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☆ Billion-dollar US Powerball ticket sold in California
▼ + stars: | 2023-07-20 | by ( Rachel Nostrant | ) www.reuters.com time to read: +1 min

July 20 (Reuters) - A very lucky Powerball player in Southern California has won the multistate lottery's $1 billion jackpot prize, ending a streak of 38 consecutive drawings without a grand prize winner. It was just the third time the Powerball jackpot prize has reached $1 billion. The winning ticket holder has yet to come forward, the California Lottery said in a statement, but the ticket was sold at Las Palmitas Mini Market in Los Angeles. Thirty-six other tickets sold across the country won million-dollar prizes, while an additional three won $2 million prizes, according to the Powerball website. Now that a winning ticket has been drawn, the jackpot will be reset to $20 million.

Persons: Rachel Nostrant, Matthew Lewis Organizations: Wednesday, California Lottery, Las, Mega, Thomson Locations: Southern California, Los Angeles, New York

☆ You could win nearly $1 billion between the Mega Millions and Powerball jackpots—how much you'd take home after taxes
▼ + stars: | 2023-07-03 | by ( Mike Winters | ) www.cnbc.com time to read: +2 min

Powerball's jackpot is worth $522 million and Mega Millions' jackpot is $400 million ahead of late-evening draws on Monday and Tuesday, respectively. For the $522 million Powerball jackpot, the lump sum payout is $269,600,000. For the Mega Millions $400 million jackpot, it's $205,000,000. Check out current Powerball jackpot payout estimates in your state, based on calculations by usamega.com. How much you'd take home after winning Mega Millions' $400 million jackpot

Organizations: Powerball, Internal Revenue Service Locations: North Dakota, New York, California, Florida , New Hampshire, South Dakota , Tennessee , Texas, Washington and Wyoming

☆ Paparazzi Speak on Meghan and Harry’s Car Chase
▼ + stars: | 2023-05-19 | by ( Jacob Bernstein | ) www.nytimes.com time to read: +2 min

You’re killers,” Mr. Eichner said. One person who has excelled despite these odds is Kevin Mazur, an event photographer who co-founded the company Wire Image. In 2007, Wire Image was sold to Getty as part of what was described at the time as a $200 million deal. But Mr. Mazur continues to shoot constantly, including on Tuesday, when he was the sole photographer with full access at the Ms. Foundation gala. At the same time, the cries of victimhood by paparazzi are less likely to elicit sympathy than the ones made by a man whose mother died in a car crash fleeing from them.

☆ Mega Millions jackpot is $1.35 billion. Here are 3 tips for navigating a win's 'cycles of surprise,' says advisor
▼ + stars: | 2023-01-13 | by ( Sarah O'Brien | ) www.cnbc.com time to read: +3 min

Fatih Aktas | Anadolu Agency | Getty ImagesThere's a chance a Mega Millions player is on the verge of joining a very short list: winners who snag a jackpot worth more than $1 billion. That's how much you'd win if you were to take the windfall as an annuity paid out over three decades. Between Mega Millions and Powerball, there have been winners of five other jackpots totaling more than $1 billion, including one worth more than $2 billion. If Friday's drawing produces a winner (or winners), the amount would mark Mega Millions' second-largest jackpot ever and the fourth-largest lottery prize in history. That's when the jackpot was reset to $20 million after two tickets sold in Florida and California split a $502 million grand prize.

Financial planner Jovan Johnson doesn't always advise against playing the lottery. Whenever we see a huge lottery drawing on the television screen, it can be very enticing to drop everything and go purchase a ticket. There is nothing wrong with playing the lottery if it is for pure fun and within your budget. Your savings come firstBefore you consider playing the lottery, ensure that you are on track with saving towards your financial goals and paying all your living expenses. A strategy to limit the amount that you use to purchase lottery tickets is to pool together an amount with a group of trusted friends or family.

No one won the last Mega Millions drawing, sending its jackpot soaring to $1.35 billion. It's the second-largest prize in Mega Millions history. The Mega Millions jackpot is estimated at $1.35 billion, the second-highest Mega Millions top prize ever recorded. The next drawing for the jackpot is scheduled for Friday, January 13, according to the Mega Millions website. Still, some research suggests that lottery winners do tend to end up happier than others.

