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DES MOINES, Iowa (AP) — The Powerball jackpot has climbed to an estimated $1.55 billion for Monday night's drawing after no one matched the game’s six numbers for the giant prize Saturday. The $1.55 billion prize is for a sole winner who is paid through an annuity, with annual checks over 30 years. Most jackpot winners opt for cash, which would be an estimated $679.8 million. The largest U.S. jackpot ever was a $2.04 billion Powerball prize hit by a player in California in November 2022. The scarcity of Powerball jackpot winners reflects the game’s long odds of 1 in 292.2 million, which are designed to make winning rare so that grand prizes can grow huge.

Organizations: DES, U.S, D.C, U.S . Locations: DES MOINES, Iowa, California, Washington, Puerto Rico, U.S, U.S . Virgin Islands

☆ Powerball jackpot hits $1.55 billion. Why the cash prize dropped $29.7 million last week
▼ + stars: | 2023-10-09 | by ( Kate Dore | Cfp | ) www.cnbc.com time to read: +1 min

The winner has two payout options: a lump sum worth $679.8 million or an annuity valued at $1.55 billion. Last week, the lump sum actually dropped by $29.7 million between Wednesday and Friday even as the headline prize held steady at an estimated $1.4 billion, according to Powerball. Powerball's estimated lump sum considers projected ticket sales and an "annuity factor," or the cost to fund the grand prize, Toyne said. Typically, the higher interest rates climb, the bigger jackpot players can expect because "rising interest rates are a tailwind for a lottery annuity," he said. But last week, the estimated lump sum dropped from Wednesday to Friday because the weekly annuity factor changed and the amount necessary to fund the jackpot went down, Toyne said.

Persons: Justin Sullivan, J, Bret Toyne, Toyne, Akshay Khanna Organizations: State Lottery Association

☆ Powerball jackpot: No big winner in Saturday's drawing, prize grows to $1.55 billion
▼ + stars: | 2023-10-08 | by ( Emma Tucker | ) edition.cnn.com time to read: +1 min

CNN —The already historic Powerball jackpot climbed to an estimated $1.55 billion after there was no big winner in Saturday night’s drawing, leaving the third largest prize in the game’s history still up for grabs. The jackpot rolled for a 34th time Saturday, with no winners for the $1.4 billion jackpot. There have been no grand prize winners since July 19, when a single ticket sold in California nabbed a jackpot worth $1.08 billion. Overall, your odds of winning a Powerball prize of any amount are 1 in 24.9, the lottery says. The largest ever Powerball Jackpot was a $2.04 billion prize won November 2022 in California, followed by a $1.586 billion jackpot won in January 2016.

Organizations: CNN Locations: California, California , Kansas , Louisiana , Massachusetts, Michigan , Ohio , Texas, Wisconsin, Iowa, Maine

DES MOINES, Iowa (AP) — An estimated $1.4 billion Powerball jackpot that has been growing since July will be on the line Saturday night. The jackpot is the world’s fifth-largest lottery prize after rolling over for 33 consecutive drawings, since the last time someone claimed the top prize on July 19. The scarcity of Powerball jackpot winners reflects the game’s daunting odds of 1 in 292.2 million. The $1.4 billion prize is for a sole winner who is paid through an annuity, with annual checks over 30 years. Most jackpot winners opt for cash, which for Saturday night’s drawing would be an estimated $614 million.

Organizations: DES, D.C, U.S . Locations: DES MOINES, Iowa, Washington, Puerto Rico, U.S, U.S . Virgin Islands

Emily Irwin, who works for Wells Fargo Bank, advises lottery winners on how to invest their money. Without any guidance, it can be easy to make bad decisions and blow it all, she told Insider. These are her tips for what lottery winners should do to protect their winnings. We want to make sure that lottery winners protect themselves from having to start all over again and avoid that feeling of going through the process of losing everything. I think having a diversified portfolio and reviewing it with your financial and investment advisors is very important.

