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Online Casino Conditions >>> Betting News >>> November News


Powerball Jackpot Rolls Over for Saturday Drawing of $64 Million
by Ryan O'Donnell, News Staff
Writer
November 24, 2006

This Saturday night's Powerball jackpot will be worth an estimated $64 million, following a rollover on Wednesday evening, in which several people came close to matching all numbers. One ticket holder in South Carolina won $1 million for hitting a winning Power Play multiplier combination, while two players in Wisconsin and Pennsylvania both won $200,000 for correctly picking the first five numbers, minus the Power Ball number. In total, $4.4 million was awarded to 461,097 players. Not putting an extensive dent in the overall jackpot accumulation, Saturday's jackpot should draw a considerable turnout.

Powerball is operated by the Multi-State Lottery Association (MUSL), which is a non-profit government association jointly owned by the thirty-one participating lotteries. (Twenty-nine lotteries are state operated, while two reside in the District of Columbia and the Virgin Islands. With profits going back to each lottery, the taxation on one-lump sum jackpots is more than independent state-run lotteries; However, the jackpots are much larger considering there are several more contributing players.

For instance, a $200 million jackpot was hit by a couple, who opted to receive the one-lump sum payment of approximately $95 million. More than half goes back in taxes, yet one cannot argue the remaining jackpot is not more than anyone could possibly wish for. $64 million will translate into a lump sum award of $31 million after taxes. If there is no jackpot winner on Saturday, the jackpot will roll over once again, and will be played on the following Wednesday evening.

As for last Wednesday's drawing, the correct numbers were 22, 32, 36, 49, 55 with a Powerball of 8 and Power Play multiplier of 5, which resulted in 88,106 players multiplying their winnings by five times. The way it works is that players can purchase the Power Play option for an additional $1, which, depending on the drawn number (ranging from 2 to 5) will multiply one's winnings, aside from the jackpot. For instance, the player who won $1 million on Wednesday's drawing, did so by correctly guessing five numbers and a Power Play of five, thus multiplying their $200,000 in winnings by five.

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