☆ The 8 best states to win the $1.1 billion Mega Millions jackpot
▼ + stars: | 2023-01-10 | by ( Mike Winters | ) www.cnbc.com time to read: +2 min

After weeks without a winner, the Mega Millions jackpot is now $1.1 billion — the third largest in the lottery's 27-year history and the fifth-largest ever in the U.S. But depending on where you bought your ticket, those winnings can vary by as much as $120 million due to state taxes. State taxes are charged, too, but unlike federal taxes, they vary widely by state. The cash payout is much less than the annuity, but it's often chosen since it can be reinvested right away. The cash payout is nearly $63 million more in tax-free states than in New York, the most-taxed state.

☆ With no winner Mega Million jackpot climbs to $1.1B
▼ + stars: | 2023-01-07 | by ( Antonio Planas | Antonio Planas Is A Breaking News Reporter For Nbc News Digital. | ) www.nbcnews.com time to read: +1 min

No one claimed a winning $940 million Mega Millions jackpot Friday night — boosting the next drawing to more than $1 billion. No one has won the Mega Millions top prize since Oct. 14, when the jackpot was $502 million. The biggest Mega Millions jackpot ever won was a $1.5 billion prize in 2018. The largest lottery jackpot ever won in the U.S. was the $2.04 billion Powerball jackpot won in November. Mega Millions is played in 45 states as well as in Washington, D.C., and the U.S. Virgin Islands.

☆ Mega Millions jackpot is up to $785 million—here's how much you'd actually take home in each state
▼ + stars: | 2023-01-03 | by ( Mike Winters | ) www.cnbc.com time to read: +1 min

The Mega Millions jackpot is now at $785 million, its fourth-highest total ever. If you're lucky enough to win the Mega Millions jackpot, your ticket will have to be cashed in the state where it was purchased. You can choose between two payout options: A lump sum worth about 50% of the total winnings or an annuity of the full amount paid out over 30 years. That amount can be further reduced by state taxes on lottery winnings, which vary from nothing at all in states like California to 10.9% in New York, which charges the most of any state. Below is the total after-tax winnings you'd take home based on a jackpot of $785 million, listed alphabetically by state or district, per usamega.com.

☆ Mega Millions jackpot surges to $785 million. If there's a winner, this is the tax bill
▼ + stars: | 2023-01-03 | by ( Sarah O'Brien | ) www.cnbc.com time to read: +2 min

Anadolu Agency | Anadolu Agency | Getty ImagesMega Millions players may be daydreaming about what they'd do with an extra $785 million, the game's current jackpot amount. The lump-sum cash option — which most winners choose — for this jackpot is $403.8 million, as of midday Tuesday. $96.9 million in taxes would be shaved off cash optionAssuming you're like most winners and were to choose the cash option, a mandatory 24% federal tax withholding would reduce the $403.8 million by $96.9 million. The top federal income tax rate is 37% and applies to income above $578,125 for individual tax filers and $693,750 for married couples who file a joint tax return. There also could be state or local taxes depending on where the ticket was purchased and where you live.

☆ Mega Millions jackpot surpasses estimated $565M
▼ + stars: | 2022-12-27 | by ( The Associated Press | ) www.nbcnews.com time to read: +1 min

The holiday shopping season — for Mega Millions lottery ticket buyers, at least — is ramping up as officials say the estimated jackpot for Tuesday night’s drawing has surpassed half a billion dollars. Tickets sold in California and Florida for an Oct. 14 drawing shared the last Mega Millions jackpot of $502 million. Lottery officials say there have been 11 winning jackpots of $500 million or more since Mega Millions began in 2002. The record Mega Millions jackpot is more than $1.5 billion, won in 2018, and a jackpot surpassing $1.3 billion was won in Illinois in July. The largest U.S. lottery jackpot ever won was $2.04 billion in November.

The Mega Millions jackpot has climbed to an eye-popping $565 million after no ticket matched all six numbers drawn last week, the lottery announced Saturday. If somebody wins at the next drawing, the jackpot would be the sixth-largest prize in the 20-year history of the game, Mega Millions announced in a news release on its website. No ticket matched all six winning numbers, but two tickets sold in California and Illinois matched five of them and nabbed the game's second-biggest prize. The Mega Millions jackpot was last won on Oct. 14, when tickets sold in California and Florida shared a $502 million prize. The odds of winning the Mega Millions lottery are 1 in 302 million, according to the website SmartLuck.