Persons: Emily Irwin, Wells, you've, it's, they're Organizations: Wells, Wells Fargo Bank, Wells Fargo Bank's Southern Division Locations: Wells Fargo, Wells Fargo Bank's

☆ Powerball jackpot rises to an estimated $1.4 billion for tonight’s drawing
▼ + stars: | 2023-10-07 | by ( Zoe Sottile | ) edition.cnn.com time to read: +1 min

CNN —Lottery players have the chance to win big tonight, with the Powerball jackpot soaring to an estimated $1.4 billion for Saturday’s drawing after there was no grand prize winner Wednesday. The prize up for grabs Saturday would also be the fifth largest US lottery jackpot, Powerball says. Powerball has had no grand prize winner since July 19, when a single ticket sold in California won a jackpot worth $1.08 billion. Wednesday’s Powerball drawing was the 33rd consecutive with no jackpot winner. The largest Powerball jackpot ever was a $2.04 billion prize, won by a lucky sole ticket in November 2022.

Persons: shouldn’t Organizations: CNN — Lottery, Powerball Locations: 292,201,338.00, California

The Powerball jackpot soared to an estimated $1.4 billion as of Oct. 6, 2023, according to the Multi-State Lottery Association. The Powerball jackpot has soared to an estimated $1.4 billion ahead of Saturday night's drawing — and financial experts have tips for the lucky winner. As the third-largest prize in the game's history, the winner will pick between a lump sum worth $614 million or an annuitized prize of $1.4 billion. The biggest pitfalls for lottery winners are excessive spending, poor investment choices and family members asking for money, said Andrew Stoltmann, a Chicago-based lawyer who has represented several lottery winners. "Saying 'no' to family might be the toughest thing that lottery winners have to do," he said.

Persons: Andrew Stoltmann Organizations: State Lottery Association Locations: Chicago

☆ Choose your $1.4 billion Powerball jackpot payout wisely: The most popular option can be a 'mistake,' says financial planner
▼ + stars: | 2023-10-06 | by ( Mike Winters | ) www.cnbc.com time to read: 1 min

If you're lucky enough to win Powerball's current $1.4 billion jackpot — the third-highest ever — think carefully about your choice of payout. If you win, you can choose between an upfront cash lump sum and an annuity spread out over 30 years. Most jackpot winners claim the upfront lump sum, since they'll get the majority of the cash right away. Since the beginning of last year, all but one Powerball jackpot winner chose this option, the Multi-State Lottery Association tells CNBC Make It. But that doesn't mean it's necessarily the right choice for you.

Persons: Powerball's, they'll Organizations: State Lottery Association, CNBC

☆ Powerball jackpot climbs to an estimated $1.4 billion for Saturday's drawing
▼ + stars: | 2023-10-05 | by ( Nouran Salahieh | ) edition.cnn.com time to read: +1 min

CNN —The Powerball jackpot soared to an estimated $1.4 billion for Saturday – which would be the third largest jackpot in the game’s history – after Wednesday night’s drawing turned up no grand prize winner. The prize up for grabs Saturday would also be the fifth largest US lottery jackpot, Powerball says. Powerball has had no grand prize winner since July 19, when a single ticket sold in California won a jackpot worth $1.08 billion. Odds of winning a Powerball prize of any amount are 1 in 24.9, the lottery says. The largest Powerball jackpot was a $2.04 billion prize won November 2022 in California, followed by $1.586 billion won in January 2016.

Organizations: CNN, Powerball Locations: California, California , Colorado , New York , Pennsylvania, Texas, Kentucky , Pennsylvania

☆ The Smallest $1 Billion Powerball Jackpot Ever
▼ + stars: | 2023-10-04 | by ( Jeremy Olshan | ) www.wsj.com time to read: 1 min

This copy is for your personal, non-commercial use only. Distribution and use of this material are governed by our Subscriber Agreement and by copyright law. For non-personal use or to order multiple copies, please contact Dow Jones Reprints at 1-800-843-0008 or visit www.djreprints.com. https://www.wsj.com/personal-finance/powerball-jackpot-cash-prize-smallest-fc6ae79d

Persons: Dow Jones

☆ There's a reason why these Powerball jackpots keep getting so massive. You're paying for it.
▼ + stars: | 2023-10-04 | by ( Erin Snodgrass | ) www.businessinsider.com time to read: +4 min

The Powerball jackpot has surpassed the billion dollar mark for the second time this year. AdvertisementAdvertisementThe Powerball jackpot has surpassed the billion mark for the second time this year with a near-record $1.2 billion prize up for grabs in Wednesday night's drawing. It comes amid a recent wave of historic and increasingly large lottery prizes that have captured the nation's attention and spare change. In November 2022, a California winner scored the biggest lottery prize in history with a $2.04 billion Powerball ticket. Even though the odds of winning the Powerball jackpot are 1 in 292 million, Americans continue to throw their money at the game.

