Powerball prize up to $1.5 billion, could grow

“What we’ve seen in the past when we’ve had other record jackpots, the ticket sales increase significantly and the transfers we make to the beneficiary funds are also increased”, Watson says.

Are you late to the Powerball bandwagon?

“While no one hit the jackpot prize, dozens of New Yorkers are vastly richer thanks to Powerball”, Gardner Gurney, director of the Division of the Lottery, said in a statement. Tuesday, Jan. 12, 2016.

The latest Powerball jackpot is now up to $1.5 billion, setting off a frenzy of Americans rushing to convenience stores to purchase tickets.

That $1.5 billion estimate is nearly certainly going up because of all the people who are going to be buying tickets.

To win the grand prize, the ticket must match all five numbers (in any order) and the red Powerball number.

The odds of matching all five numbers and the Powerball number are about 1 in 293 million, according to the Powerball website.

“It’s quite incredible now to think Australian citizens through Lottoland can join in on the race to win a mega worldwide lottery without having to leave the comfort of their own lounge room or office”, Lottoland spokesman, Luke Brill, said in The Age newspaper on Wednesday.

It’s official, the country’s biggest jackpot keeps getting bigger.

While you do not have to be a USA resident to purchase a ticket in the lottery, there is confusion about whether some Canadians ticket-holders would be eligible to collect the winnings.

Ticket sales stop Wednesday at 9:00 p.m. Central Time.

The victor can choose to be paid the full jackpot in annual installments over 29 years or take a one-off cash payment of Dollars 930 million before taxes. There are a few states that don’t release the names of lottery winners.

Lottery prizes are taxed like income, which means the jackpot victor will have to shell out 39.6% of their winnings to Uncle Sam.

If the magic ticket happens to end up in your hands here are a couple things State Farm suggests to prepare you, as a Billionaire. In 2014, they sold almost $3.2 million in lottery tickets.