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Subscribe to RSSPeople lined up for Powerball tickets Saturday, the fourth largest Powerball in history. NBC's Thanh Troung reports.
DES MOINES, Iowa -- No one won a $325 million Powerball lottery prize on Saturday night, so the jackpot will jump to a record $425 million for the next drawing -- and possibly higher.
The winning numbers were 22-32-37-44-50 with Powerball 34, according to the Powerball lottery's website. There were 10 winners of $1 million and one winner of $2 million.
Iowa Lottery spokeswoman Mary Neubauer said the jackpot for Wednesday's drawing could go even higher than the estimated $425 million because sales pick up in the days before record drawings.
"We'll watch sales to see if an adjustment upwards needs to be made," she said. The cash payout would be be a record $278.3 million.
Saturday's estimated $325 million jackpot was the fourth-largest in the game's history.
The previous highest Powerball prize was $365 million, won in 2006 by eight ConAgra Foods workers on a single ticket in Lincoln, Neb.
Powerball has not had a jackpot winner for two months.
The Powerball lottery is held in 42 states, the District of Columbia and the U.S. Virgin Islands.
In March, three winning tickets shared the largest U.S. lottery jackpot, the $656 million Mega Millions drawing.
The prospect of a big payoff had pulled in Black Friday shoppers in many cities.
Chicago resident Clyde Gadlin, 65, emerged from the bustle of holiday shoppers on Chicago's Michigan Avenue, to stop in at a 7-Eleven to buy his daily batch of Lottery tickets, including Powerball.
For him, the game is a chance to dream — a single winner's cash payout would be nearly $213 million before taxes — and he tries not to let the long odds burst his bubble.
The current jackpot is the fourth largest in the game's history, with chances of winning at about one in 175 million. Many dream of winning it big and hope they will be that lucky someone with the golden ticket. NBC's Mark Potter reports.
Lottery officials say they're unsure what effect Thanksgiving and beginning of Christmas shopping season will have on sales, which normally pick up in the days before high-dollar drawings.
Gadlin said that if he won, he would return to his grandfather's farm in Heidelberg, Miss., where he spent part of his childhood.
"I would go down there again and probably do a little bit of farming," he said, recalling the roaming deer and 380 acres of potatoes, corn, watermelons and sugar cane. Gadlin hasn't been there for more than 20 years.
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Well, nobody won it!! It will be a half a BILLION dolllars by Wednesday!! You watch.
While I realize that $213 million dollars is an awful of money,and I don't mean to sound 'Greedy',Lord knows there's enough of that going on on Wall St.,but how can there be a prize of $325 million,and a Cash Payout of $213 million 'BEFORE TAXES'? Where the hell does that $112 million go,if not for Taxes? That,I don't understand. I would think that if the prize is $325 million,and you get a one-time payout of $213 million,then that should already 'INCLUDE TAXES'. I mean,come on,don't we already pay 'ENOUGH TAXES' as it is? So,if you win $325 million,they get to pick $112 mill right off the top? FOR WHAT? WHERE DOES IT GO? I'd like to know.
It is an annuity. They take $213 million and put is an annuity and in the 25 years it would earn enough money to equal $335 million.
A fixed percentage of every Mega Millions and Powerball ticket sold goes into
its CASH jackpot. The cash jackpot is all the money that the lottery has on hand
from the sale of tickets in the game. If a player chooses the cash option, then
the lottery will pay the entire cash amount to the winner (less income tax
withholding amounts required by federal and state laws).
The lottery
also offers an ANNUITY jackpot option that can help reduce taxes and offers the
winner a 100% guaranteed income stream over time. The two games offer different
types of annual income streams, giving the players more options. If a winner
elects the annuity option, then the lottery will invest the entire cash amount
before taxes are deducted. The difference between the CASH jackpot and the
ANNUITY jackpot is the interest earnings that build over time. The Powerball
annuity jackpot earns more interest for two reasons.