Persons: —, There's, Akshay Khanna, Khanna, there's Organizations: Service, Powerball, North American Association of State, Provincial Locations: California

☆ Powerball jackpot soars to an estimated $1.2 billion for Wednesday night's drawing
▼ + stars: | 2023-10-04 | by ( Holly Yan | ) edition.cnn.com time to read: 1 min

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☆ The Powerball jackpot is huge, but here are 3 better ways to increase your wealth
▼ + stars: | 2023-10-03 | by ( Jeanne Sahadi | ) edition.cnn.com time to read: +3 min

To be sure, here’s nothing wrong with fantasizing about winning the grand prize, or dropping $5 to $10 to buy lottery tickets or scratch-offs on occasion. In fact, Americans spent nearly $108 billion on lottery tickets last year, according to the North American Association of State and Provincial Lotteries. If that’s the case for you, why not spend most of your lottery money on experiences you know you like doing now. Make money off your lottery moneyOverall, your odds of winning a Powerball prize of any amount are 1 in 24.9, the lottery says. Think of it this way: Let’s say you spend $35 a week on lottery tickets ($1,820 a year).

Persons: you’d, ”, Tiffany Aliche, ” Aliche, — CNN’s Chris Isidore Organizations: New York CNN, North American Association of State, Provincial, TheBudgetnista.com, Richer Academy Locations: New York

The Powerball jackpot hit $1.2 billion on Oct. 3, 2023, the third-biggest prize in the game's history. Scott Olson | GettyThe Powerball jackpot has climbed to an estimated $1.2 billion — the third-largest prize in the game's history — without a winner Monday night. Among the winner's big decisions will be the choice between a lump sum payout worth $551.7 million or an annuitized prize of $1.2 billion. The lump sum payout is 'a mistake'"Virtually everybody who wins the lottery picks the lump sum distribution," said Andrew Stoltmann, a Chicago-based lawyer who has represented several lottery winners. While the lump sum payout could be a good financial move for some winners, he agreed that others may benefit from the spending guardrails of annuitized payments.

Persons: Scott Olson, Andrew Stoltmann, doesn't, Stoltmann, it's, John Loyd Locations: Chicago, Fort Worth , Texas

☆ Powerball jackpot climbs to an estimated $1.2 billion for Wednesday’s drawing
▼ + stars: | 2023-10-03 | by ( Nouran Salahieh | ) edition.cnn.com time to read: +1 min

CNN —The Powerball jackpot climbed to an estimated $1.2 billion after no ticket matched all numbers to nab the grand prize during Monday night’s drawing. The jackpot rolled for a 32nd time Monday with no winners for the $1.04 billion jackpot. Two tickets sold in New York and South Carolina won $2 million prizes and two tickets in Delaware and Michigan nabbed $1 million prizes, according to Powerball’s website. The jackpot crossed the billion-dollar mark on Saturday, marking the first time in Powerball history that back-to-back jackpot cycles have generated billion-dollar grand prizes, according to Powerball. The largest ever Powerball Jackpot was a $2.04 billion prize won November 2022 in California, followed by a $1.586 billion jackpot won in January 2016 and then an estimated $1.2 billion prize in October 2023.

Organizations: CNN, nab, Wednesday, South Carolina, Michigan nabbed Locations: California, New York, Delaware, Michigan

DES MOINES, Iowa (AP) — An estimated $1.04 billion Powerball jackpot will be up for grabs Monday night, tempting players to spend a couple dollars on a longshot chance at instant riches. The prize is the world's ninth-largest lottery prize behind earlier drawings of Powerball and Mega Millions, the other nearly nationwide lottery game. That losing streak reflects the stunningly long odds of winning the jackpot, at 1 in 292.2 million. The $1.04 billion jackpot is for a sole winner who chooses to receive the winnings through an annuity, paid annually over 30 years. Powerball is played in 45 states as well as Washington, D.C., Puerto Rico and the U.S. Virgin Islands.

