumably) builds another car to maintain inventory. Occasionally the government offers incentives to buy a car, but nobody seems to make the argument that there should always be a tax break for it because it helps the economy.
Like you, people sometimes suggest a modest tax break on dividend or interest income, but I don't often see legislators (or lobbyists) saying such income should routinely be taxed at a lower rate because that would encourage people to "invest in the economy". The reality is that almost anything you do with the money it's being invested in the economy. If you put it in the bank instead of buying stocks or bonds the bank will invest it so that they can earn enough to pay you interest and make their profit. Spending it will increase the production and sale of goods or services.
I only see a few alternatives to investing in the economy. If you just put the money in your mattress is doesn't do anything to help anyone, including you. Ironically, the other way to not invest in the econom that come to mind is buying gold or some other commodity that is already owned by another investor and putting that in the equivalent of your matteress. Other than a modest benefit from any comission paid to a broker there's no benefit to the economy, but if you can sell for a profit later on you'll get that capital gains rate that you deserve for investing in the economy.
Say hello to America's newest millionaire. That dream shopping spree is long overdue.
No winners tonight so Play On!!!!!! and keep dreaming of the win!!!
I hear you! My house is at 59' as I type this. Can't afford to heat it any warmer! But, hey that's what sweaters are for.
Good luck to everyone who plays PB. I'll see you when you play MM again!
Sorry to hear that zinniagirl, if I could spare it I would have someone fill up your tank today.
Good luck this Saturday!
Why not take the cash and buy your own annuity??
Annuities are not the greatest of investment vehicles but at least it would be yours and not the states.
Does anyone doubt that the reason the states offers annuities is because they profit from them???
I doubt it, but then I kind of know the truth. Players can choose between cash or annuity. The cash is all of the money that the lottery has (a percentage of sales). The annuity is what the lottery can pay out if most of the cash is invested over time (the first payment is in cash). The lottery can invest the money BEFORE taxes - unlike the winner who pays tax and then invests the rest. Plus, the winner actually gets a contract from all of the states that guarantees payment of yearly payments. The lottery keeps no part of the cash or earnings on the cash. Either way, the winner gets it all.
Now, is it wise to take the annuity? Not so much in the current environment. The lottery locks in the annuiity based on current interest rates - which are very low right now. Also, the federal income tax rate is at historic lows. For reasonable folks with some self-control and a little financial know-how, it may be best to take the cash, pay the taxes at the current low rates (they are only likely to go up), and lock up the money in a box until interest rates rise (and they can't get much lower).
If a person is concerned about spending the money foolishly or investing the money and losing it all, then the annuity can offer a 100% guarantee that the annuity stream will continue for decades to come. The annuity lets you go crazy and live foolishly and still know that you will be rich again next year.
LG:
think Big Bird will win PB on November 21$$
WE think you are all right!!! ha,a,a!!! stay positive!!
Always jrosina!!!
Good luck Wednesday.
We Know>>>LOL... Happy to be home!!
It depends on what you mean by profiting from the annuity. The state makes no extra money if a winner chooses the annuity. On the contrary, they actually incur a modest cost for wrtting and delivering the annual payments.
OTOH, they certainly make more money as a result of advertising the inflated and imaginary value of the annuity prize. While many of us know what the cash value is, or even choose whether or not to play based on the after-tax net, many (probably most) players decide based only on the advertised amount. They don't play at $100 or $200 million because of the steep odds, but decide at $250 or $300 million that it's worth spending the money based on the idea that they might actually win the advertised amount.