Saturday’s Powerball reaches $1.50 billion; This is what to do if you win
The Powerball jackpot prize is now valued at an estimated $1.50 billion for Saturday’s drawing. That makes it the fifth largest on record in the Powerball game and seventh among overall U.S. lottery jackpots, according to a press release.
It’s also only the second time in Powerball history where a game produced back-to-back jackpots of more than $1 billion.
“This jackpot is set to deliver the ultimate windfall,” Matt Strawn, Powerball Product Group Chair and Iowa Lottery CEO, said in a statement. “The jackpot grows with every $2 ticket sold, and a portion of each ticket supports local public programs and services. We encourage everyone to have fun and play responsibly.”
The cash value of this prize is $689.3 million. It grew to this size after no ticket matched all six numbers from Wednesday’s drawing — white balls 25, 33, 53, 62, 66 and red Powerball 17. Wednesday’s Power Play® multiplier was 4.
Saturday’s drawing, set for 10:59 p.m. ET, is the 45th in the current jackpot run, which is a “a game record for the most drawings in a jackpot cycle,” according to Powerball.
The drawing can be watched on Powerball’s website.
What happens if you win?
Powerball prizes have to be claimed in the same jurisdiction the winning ticket was purchased in. Tickets expire within 90 days to one year depending on their jurisdiction. Expiration dates are usually listed on the back of the ticket.
Winners can choose to get their prize in 30 annual payments or a one-time, lump-sum cash payment.
So if you are the lucky winner, can you stay anonymous? That depends on which state you’re in.
“A lot of states have passed laws allowing anonymity to Powerball lottery winners,” David Walls, a lawyer who’s represented several lottery winners, previously told Straight Arrow News. “Some states have a modified system, and other states have no privacy laws at all with respect to winners.”
Those not in states that grant anonymity still have some options, though. These include setting up a trust of LLC to claim winnings — although some states do require that a “natural person” receive the prize.
The post Saturday’s Powerball reaches $1.50 billion; This is what to do if you win appeared first on Straight Arrow News.
Ella Rae Greene, Editor In Chief