Organizations: DES, Powerball, D.C, U.S . Locations: DES MOINES, Iowa, Washington, Puerto Rico, U.S, U.S . Virgin Islands

☆ Powerball drawing: $1.04 billion jackpot is up for grabs Monday night
▼ + stars: | 2023-10-02 | by ( Kelly Mccleary | ) edition.cnn.com time to read: 1 min

DES MOINES, Iowa (AP) — The numbers were drawn Saturday night for an estimated $960 million Powerball jackpot and players across the country are waiting to see if there’s a big winner. The $960 million jackpot is for a sole winner who opts for payment through an annuity, doled out over 30 years. The jackpot has grown so large because there have been 29 consecutive drawings without a big winner, dating back to July 19. The largest jackpot was a $2.04 billion Powerball prize hit by a player in California in November 2022. In most states, a Powerball ticket costs $2 and players can select their own numbers or leave the task to a computer.

Organizations: DES, Lottery, D.C, U.S . Locations: DES MOINES, Iowa, California, Washington, Puerto Rico, U.S, U.S . Virgin Islands

☆ Florida lottery winner claims $1.6 billion prize, but identity still secret
▼ + stars: | 2023-09-27 | by ( ) www.reuters.com time to read: +1 min

[1/2] The display in a store shows the Mega Millions lottery jackpot at $1.55-billion in New York City, U.S., August 8, 2023. REUTERS/Shannon Stapleton/File Photo Acquire Licensing RightsSept 27 (Reuters) - The second-largest lottery winner in U.S. history has come forward to claim the $1.6 billion prize, but the person's identity may remain a secret for another 90 days, the Florida Lottery said on Wednesday. The Mega Millions jackpot was claimed on Monday, seven weeks after the Aug. 8 drawing, Florida Lottery said in a statement. Florida is one of 45 states plus Washington, D.C., and the U.S. Virgin Islands to participate in Mega Millions. The Florida Mega Millions winner will have the option of claiming the full amount paid in a 30-year annuity or taking a lump sum of $794.2 million cash, according to the Mega Millions website.

Persons: Shannon Stapleton, Daniel Trotta, Jamie Freed Organizations: Mega, REUTERS, Florida Lottery, Washington , D.C, U.S . Virgin, Thomson Locations: New York City, U.S, Florida, Washington ,, Neptune Beach, Jacksonville, South Carolina, California

DES MOINES, Iowa (AP) — The ninth-largest lottery jackpot will be on the line Monday night when numbers are drawn for a $785 million Powerball prize. That winless streak is due to the miserable odds of winning the Powerball jackpot, at 1 in 292.2 million. The biggest jackpot was a $2.04 billion Powerball prize won in November 2022 in California. Although the game highlights the $785 million prize, that is for a winner who is paid through an annuity over 30 years. Political Cartoons View All 1176 ImagesThe giant jackpot would also be subject to federal taxes, and some states also tax lottery winnings.

Persons: — Organizations: DES, D.C, U.S . Locations: DES MOINES, Iowa, California, Washington, Puerto Rico, U.S, U.S . Virgin Islands

☆ The winner of the $2 billion Powerball jackpot in February has spent the last few months buying up California real estate
▼ + stars: | 2023-09-18 | by ( Joshua Zitser | ) www.businessinsider.com time to read: +3 min

The winner of a record-breaking $2 billion Powerball jackpot has gone on a real-estate-buying spree. Edwin Castro, 31, secured the winning $2.04 billion ticket at a gas station in Altadena, near Los Angeles, in November last year. This meant that Castro ended up with about $628.5 million in cash after federal taxes, according to USA Today. DailyMail.com reported that Castro has also been spotted driving a vintage Porsche, likely another of his post-jackpot purchases. AdvertisementAdvertisementAfter his property investments, which total about $76 million, Castro still retains a substantial portion of his winnings.

