The excitement is rising along with the jackpot in America's favorite lottery game. No one correctly matched all six numbers in Wednesday's Powerball drawing, pushing the jackpot to an estimated $205 million. That's currently the largest lottery jackpot in the world.
The $205 million dollar jackpot would rank as the 6th largest Powerball jackpot ever, and the 9th largest lottery jackpot of all time.
The cash option for the Saturday, May 8 drawing will be an estimated $107.3 million.
There were no Powerball jackpot winners Wednesday but 1,253,813 players across the nation won a total of more than $8.7 million in prizes in America's Game.
This current jackpot run started with the Wednesday, March 17 drawing. The drawing on Wednesday night was the 15th consecutive draw without being hit. More than 7.9 million Powerball players across the nation have won a total of more than $59.7 million in cash prizes since this jackpot run started.
This is the second time in the last 5 months that Powerball has crossed the $200 million mark.
The numbers drawn were: 9, 16, 21, 25, 32, and the Powerball was 8. The Power Play multiplier was 3.
Eleven players correctly matched the 5 white numbers and won $100,000. The tickets were sold in Delaware, Kentucky, Louisiana, Missouri (2), Montana, Pennsylvania, South Carolina, Tennessee, Wisconsin, and West Virginia. None of the winning players purchased the Power Play option. If they had, they would have multiplied their prize by 3 for a total win of $300,000.
A total of 113 players matched 4 white numbers plus the Powerball and won $5,000. Eleven of those players purchased the Power Play option, giving them a total win of $15,000.
More than 109,000 winning Powerball players multiplied their prize by 3 Wednesday. They were able to do that by purchasing the Power Play option for one dollar. With Power Play you can multiply your winnings, except for the jackpot.
Players purchased more than 44 million tickets between Sunday and Wednesday night.
The lotteries sold more than $2 billion in Powerball tickets in 2003. That translates into more than $600 million for worthwhile state projects.
Take half cash, half in an annuity. That way, you can buy your high price items (mansion, vacation home, cars) and still have an income for WHEN you blow all your cash.
Quote:Originally posted by tsai3904 on May 06, 2004
With the jackpot amount this large, would it still be wise to take the cash option?
If you choose the annuity option, you would be paid an average of $7 million a year for 29 years ($205 million over 29 years)!
I mostly hear arguments for the cash option, but if you were to receive $7 million per year, I might think about the annuity.
Thank you Thank you... somebody step up to the plate on large jackpots, I know I don't have 205 million just laying around in the bank with all that money what could you do with it at one time I think you'll have more headaches trying to keep up with all that cash and all those tax attorney's, finanicial advisors and watching the stock market now you become a babysitter of your own money, Twenty-nine years sounds better at 7 million a year than taking all of it at one time, I would be at peace with myself annuity at this point is better..... anything else cash only.
Quote:Originally posted by tsai3904 on May 06, 2004
With the jackpot amount this large, would it still be wise to take the cash option?
If you choose the annuity option, you would be paid an average of $7 million a year for 29 years ($205 million over 29 years)!
I mostly hear arguments for the cash option, but if you were to receive $7 million per year, I might think about the annuity.
This would depend on the American currency retaining its value. Given that the United States prints money indiscriminately, and has been a net debtor nation since the mid-1980's, this wouldn't be a particularly good bet. Our current government is spending money like a drunken sailor on a three week bender, and, like the metaphorical sailor, none of this spending, absolutely none of it, represents an investment in the future. People think hyper inflation can't happen here, but neither did they think it could happen in Germany in the 1920's or in Argentina in the 1980's. It can and it will.
My advice: Take the Cash. Invest it in international securities as quickly as you can. Keep some here to live on for the short term, but be prepared to bring your money back after the crash. You'll be richer than you can imagine and you'll be able to help your country by bringing real capital back to it.
If you were to take the cash option, the only way to reach the amount of the jackpot that you should have won is to invest most of your lump sum and hope for a great annual rate of return. You would have to time the market for this approach.
But if you take the annuity, you can invest part of your annual income ($7 million per year) and use the theory of dollar cost averaging, which any investor would bet on rather than timing the market.
Another reason why someone would take the annuity is because people tend to spend a lot when they can. It would be hard to waste most of the lump sum ($100 million) but that person's cost of living will rise significantly for the next several years. Maybe in 15-20 years, they will not have as much money as they need to satisfy their wants.
However, if you take the annuity, you are taking in an annual $7 million, which would be uncommon to their previous paychecks. But, after the first couple of years, that person will get used to that style of living and spend accordingly (spending in proportion to a $7 million income).
For those that believe the cash option would be better, would they care to explain why instead of just saying it? I would just like to know the way people think (there is no right answer).
Quote:Originally posted by prob987 on May 06, 2004
This would depend on the American currency retaining its value. Given that the United States prints money indiscriminately, and has been a net debtor nation since the mid-1980's, this wouldn't be a particularly good bet. Our current government is spending money like a drunken sailor on a three week bender, and, like the metaphorical sailor, none of this spending, absolutely none of it, represents an investment in the future. People think hyper inflation can't happen here, but neither did they think it could happen in Germany in the 1920's or in Argentina in the 1980's. It can and it will.
