Lawson’s jackpot holds the record for the largest Lottery prize ever won in MI. The staggering $1.4 billion Powerball jackpot number on Wednesday has captured a great deal of attention nationwide. Officials review the estimate daily. If your pre-purchased Powerball ticket matches all six numbers that Powerball picked, you win the top prize. The display doesn’t go beyond three figures so the prize says $999 million even though it’s now at least $1.5 billion for Wednesday’s drawing.
Advertisement
That sounds like a lot, but last year’s annual revenue the lottery put toward education was more than $1.2 billion.
That means a single victor would have the option of a lump-sum cash payout of an estimated $930 million.
The 25% Federal tax deduction from the lump sum would ding an additional $139.5 million, leaving the victor with $418.5 million.
For the next seven drawings, less than 10 percent of the possible combinations were played as the jackpot increased from $127 million to $255 million.
It’s “human nature to think the other guy is winning”, said Sally Lunsford, public affairs director for the Kansas Lottery.
Fresh off scoring his 500th National Hockey League goal, a photo appeared on social media of Ovechkin buying Powerball tickets in Virginia with his father. These are all questions that arise for people looking to buy Powerball tickets online, and the answers are not always so simple. “I would take a trip to the moon”, he said. “It’s insane. People are insane”.
So, after spending the $584 million to win, you’d still be losing money.
The 30-year-old Ovechkin is in the eighth season of a $124 million, 13-year contract.
According to USA Mega, the take-home cash total for a $900 million Powerball is actually $558 million, or 62% of the total pool.
Excitement is growing internationally, with thousands of Canadians pouring into the U.S.to try their luck, reports CBS News correspondent DeMarco Morgan.
At $2 dollars a ticket, you’d end up spending about $584 million.
Advertisement
“One thing I preach to people all the time is don’t buy quick picks”. Now I give you the same list.