1. The Powerball
Annuity Jackpot invests more money for a longer period of time. The Powerball
annuity is paid out in graduated amounts (rising by 4% per year to keep up with
inflation) over 29 years (30 payments). The annual payments grow larger to keep
pace with the winner’s expected cost of living. The Mega Millions annuity is
paid out over 25 years (26 payments) with equal payments each year. In both
cases, the first payment is an immediate cash payment.
2. The Powerball
Annuity Jackpot is invested in a wider variety of securities than the Mega
Millions Jackpot, allowing more interest to be earned. All of the securities
used to support both games’ jackpots offer significant levels of U.S. Government
backing. It is important to understand that the lottery is invested in these
securities; not the winner. The winner has a contract with the states to pay the
annual prize payment, no matter what happens to the securities.
Since
the two games' jackpots are invested differently, if the CASH jackpots are the
same, the Powerball jackpot will pay a larger ANNUITY over time than Mega
Millions. If the ANNUITY value of the jackpots are the same, then Mega Millions'
CASH jackpot will be larger than Powerball's CASH jackpot. The CASH jackpot
amounts present the true present-day values of the jackpots. A winner who wishes
to take the CASH jackpot should compare only the CASH jackpot amounts. The
ANNUITY jackpot amounts will be important for those winners who plan to select a
long-term, fully guaranteed income stream.
Yeaa...won 4 bucks!
The lottery is a tax on people not intelligent enough to understand statistics.
Okay Iowa here I come, everyone else will be losers and boozers when the winner is announced.................whoops, was I dreaming?????????????
Hopefully I win so I can become a professional Poker Player and Gambler. give 10% friends, family and charity and 10% for myself.
I'd re-open the Hostess bakery and start cranking out Twinkies again!
I'd be right there wtih you Marysia ... cranking out the Funny Bones ...., triple thumbs up!!!
I can't even get 2 numbers together..shoot..
I spend a few bucks infrequently on the $1 scratch tickets here in Denver. Finally came up with a $100 winner that tripled. That is quite a bit more than I have spent on it in the last few years. The odds against getting the big jackpots are astronomical, but I might buy a few Lotto tickets this time just for the fun of it. The funds here go to pay for parks, recreation, open space, etc; so I just consider it voluntarily paying a small additional tax.
ok world , ok world , i'm going get the ticket. sheeesh , i really didn't need it , the 400 million that is. '' but sense you insist ''!!!!
I'd get an attorney first thing. If I didn't like him, I'd look for another one. I'd set up a foundation and live off of the interest. My kids and grands would get a trust fund. A couple friends would get a lump sum. They're older and know how to use money wisely. I'd pay my church's power bill every month since they have a hard time doing that. Part of the foundation money would go to the local food bank and I'd build a hospice home for those who don't have family.
For me I would rent a jet a few times a year to visit my family in another state. Or so they can visit me. And anything else I wanted to do - like see Italy. And take my whole family too. The rest will come.
money can't buy you love. but you rent it.
So I have a better chance of stepping out my door during the day and a meteor hitting me ten times over ... but it is still nice to dream ... and when you put it into perspective of the other things we buy in life .... A night out on the town can land you a comfy night in jail if you drink and drive, those cigarettes you smoke decrease your life span anyway .... we always have an excuse, but all they are is excuses because if you spend even $1 on anything besides the actual cost to live, then you have extra money .... I like to dream .... b/c without dreamers we wouldn't have millionaires ... so good luck everyone ..... b/c someone has to win!
Gimme $500 worth.
Why would you buy baby food and diapers when you can use your EBT for those?
If I won I would start new schools for the Deaf in Colorado and a new college to replace or supplement Gallaudet to give those people a choice. Right now their options stink in most of the country as America just quit caring. 72% unemployment among the deaf. Is that fair? VRS being cut back. Online video breaking the ADA laws for telecommunications without Closed Captioning. And on and on and on.
The deaf are treated better in Afghanistan than they are in America. Hell, for that matter Hitler treated them better.
Unless they were deaf Jews, then Hitler had a whole new program set up. Dude, are you just simple? Are you one of those that think that the economy is easy on anyone other than the rich? Write your local Republiclown Representative, tell them to stop saying No and voting Yes.
