The Powerball jackpot now represents nearly a billion dollars in revenue from a $2 ticket, so you might want to keep a close eye on the winning numbers on Monday — when the numbers are finally drawn.
The Monday, Nov. 7 drawing has been postponed due to a “technical issue,” Powerball officials said during a live broadcast from Tallahassee, Florida at 11 p.m. ET.
Powerball officials said that as soon as the outages are resolved to hold the drawing, the results will be displayed on the Powerball website and its YouTube channel.
“Today’s Powerball drawing has been postponed due to the fact that the participating lottery needs additional time to implement necessary security protocols,” California Lottery officials said on social media. “Powerball has strict security requirements that all 48 lotteries must meet before a drawing can take place. If the necessary security protocols are met, the drawing will be conducted under the supervision of lottery security personnel and independent auditors.
“Winning numbers will be published as soon as they are available. Thank you for your patience.”
A ticket that matches all six numbers is worth approximately $1.9 million. Taking the lump sum, the top prize should pay out $929 million.
This lump sum will be less after taxes — 25% is kept by lottery officials and the winner is responsible for the rest. Most states also tax state winnings, although 15 states, including California, Florida and Texas, do not.
Adjusted for the highest taxes, the winner will still take home more than a $500 million lump sum.
With annuitized payments (and after taxes), the winner will receive about $15 million in the first year, rising to a 30th annual payment of about $62 million — for a total after-tax payout of about $1.2 billion in California.
Saturday draw
After no one took home the $1.65 billion jackpot in Saturday’s drawing, the estimated prize grew by another quarter of a billion dollars in two days.
Sixteen players nationwide matched the first five numbers in Saturday’s drawing, but not the Powerball, for about $1.1 million each, including three California winners. The California winning tickets were sold at a supermarket in Susanville, a Rite Aid store in Encinitas and a 76 gas station in San Leandro.
More than 1.5 million winning tickets in Saturday’s drawing were sold in California, with more than 1.4 million paying $5 or $4 California Lottery website.
Before Saturday and Monday’s drawings, the all-time jackpot in US lottery history was $1.586 billion in 2016, which was also Powerball. It was split three ways between the winners in California, Florida and Tennessee.
About Powerball
The second largest lottery jackpot was the $1.537 billion Mega Millions prize in 2018. Mega Millions player from Illinois hits $1.337 billion jackpot July 29, reports California Lottery News Release.
Powerball is played in 45 states as well as Washington, DC; Puerto Rico; and the US Virgin Islands.
Five states—Utah, Nevada, Hawaii, Alaska and Alabama—do not have a lottery. A number of reasons put them off, including objections from conservatives, concerns about the impact on low-income families, or a desire not to compete with existing gaming companies.
According to the California Lottery, the odds of matching all five numbers plus the Powerball number are about 1 in 292 million.
California Lottery
Contribution to education from this latest Powerball record sequence, which started back in early August, according to the California Lottery, was valued at $149 million at 5 p.m. California sales for this Powerball streak, which began Aug. 6, totaled $372.7 million as of 5 p.m. Monday.
The California lottery sold about $62.4 million worth of Powerball tickets by 5 p.m. Monday alone, lottery officials said. The last player to win the $206.9 million Powerball jackpot was on Aug. 3 in Pennsylvania. Since then, there have been 40 Powerball drawings without a top winner.
The Associated Press contributed to this report.
This story was originally published November 7, 2022 8:08 p.m.
