$425 Million Jackpot: Powerball Climbs To New Record

powerball jackpot Swells To Massive $320 Million

Wisconsin Powerball Lottery Set to Reach $320 Million

Tickets sales for the Wisconsin Powerball lottery are becoming brisk as the deadline looms for Saturday’s drawing.

The winners of the lottery will be able to divide up to $320 million in either annuity payments annually or in a lump sum.

The lump sum payment will be nearly $200 million after taxes. Wednesday’s drawing failed to produce a winner. Odds of winning the Powerball lottery are very slim at 1 in 175 million people.

In other words, odds are that if half of the nation were to purchase a single ticket, only one person would be the winner. However, many people are willing to accept those odds because the money they will likely lose is small compared to the life-changing sum of money they can win. As the line from the 1980s song “Smugglers Blues” says, “It’s the lure of easy money; it’s got a very strong appeal.”

The Powerball is played in 42 states which increases the access people have to play and correspondingly the payout. In order to win the Powerball, a person must pick five winning numbers plus the Powerball number.

Winners of the five numbers receive a $1 million payout. There is a $4 payout which people have a 1 in 55 chance of winning.

Top 25 United States lottery jackpots of all time:

Saturday’s Powerball jackpot currently stands as the 2nd-largest lottery jackpot of all time in the United States.

Mega Millions: $656 million, Mar. 30, 2012 – Illinois, Kansas, Maryland
Powerball: $425 million, Nov. 28, 2012 – Preliminary estimate, not won yet
Mega Millions: $390 million, Mar. 6, 2007 – Georgia, New Jersey
Mega Millions: $380 million, Jan. 4, 2011 – Idaho, Washington
Powerball: $365 million, Feb. 18, 2006 – Nebraska
The Big Game: $363 million, May 9, 2000 – Illinois, Michigan
Powerball: $340 million, Oct. 19, 2005 – Oregon
Powerball: $337 million, Aug. 15, 2012 – Michigan
Powerball: $336.4 million, Feb. 11, 2012 – Rhode Island
Mega Millions: $336 million, Aug. 28, 2009 – California, New York
The Big Game: $331 million, Apr. 16, 2002 – Georgia, Illinois, New Jersey
Mega Millions: $330 million, Aug. 31, 2007 – Maryland, New Jersey, Texas, Virginia
Mega Millions: $319 million, Mar. 25, 2011 – New York
Mega Millions: $315 million, Nov. 15, 2005 – California
Powerball: $314.9 million, Dec. 26, 2002 – West Virgina
Powerball: $314.3 million, Aug. 25, 2007 – Indiana
Powerball: $295.7 million, Jul. 29, 1998 – Indiana
Powerball: $295 million, Aug. 25, 2001 – Delaware, Kentucky, Minnesota, New Hampshire
Mega Millions: $294 million, Jul. 2, 2004 – Massachusetts
Powerball: $276.3 million, Mar. 15, 2008 – West Virgina
Mega Millions: $275 million, Feb. 22, 2008 – Georgia
Mega Millions: $270 million, Feb. 28, 2006 – Ohio
Mega Millions: $266 million, May 4, 2010 – California
Mega Millions: $265 million, Apr. 18, 2006 – Ohio
Powerball: $261.6 million, Jun. 2, 2010 – Ohio

Source material:

Powerball lottery jackpot swells to $320 million
http://fox6now.com/2013/03/21/powerball-lottery-jackpot-swells-to-320-million-2/