Powerball Jackpot Surges To $700 Million

Posted: Jan 8 2016, 1:25am CST | by , in News | Latest Political News


Powerball Jackpot Surges to $700 Million

The Powerball drawing on Wednesday did not have any winners. The new jackpot is estimated to be $700 million.

As reported, nobody had the winning numbers for the $524 million Powerball jackpot in the Wednesday drawing. Initially the Powerball lottery estimated the jackpot for the Saturday drawing to be $675 million. As anticipated the jackpot has increased and is now estimated to be $700 million.

The biggest jackpot so far was $656 million in the 2012 Mega Millions lottery. There was also a huge Powerball jackpot in 2015. Three winners shared a $564 million jackpot. The current estimated $700 million Powerball jackpot has a cash value of $428.4 million. 

The $700 million would be paid out via an annuity plan over 29 years. The cash option value is what the winner would get taking the money right away, before taxes are deducted.

As interest in the new record-breaking jackpot is still extreme, we anticipate that the Powerball jackpot is rising even more. In case there is no winner in the Powerball drawing on Saturday, the Powerball jackpot could break the $1 billion barrier. 

The latest winner story shows that it does not matter how many tickets you buy. Julie Leach won a $310.5 million jackpot with a $20. The odds are just that bad with 1 in 292,201,338.00 for the grand prize. To win $4 the odds are 1 in 38.32.

Powerball costs $2 for a single play for one drawing. To add the Power Play multiplier, it costs an additional $1 for each play. The next drawing will be on Saturday, January 9. 

The Powerball lottery is available in 44 states, District of Columbia, the U.S. Virgin Islands and Puerto Rico. 

Powerball publishes the winning numbers at the Powerball site.

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The Author

<a href="/latest_stories/all/all/2" rel="author">Luigi Lugmayr</a>
Luigi Lugmayr () is the founding chief Editor of I4U News and brings over 15 years experience in the technology field to the ever evolving and exciting world of gadgets. He started I4U News back in 2000 and evolved it into vibrant technology magazine.
Luigi can be contacted directly at ml@i4u.com.




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