“It’s insane how big this jackpot is”, said Alex Traverso, a spokesman for the California Lottery, confirming that the current Powerball prize was record setting.
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Some electronic billboards and signs at convenience stores are having trouble touting this jackpot because it is so big. “It’s taken 24 years to get a billion dollar jackpot”, said Hargrove.
Although POWERBALL tickets must be purchased by 10:00 p.m. Eastern Time on Wednesday to be eligible for this drawing, players are encouraged to purchase early to avoid long lines.
The pot pushed higher when no ticket holder had the winning combination of six numbers selected during Saturday’s drawing, when the grand prize reached almost $950 million.
One of the most persistent misconceptions, officials said, is that winners risk tax trouble if they opt for an annuity but die before all 29 payments are made.
Three of these players took home $50,000 and the other four won $150,000 with PowerPlay when the number “3” was selected.
But it won’t be the $1.3 billion Powerball jackpot. Officials don’t track which numbers are most popular because so many are randomly generated.
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“Too often people think ‘I’ve got my check, now where’s that ranch I want to go by, or all those cars I want to go buy.’ Yes you can do so, but you still have to hold money back because the withholding doesn’t often cover your entire tax bill”. After a 25 percent withholding for federal taxes it would come down to $651 million. “We’re very concerned about people playing responsibly and not overspending”, Gary Grief said. Those reminded that gambling (playing a slot machine) gives everyone similar odds of winning, once again bought nearly twice as many tickets as those not given such a reminder.
