The Powerball jackpot will increase again.
No winner matched all six numbers to win Wednesday’s massive jackpot, which is now expected to grow to $1.5 billion and have a cash value of $745.9 million, Powerball announced. The winning numbers for Wednesday night’s drawing were 22, 11, 60, 2, 35 and the Powerball is 23. The Power Play was 2X.
Wednesday’s Powerball jackpot climbed to an estimated $1.2 billion after none of the tickets sold matched all six winning numbers drawn on Monday.
While winners can receive their winnings through a 29-year annual payment plan, most big jackpot winners choose to receive their prize in cash. The biggest prize was a $1.586 billion Powerball jackpot won by three ticket holders in 2016.
No one has won with all six numbers since August 2022. . According to Powerball, the odds of winning the jackpot are 1 in 292.2 million.
Powerball is played in 45 states, as well as in Washington, DC, Puerto Rico and the US Virgin Islands.
BEWARE OF CHEATERS: The second largest Powerball jackpot is up for grabs on Wednesday night. Here’s what to do when you win.
What should you do if you win the Powerball jackpot?
Steve Azoury, owner of Azoury Financial in Troy, Michigan, advised lottery winners to work immediately with a tax attorney, accountant and financial advisor to come up with a plan — including which payout to choose.
The plan should also include an “autumn man,” Azoury said. “That’s the person or advisor who stops you from lending to someone, who tells people all the money is tied up in investments and not available. We have nothing available to help you and we are not interested in your project.”
Deciding which payout to choose depends on your goals, your age, and the lottery rules under which beneficiaries continue to receive payments, or whether you would be likely to abuse a lump sum.
Mark Steber, chief tax officer at Jackson Hewitt, also recommends considering the amount of the lottery win and your current and project earnings.
How Are Powerball Players Cheated?
Powerball has warned players about possible scams.
Lotteries will never contact you via email, phone call or social media to let you know that you have won a prize unless you have specifically entered an official lottery promotion or competition according to Powerball.
Also, remember that lotteries never require you to pay a fee to claim a prize.
“If they ask you to pay a fee to claim a prize, chances are you are being scammed and you should not give any personal or banking information to these companies,” Powerball said.
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How does inflation affect the price?
As interest rates — which the Fed uses to curb inflation — rise in interest rates, the Powerball lump sum payout has fallen, according to Michigan lottery officials.
For example, the flat payout dropped from about 59% of the jackpot on August 3rd, when there was last a winner, to about 48% of the last jackpot.
Featuring: Medora Lee, USA TODAY; Chris Sims and Evan Frank, Indianapolis Stars; Frank Witsil, Detroit Free Press; The Associated Press
This article originally appeared on USA TODAY: Powerball jackpot swells to $1.5 billion as nobody claims Wednesday’s prize
https://news.yahoo.com/powerball-balloons-1-5-billion-053828897.html Powerball hits $1.5 billion with no Wednesday jackpot winner