Powerball jackpot now $600 million: Some facts
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10) 275 million more Powerball tickets.
But there's one key thing to remember: You won't end up with $500 million in the end. First consider the fact that the lump sum payment is actually said to be $327 million, according to Powerball's web site, and choosing to go with the annuity will actually get you about that much, or potentially less.
Then, remove the portion to be allocated for taxes, and various estimates have the remaining value as slightly less than half to about half of the advertised jackpot.
MILWAUKEE - The Powerball jackpot has been raised to an estimated $600 million for Saturday night’s draw. Here are some fast facts about Powerball and the jackpot history in the United States.
· $600,000,000 – this is a new record jackpot amount for Powerball
· $376,900,000 – is the estimated one-time cash lump sum payout for Saturday night
· $254,000,000 – estimated amount one single winner would claim, after withholding taxes, if they took the one-time cash lump sum
This is the first time the two games combined jackpots for both Powerball and Mega Millions will total over three-quarters of a billion dollars. The current jackpot amounts are:
Powerball at $600,000,000
Mega Millions at $190,000,000
The cost of a Powerball ticket is $2 per play. The cost of a Mega Millions ticket is $1.
The current Powerball jackpot is the second largest jackpot in the history of the world. The world record jackpot is $656 million on Mega Millions from March 2012.