☆ Why these five states don’t sell lottery tickets
▼ + stars: | 2022-11-09 | by ( Nathaniel Meyersohn | ) edition.cnn.com time to read: +4 min

Since 1964, when New Hampshire became the first to offer a state lottery, 44 states have started their own or joined multi-state jackpots. More than 200,000 retail stores and other outlets in the United States sell lottery tickets. That’s because when one state adds a lottery, people often flood across state lines to buy tickets. Recently, states that have adopted lotteries have emphasized that sales from tickets will go to social programs. The people likeliest to buy tickets are often the same ones who most rely on these government programs, he said.

☆ $2 billion Powerball jackpot winner: The 3 smartest moves to make first—and 1 thing to avoid
▼ + stars: | 2022-11-09 | by ( Mike Winters | ) www.cnbc.com time to read: +3 min

In fact, lottery winners are more likely to declare bankruptcy within three to five years than the average American, according to 2011 academic study. Get professional financial adviceHire a financial team consisting of a fiduciary financial planner, estate planning attorney and accountant "at a minimum," says Brady. A fiduciary financial planner can be found on the National Association of Personal Financial Advisors's website, Collado says. These tips can help people find a financial planner that's a good fit for their needs. But everyone's situation is different, which is why consulting a financial planner is a good first step.

The Powerball numbers in the record $2.04 billion drawing were announced Tuesday morning after lottery officials said there was a delay Monday night. The winning numbers were 10, 33, 41, 47, 56 and the Powerball was 10, with the drawing taking place just before 9 a.m. Powerball requires all 48 participating lotteries to submit their sales and play data before the winning numbers can be selected. The last winning Powerball ticket was drawn Aug. 3 by a lucky Pennsylvanian. Three winning tickets were sold in California, Florida and Tennessee in a $1.58 billion Powerball in 2016.

☆ Why Powerball Jackpot Jumped to a Record $1.9 Billion
▼ + stars: | 2022-11-08 | by ( Imani Moise | ) www.wsj.com time to read: 1 min

One lucky ticket in Monday night’s Powerball drawing could win someone a $1.9 billion jackpot, the largest lottery prize in U.S. history. If no one picks the right numbers, the game would tie another record: 40 consecutive drawings without a winner. Big jackpots have become more common and harder to win in recent years. The Multi-State Lottery Association, which runs the Powerball game, made changes to the game in 2015 that lowered the odds of hitting the big jackpot, to 1 in 292 million from approximately 1 in 175 million. The Federal Reserve’s interest rate increases further boosted jackpots, because the advertised award is based on the prize money’s investment in a portfolio of bonds over 30 years.

☆ Powerball used to have a jackpot limit. Then it exploded
▼ + stars: | 2022-11-07 | by ( Nathaniel Meyersohn | ) edition.cnn.com time to read: +4 min

New York CNN Business —The Powerball lottery jackpot is expected to hit $1.9 billion for Monday’s drawing, making it the largest lotto prize ever. But in 1987 when Lotto America, the precursor to Powerball, was introduced, organizers prohibited jackpots of more than $80 million. ”This is a whole new ballgame” Lotto America spokesman Jack Ratigan said at the time. These changes have pushed Powerball jackpots way up. Lotteries are regressive, meaning lower-income groups spend more of their budgets on lottery games than higher-income groups.

☆ Powerball's $1.9 billion jackpot is the biggest ever—but Mark Cuban and Kevin O'Leary disagree on what to do if you win
▼ + stars: | 2022-11-07 | by ( Mike Winters | ) www.cnbc.com time to read: +1 min

If you're lucky enough to win Powerball's $1.9 billion jackpot draw — the biggest ever — you'll need to figure out what to do with all that money. Celebrity investors Mark Cuban and Kevin O'Leary have different takes on how to make the most of your winnings, although both advise against spending too much right away. Here's what both Cuban and O'Leary say to do if you win big. What Mark Cuban says to do with the moneyWhen it comes to large jackpots, Mark Cuban, billionaire and judge on ABC's "Shark Tank," says to keep most of the money in the bank, rather than risking it on investments that might not pay off. Winners often choose the lump sum because it can be immediately reinvested.