Persons: Edwin Castro, Fortune, Castro, DailyMail.com Organizations: Bel Air, Service, USA, New York, Porsche, Guardian Locations: Hollywood Hills, Altadena, Wall, Silicon, Los Angeles, Bel, Hollywood

☆ Powerball's jackpot rises to $420 million—here's the after-tax payout for every U.S. state
▼ + stars: | 2023-09-01 | by ( Mike Winters | ) www.cnbc.com time to read: +1 min

Powerball's jackpot has risen to a sizable $420 million ahead of Saturday night's draw, although the take-home amount will vary based on your choice of payout and the state taxes where you live. All winners have to pay federal taxes, which includes an automatic withholding tax of 24% levied against the winnings. However, winning millions of dollars will almost certainly put you in the top income tax bracket for 2023, which means another 13% in federal taxes when you file your tax return. You'll likely have to pay state income taxes on those winnings as well, which range from 2.9% to 10.9% depending on which state you live in. However, eight states don't charge income tax on lottery winnings: California, Florida, New Hampshire, South Dakota, Tennessee, Texas, Washington and Wyoming.

Persons: You'll Organizations: D.C Locations: California, Florida , New Hampshire, South Dakota , Tennessee , Texas, Washington and Wyoming, Washington

☆ The biggest lottery win in every state
▼ + stars: | 2023-08-25 | by ( Erin Mcdowell | ) www.businessinsider.com time to read: +1 min

The biggest lottery jackpot ever won, a huge prize of $2.04 billion, was in California in 2022. A New Jersey man won $533 million in 2018 while playing the Mega Millions for the second time ever. In November 2022, another California resident won the biggest US lottery prize of all time — his lucky ticket earned him a whopping $2.04 billion. Jackpocket recently compiled a list of the biggest prizes won on a single lottery ticket in each state, with prizes ranging from the low millions to billion-dollar jackpots. Here's the biggest lottery win in every state.

Persons: —, he's, Jackpocket Organizations: Service Locations: California, New Jersey, North Carolina, Alabama, Alaska, Hawaii

☆ Florida player wins U.S. Mega Millions jackpot worth $1.58 bln
▼ + stars: | 2023-08-09 | by ( ) www.reuters.com time to read: 1 min

[1/5] The display in a store shows the Mega Millions lottery jackpot at $1.55-billion in New York City, U.S., August 8, 2023. REUTERS/Shannon StapletonAug 9 (Reuters) - A player in Florida won a $1.58 billion Mega Millions lottery jackpot on Tuesday, the lottery website showed. The winning numbers drawn were 13, 19, 20, 32, 33, and the Megaplier was 14, according to the Mega Millions website. The last Mega Millions jackpot was won by a player in New York in April, at $20 million. A $2.04 billion Powerball jackpot in November 2022 ranks as the record highest lottery prize, according to media reports.

Persons: Shannon Stapleton, Shivani Tanna, Stephen Coates Organizations: Mega, REUTERS, Thomson Locations: New York City, U.S, Florida, New York, Bengaluru

☆ Winning Mega Millions ticket worth $1.58 bln sold in Florida
▼ + stars: | 2023-08-09 | by ( ) www.reuters.com time to read: +1 min

Aug 9 (Reuters) - One lucky winner was in possession of a Mega Millions ticket worth a cool $1.58 billion, the largest prize in the game's history, on Wednesday after purchasing it in Florida and hitting all six numbers in the lottery drawing. They then beat the 1 in 302.6 million odds of winning the multistate game by matching all of the lottery numbers drawn on Tuesday of 13, 19, 20, 32, 33, and the Megaplier was 14. [1/5]The display in a store shows the Mega Millions lottery jackpot at $1.55-billion in New York City, U.S., August 8, 2023. The last Mega Millions jackpot was won by a player in New York in April, at $20 million. A $2.04 billion Powerball jackpot in November 2022 ranks as the record highest lottery prize, according to media reports.

Persons: Shannon Stapleton, Shivani Tanna, Brendan O'Brien, Stephen Coates, Doina Organizations: Jacksonville , Treasure Coast Newspapers, Mega, REUTERS, Thomson Locations: Florida, Neptune Beach, Jacksonville ,, New York City, U.S, New York, Bengaluru, Chicago

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