The odds for the lowest prize, $4 for one red Powerball, are 1 in 38.32.Īccording to Powerball, the overall odds of winning a prize are 1 in 24.87, based on a $2 play and rounded to two decimal places. The odds of winning the Powerball Grand Prize are 1 in 292,201,338.
It was divided among three ticket winners in California, Florida and Tennessee. The record Powerball jackpot was $1.586 billion in January 2016, according to The Associated Press. If you're lacking inspiration, the latest winning numbers Wednesday were 28, 38, 42, 47 and 52. The red Powerball was 01. In California, prize payout amounts are pari-mutuel, meaning it's determined by the sales and the number of winners. There's a chance to have your winnings increased two, three, four, five and 10 times through the Power Play for an additional $1 per play. Players can multiply non-jackpot wins up to 10 times when the jackpot is $150 million or less.Īll prizes are set cash amounts, except for the Grand Prize.
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To watch the drawing live on Saturday night, visit the Powerball website, How to play Powerball When is the Powerball drawing?ĭrawings are held three times a week, every Monday, Wednesday and Saturday at 10:59 p.m.
Here's what to know ahead of the next drawing Monday night. A winning ticket for the $1 million Match 5 was sold in Massachusetts. In addition to no jackpot winner Saturday, there were also no winners of the $2 million Match 5 + Power Play. Previous reporting: No winners were chosen during Saturday's drawing, and the Powerball jackpot has now surged again, to an estimated $670 million with a cash value of $474.8 million. Powerball costs $2 per wager and adding a Power Play, which increases the winning prize amount, costs an additional $1 per wager. No one claimed the grand prize during Saturday's drawing and the jackpot is an estimated $685 million or $485.5 million cash value. Pools close at 10 p.m., so there's only a few hours left. Update, 6:50 p.m.: There's still time to purchase a ticket, or two, ahead of Monday night's Powerball drawing. Update, 11:20 p.m.: The winning Powerball numbers for Monday's drawing are: 12, 22, 54, 66 and 69, with a Powerball of 15 and a multiplier of two.
"It would be important to surround yourself with a quality team that's working in your best interest.Watch Video: 13 things more likely to happen than winning the Powerball jackpot "There's a big responsibility that goes with having such a large sum of money," Routh said. Given the sheer size of the jackpot, experts say it's important that the eventual winner assemble a team of experienced professionals to help navigate the windfall: an attorney, a tax advisor and a financial advisor. In other words, the winner could end up paying more than 45 percent in taxes. That levy ranges from zero to more than 8 percent, depending on where the ticket was purchased and where the winner lives. That would leave the winner with $239.8 million before state taxes. More from Advisor Insight: 8 costly retirement mistakes to avoid You have not taken these steps, and that's why you're broke Advisors take extra steps to protect elder clients from fraud The 24 percent federal withholding would reduce that amount by $91.3 million.Īssuming the winner had no reduction to their taxable income - such as large charitable contributions made from their winnings - another 13 percent, or $49.5 million, would be due to the IRS ($140.8 million in all). For Saturday night's drawing, the cash option - which most winners go with - is $380.6 million.
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