My advice: Take the Cash. Invest it in international securities as quickly as you can. Keep some here to live on for the short term, but be prepared to bring your money back after the crash. You'll be richer than you can imagine and you'll be able to help your country by bringing real capital back to it.
Your statement is pure rubbish. Who bailed out Argentina in the 80's? The World Bank. Take away the U.S.A. and there is no World Bank.
The United States has the strongest economy of any nation on the face of the earth. If we go under, which we won't, the whole world would go under.
Where is this magical land you plan to invest in international securties? Could it be The Land of Oz National Bank?
I would like to see a new single ticket record jackpot set on this run anything above 314.9 million will do. Hopefully it will only take 3 rollovers to reach a record higher than the previous one.
I remember the first 1 million dollar jackpot game I ever played.Back then it seemed like a whole lot of money,and it wasn't that long ago. Now it seems that we have to have 100 MILLION PLUS jackpots to get anybody's. Is that how much people feel they need to make their lives better. As far as annuity vs. cash option I'm on the fence. I can only hope to win,but Idon't play to win. remember to play responsibly. Only play what you can afford to lose.GOOD LUCK TO ALL!
Yes, good luck to all! I always find it amazing when the cash option is greater than $100 million. That's an unimaginable amount of money to win.
think about what would happen when the cash option AFTER TAXES is over $100 million.
With the jackpot amount this large, would it still be wise to take the cash option?
If you choose the annuity option, you would be paid an average of $7 million a year for 29 years ($205 million over 29 years)!
I mostly hear arguments for the cash option, but if you were to receive $7 million per year, I might think about the annuity.
Take half cash, half in an annuity. That way, you can buy your high price items (mansion, vacation home, cars) and still have an income for WHEN you blow all your cash.
Thank you Thank you... somebody step up to the plate on large jackpots, I know I don't have 205 million just laying around in the bank with all that money what could you do with it at one time I think you'll have more headaches trying to keep up with all that cash and all those tax attorney's, finanicial advisors and watching the stock market now you become a babysitter of your own money, Twenty-nine years sounds better at 7 million a year than taking all of it at one time, I would be at peace with myself annuity at this point is better..... anything else cash only.
Mken35 out
I would take the LUMP SUM no matter what...
This would depend on the American currency retaining its value. Given that the United States prints money indiscriminately, and has been a net debtor nation since the mid-1980's, this wouldn't be a particularly good bet. Our current government is spending money like a drunken sailor on a three week bender, and, like the metaphorical sailor, none of this spending, absolutely none of it, represents an investment in the future. People think hyper inflation can't happen here, but neither did they think it could happen in Germany in the 1920's or in Argentina in the 1980's. It can and it will.
My advice: Take the Cash. Invest it in international securities as quickly as you can. Keep some here to live on for the short term, but be prepared to bring your money back after the crash. You'll be richer than you can imagine and you'll be able to help your country by bringing real capital back to it.
If you were to take the cash option, the only way to reach the amount of the jackpot that you should have won is to invest most of your lump sum and hope for a great annual rate of return. You would have to time the market for this approach.
But if you take the annuity, you can invest part of your annual income ($7 million per year) and use the theory of dollar cost averaging, which any investor would bet on rather than timing the market.
Another reason why someone would take the annuity is because people tend to spend a lot when they can. It would be hard to waste most of the lump sum ($100 million) but that person's cost of living will rise significantly for the next several years. Maybe in 15-20 years, they will not have as much money as they need to satisfy their wants.
However, if you take the annuity, you are taking in an annual $7 million, which would be uncommon to their previous paychecks. But, after the first couple of years, that person will get used to that style of living and spend accordingly (spending in proportion to a $7 million income).
For those that believe the cash option would be better, would they care to explain why instead of just saying it? I would just like to know the way people think (there is no right answer).
Your statement is pure rubbish. Who bailed out Argentina in the 80's? The World Bank. Take away the U.S.A. and there is no World Bank.
The United States has the strongest economy of any nation on the face of the earth. If we go under, which we won't, the whole world would go under.
Where is this magical land you plan to invest in international securties? Could it be The Land of Oz National Bank?
Chas
I would like to see a new single ticket record jackpot set on this run anything above 314.9 million will do. Hopefully it will only take 3 rollovers to reach a record higher than the previous one.
Pennsylvania Lottery Website has a Powerball Jackpot increase at 212million dollars today.
I remember the first 1 million dollar jackpot game I ever played.Back then it seemed like a whole lot of money,and it wasn't that long ago. Now it seems that we have to have 100 MILLION PLUS jackpots to get anybody's. Is that how much people feel they need to make their lives better. As far as annuity vs. cash option I'm on the fence. I can only hope to win,but Idon't play to win. remember to play responsibly. Only play what you can afford to lose.GOOD LUCK TO ALL!
Now the estimate is 212 mIll annuity/110.7 mill cash...
My guess that that would be $60+ mil after taxes... Cash, wouldn't that be special
MarkP
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Use Linux!
thatthat
Hmmm...In my book 1 million *IS* alot of money...
MarkP
> I remember the first 1 million dollar jackpot
>game I ever played.Back then it seemed like a whole
> lot of money,