![]() The annuitized option is represented by the estimated jackpot size of $1.4 billion, while the lump sum is the cash value - $643.7 million for the current series. Powerball jackpot winners can either take their winnings as a lump sum or an annuitized option of a one-time payment, followed by 29 annual payments that grow by 5% each year. These are the best, worst states to win the lottery inĪs fun as it is to fantasize about scoring a $1.4 billion paycheck, anyone lucky enough to beat the overwhelming odds to win the jackpot will be taking home far less than that.įirst, how the jackpot is paid out. $1.337 billion (Mega Millions): JIllinois ![]() history, though it could grow again before the next drawing: It’s also the fifth-largest lottery prize in U.S. However, if you’re lucky enough to win during Saturday’s drawing, you should know - you won’t exactly be an instant billionaire.Īt its current size, the jackpot ranks as the third-largest in Powerball history, coming in behind a $2.04 billion jackpot hit last November in California and a $1.586 billion jackpot split by three tickets (California, Florida, and Tennessee) in 2016. (NEXSTAR) - After more than 30 consecutive drawings without a winner, the Powerball jackpot has swelled to an estimated $1.4 billion.
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