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.