They'll start voting YES bill when Obama can come up with something other than raising taxes only on the rich which won't work anyway, cuz there are not enough of them and it would hardly make a dent anyhow.
If I won I would buy a whole new federal government.
You could buy John Boner's vote in the House for regular golf excursions.
ouch!!!!!!!!!!!! on behalf on the united states, sad but true!
Why aren't Repugnicans doing anything about this? That's one of the biggest government handouts ever.
Government handout?
Well you have better odds of winning the lottery than you do of getting anything you want in return for paying your taxes.
You don't get a choice on paying the tax on the winning prize. They take 35% in federal tax and whatever % of tax the state has where the ticket was sold before you even see 1 penny of the winnings.
The winner would pay more taxes than the Mitthead ever has.
Apparently Mitt paid all he was required to, or the IRS would have told us. Why should he pay more?
How much money did he squirrel away in the Cayman Islands that he didn't report? We don't know, he won't show his taxes so he must be hiding something.
I've heard it said that your chances of winning on any ticket about the same as your chances of being mauled by a polar bear, surviving, and then being mauled by another species of bear on the same day.
But, I'll probably buy a ticket ...or two, or three or...
After all, it could happen.
And that's if you live in New Jersey.
Yeah, I suppose if you're ice-fishing on Kodiak Island it skews the odds.
Go to this website: h-t-t-p://wh.gov/XkQZ, to sign a petition to temporarily suspend the right to vote of any able bodied person receiving welfare. Stop corrupt politicians from buying votes from those who abuse the system.
425,000,000 million divided by 314,165,191 people = $1.35, 1 dollar 35 cents, not 1.35 million.
So politicians can stop worrying about creating jobs, and the economy, and the poor, and cater to the wealthy exclusively. "Yeah, the legislation I signed allows your job to go to Korea, or china or mexico, but if you want an opportunity to vote me out of office, you'll have to let your family starve!!! Muhhahaha!!!!!" You, Mr. U.S.A. are a dim bulb, indeed. I would sign any petition that disallows you to vote.
LOL Yeah I guess your calculation is right. I had a decimal in the wrong place. That's what I get for writing these stupid things before my morning coffee!! Sorry.
Please sign the petition anyways!!! Forward it on as well!
EVERY citizen of the USA HAS a RIGHT to vote. You would have to have a Constitutional amendment to keep any citizen to not vote, good luck with that.
Every change to the Constitution starts with a petition...
There is a severe conflict of interest, when people that survive based on the government mandated charity of others, vote for politicians that promise to increase those handouts. This is why more and more people are sucking from the Governmental teat, than ever before. It is time to say enough is enough!
r u a teat sucker
USA, it will NEVER pass.
When people are allowed to vote to further their own interests, it's called "Democracy", you moron, not a "conflict of interest".
Not a chance in hell. The nation's welfare rolls currently stand at 4.1%. This is not the reason this nation is in trouble. Nor is denying them their constitutional rights going to fix anything, at all.
i got a petition of my own...by the way it's the red states that get the most assistance from the government than the blue states...says alot right there, huh? anyway, mine's about that private commercial space travel company, SpaceX, and how they want people to take to mars to colonize the planet. please sign my petition and forward it...it's called "the red planet for the red states"...now they don't need to secede and we get to balance our budget (finally!)...two birds, one stone...yep. thinking about putting it up on the "we the people" white house website...god i'd like to see how many people would sign that!
i'd live like hugh hefner...but better. oh hell who am i kidding. there's nothing better than being hugh hefner. damn that man!
Can't hit the ball if you don't swing the bat!!! Just saying...
Yeah, yesterday I bought one Powerball ticket and two Colorado lottery tickets. Is interesting to do when have a few extra dollars. Even if got $10,000 - 20,000 would be neat. Would be content with that or bit more. If won million(s), would need to have people could trust to advise me about financial-be way out of my style/level of living.
No winner because people coming out of our public school systems can't read numbers.
It's all about being in the game for a couple dollars. Potential. And someone will probably win this next one...probably a few tickets. Life changing for somebody. However, spread 180 million tickets out on acreage and walk out and pick the correct one. Not easy to do.