☆ Powerball jackpot up to record $1.9 billion after no winner
▼ + stars: | 2022-11-06 | by ( ) www.cnbc.com time to read: +1 min

A record Powerball jackpot grew to an even larger $1.9 billion after nobody won the lottery drawing on Saturday night. The numbers for the drawing were: white balls 28, 45, 53, 56, 69 and red Powerball 20. The website of the California Lottery Association said the next chance for someone to get lucky will be Monday. The new $1.9 billion jackpot is for a winner who is paid through an annuity over 29 years. The Powerball prize keeps getting more massive because of the inability of anyone to overcome the long odds of 1 in 292.2 million and win the jackpot.

☆ The Fed's interest rate hikes helped make this weekend's $1.6 billion Powerball prize the largest lottery jackpot in US history
▼ + stars: | 2022-11-04 | by ( Jacob Zinkula | ) www.businessinsider.com time to read: +5 min

This weekend's $1.6 billion Powerball prize is the largest lottery jackpot in US history. The Federal Reserve's interest rate hikes are a key reason the headline prize is so high. In comparison, the lump sum prize for Saturday's lottery would only be approximately 49% of the $1.6 billion. So in some ways, the Fed is one reason Saturday's headline Powerball jackpot is the highest ever. This week, it surpassed the $1.54 billion Mega Millions jackpot in 2018 and the $1.59 billion Powerball jackpot in 2016.

☆ $1 billion lottery jackpots are more common than ever—and it’s actually making them harder to win
▼ + stars: | 2022-11-02 | by ( Tom Huddleston Jr. | ) www.cnbc.com time to read: +1 min

It's the fifth time a U.S. lottery prize has reached 10 digits since 2016, when the first billion-dollar prize jackpot was announced. Make that lottery harder to win and you can almost guarantee higher jackpots on a regular basis, incentivizing even more people to buy lottery tickets. Powerball's organizers have gradually made their lottery harder to win for decades, says Victor Matheson, an economics professor at the College of the Holy Cross who studies lotteries. Before then, your odds of winning a Powerball lottery were around 1 in 175 million, Matheson says. "They've been running Powerball or its predecessor for [34 years], and they've gradually been making it harder and harder to win," Matheson tells CNBC Make It.

☆ Delaware woman wins the lottery twice in one week—and she's not the first person to defy the odds
▼ + stars: | 2022-11-01 | by ( Mike Winters | ) www.cnbc.com time to read: +1 min

Earlier this month, a 70-year-old woman from Delaware won two lottery jackpots totaling $400,000 in the same week, despite the incredible odds of such a feat. And it's not the first time something like this has happened to a lottery winner, either. The winner, who asked to remain anonymous, first won $100,000 after scratching a $100K Ultimate Cash instant lottery ticket she purchased for $20 from a Speedy Gas in Newark, Delaware, according to a Delaware Lottery press release. Despite the 1 in 150,000 odds of winning, one of her tickets won the jackpot prize of $300,000, bringing her total winnings to $400,000 for the week. The woman, who described her reaction as "disbelief," says she plans to save most of the money for retirement.

☆ Powerball jackpot hits $1 billion, its second-highest total ever—here are the 8 states where you'd win the most
▼ + stars: | 2022-10-31 | by ( Mike Winters | ) www.cnbc.com time to read: +1 min

The Powerball lottery jackpot has grown to $1 billion for the second time ever. How much you'll actually take home if you win will vary based on which state you live in, and whether or not it charges income taxes on lottery jackpots. Winners can choose to take the full jackpot amount as an annuity for 30 years or take a lump sum worth roughly 51% less than the jackpot total, according to Powerball's calculations. While it might seem counterintuitive to take less total money, many winners choose to do so after consulting with a financial advisor. Either way, the winnings you'd take home would vary based on the total taxes incurred in your state.

☆ Mega Millions jackpot is nearly $500 million—here's how much you'd need to quit your job and retire early
▼ + stars: | 2022-10-14 | by ( Tom Huddleston Jr. | ) www.cnbc.com time to read: +1 min

Winning enough money to never have to work again might be reason enough to shell out a few dollars for lottery tickets — and the Powerball and Mega Millions jackpots are currently worth nearly $1 billion combined. But horror stories of lottery winners who mismanaged their jackpots and ended up losing it all abound. You might rightly wonder: How large of a jackpot would actually be enough to support you for the rest of your life? Pagliarini is a certified financial planner who specializes in advising lottery winners on how to manage their sudden wealth. How big of a jackpot do you need to quit your job and retire early?

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