Powerball Jackpot the Fourth-Largest Lottery Prize in US History, Here’s What To Do if You Win

Tonight’s Powerball jackpot is an estimated $1.55 billion, with a one-time cash in choice of $679.8 million.

The betting odds of a Powerball ticket matching the Captain Hicks drawn numbers remain constant quantity at just one in 292.2 million. But the chances of a drawing returning a jackpot victor presumptively increment inward probability when the jackpot climbs to unimaginable wealth, as the immense prizes fire additional sales that resultant in to a greater extent possible keep down combinations existence covered.

Despite the increased child's play o'er the yesteryear two weeks as the Powerball jackpot climbed towards and eventually eclipsed the 10-digit mark, the interstate lottery spirited has gone 34 square drawings without a bingle ticket matching the Little Phoebe white balls and the carmine Powerball.

Each Powerball child's play begins at $2, with to the highest degree states providing players with an optional $1 add-on Powerball Play multiplier factor that tin double, triple, quadruple, quintuple, or decuple (10x) their prize. Some states the likes of Pennsylvania also ply Powerball players with a supplemental “Double Play” select where another half-dozen numbers are drawn, though that drawing only if allows players to win upwards to $10 trillion — not the advertised Powerball jackpot.

Powerball is played inwards 45 states plus DC, Puerto Rico, and the US Virgin Islands. The Double Play choice is offered in 17 states positive the nation’s capital.

Financial Advisors Urge Winner to Consult Expert

At $1.55 billion, tonight’s Powerball jackpot is the third-largest inward the game’s chronicle and the fourth-largest lottery value inward the account of the United States.

Powerball holds the all-time US lottery record, a $2.04 billion prize won last-place Nov by a lucky player in California. Mega Millions’ tape jackpot of $1.6 1000000000000 won inwards August of this twelvemonth is second. group A Powerball jackpot of $1.586 one thousand million won in Jan 2016 past III tickets sold in California, Florida, and TN is third.

If a ticket hits the half-dozen numbers tonight, financial advisors urge that the winner(s) refer with a riches manager and possibly an attorney to pay off their life-changing payout. Financial advisors say winners who pick out the annuity gather seniority inwards their financial security department since the win aren’t paid out all at once.

Most people submit the chunk sum, because they require the money, they want to command it,” said Henry Martyn Robert Pagliarini, chairwoman and chief financial advisor for Pacifica Wealth Advisors and author of The Sudden Wealth Solution, told Nexstar. “I aboveboard consider to the highest degree people are belike improve sour taking the annuity.”

Financial managers say the 30-year statistical distribution is considerably more attractive than the one-time hard cash because of the Effective Union soldier Funds Rate (EFFR) being at 5.33%.

The Union soldier involvement range is used to see the good advertised jackpot payout since the annuity is backed by bonds issued past the US Treasury. With interestingness high, the annuity has climbed often quicker during the Powerball bleed than it would get only when a twain of years agone when the Federal rank was at or nigh zero.

Feds Guaranteed Winner

While the odds of winning the Powerball jackpot are dismal, they’re a sure thing for the US federal government. That’s because whoever wins the generation-changing wealth testament live subjected to a bounty of federal income taxes.

The US government’s cover task bracket on the country’s highest income earners is an in effect(p) place of 37%. That agency if a just the ticket wins tonight’s jackpot and the winner opts for the cash, the $679.8 billion would follow straightaway reduced by $251.4 million. That would result the winner with around $428.3 million, which would and so live subjected to possible land taxes.

Only California, Delaware, Florida, New Hampshire, Puerto Rico, South Dakota, Tennessee, Texas, Washington, and WY ut non taxation drawing wins.

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