Why is the cash option always a different percentage of the annuity from draw to draw?
If you’re calculating what percentage the cash value is of the annuity, then you’re looking at it backwards. The cash value is the starting point, as it is a direct percentage of ticket sales. Then the annuity amount is calculated from that, based on prevailing interest rates. Since the interest rates are constantly changing, the annuity amount calculated on one day will be a different number than if it is calculated the next day. So when a drawing occurs and the lottery has to estimate the next annuity jackpot, they first estimate the number of tickets that will be sold for the next drawing, which determines what the cash value estimate is (because a fixed percentage of each ticket sold goes toward prizes). Then they finally calculate what the annuity will be based on the current interest rates.
USA Powerball: How to win & How it works
After purchasing your ticket, pick five random numbers between 1 and 69, these are usually the white balls. Next, pick just one red ball, with the numbers between one and 26. Alternatively, Multilotto assists you in this process with the quick pick feature that makes the random pick for you. If you pick the 6 numbers right, you win the jackpot whose minimum is $40 million. Tickets go for just €3.50 per line. The Powerball draw takes plays every Saturday and Tuesday of the week. The draws are all televised in the states but Multilotto users get to see the results immediately after the completion of the draws.
Apart from the jackpot, the prizes you win are dependent on which numbers you made a correct pick on. If you matched a red and white ball you get a €4 win, you also get the same amount for matching just one red ball right. Matching three white balls guarantees a win of €7 which is the same amount you get for matching one red ball plus two white balls.
Exciting USA Powerball Lottery Stories
The Biggest Jackpot In Powerball History
If no player matches the 6 numbers, the jackpot amount for that draw is rolled over to the next one. In January 2016, the Jackpot amount for that draw had amounted to an enormous $1,586,400,000. Three lucky players had matched the numbers right, one from Florida, a couple from Tennessee and another couple from California. As a general rule, if more than one player hits the jackpot, the amount is divided equally among them. In this particular draw, they all walked away with $327.8 million, (before taxation). They also had an option get the amount in 30 annual payments but chose to pick it in a lump sum.
The Massive $758.7 Million win
At the end of summer, in August 2017, a 53-year-old Mavis Wanczyk won the second highest jackpot ever won in Powerball history. The hospital worker from Massachusetts bagged a mighty $758.7 million win. The most amazing part was the system she used to pick his lucky numbers. They were all numbers from her birth date, so maybe you could try this and await the lottery results tonight and try your luck too. This jackpot is actually the highest amount won by a single ticket.
Apart from the top two, there are many more occasions where excellent jackpot wins were made. In 2015, a resident of Michigan, known as Julie Leach won $310 million. She chose to get a lump sum amount and went home with $ 140 million. During the same year, three lucky players also won a $564 million jackpot that was divided amongst them.
Other Major Jackpots Won In Powerball
On May 18, 2013, a very lucky Gloria Mackenzie won the only winning ticket for the $590 million dollar jackpot. The 84-year-old explained how while she was purchasing the ticket another player was kind enough to let her pass the queue to purchase the winning ticket. In the previous year, on 28 November, two lucky players get to win and split the $587.5 million win.
on 15th February 2015, three lucky players, Andrew Weber, Marie Holmes and an anonymous player from Puerto Rico won the $559.7 million jackpot. Staying anonymous when you win the lottery is also an option, as long as you present the winning ticket to the Powerball team which at Multilotto is done for you for the mini draws and deposited into your account. A single ticket won the Powerball draw on 6th January 2018 and was worth $559.7 million.
Is it legal to play the lottery over the Internet?
The state lotteries and MUSL (the organization that runs Powerball) are all very firm in their assertion that playing the lottery in any manner over the Internet is illegal. We are not lawyers and can’t provide legal advice, but we are not so sure about their position. Their absolute certainty that it is illegal may have more to do with not wanting to lose control of the player interaction, and less to do with a firm legal footing.
When we assess the legality, we look at what has actually happened in court cases. There have been people in the past who purchased a lottery ticket from an Internet Web site, subsequently won the jackpot, and the lottery attempted to block them from receiving the jackpot. In each case, the winners took the lottery to court and won. They received their jackpot as if they walked into a store and purchased a ticket.
You must keep in mind that any type of Internet-based lottery service is not risk-free. From a legal standpoint, the services are dealing in loopholes in the current law, and the US Congress has taken steps to make those loopholes tighter, particularly in trying to prevent banks and credit cards from allowing Internet payments for lottery services. But there is a much bigger threat when you use an Internet lottery service: getting ripped off.
By not making a purchase in a store, you may be doing something worse than throwing your money away: you may be helping to keep a scam operation running. Stay away from anything referring to a «syndicate». We are not aware of any site using that terminology that is not a scam. Also beware of sites that state «Insured by ___» at the bottom. It is like saying «We don’t really buy lottery tickets, but trust us, you’ll get paid if you win.» Have you ever heard of an insurance company paying out a $200 million Powerball jackpot? We haven’t.
We do allow some advertising on USA Mega for lottery services. We recommend that USA residents stay away from such services, and make your purchases in a store. The ads are directed at non-USA residents, who may not have the online lottery restrictions that exist in the USA.
Can non-US citizens play? What if a non-US citizen wins?
Yes, non-US citizens can legally play, and non-US citizens are eligible to win any prize offered in the game.
If a non-US citizen wins, they would claim their prize in the same manner that a US citizen would, but the taxes withheld would be different. For example, federal withholding for non-US citizens is a flat 30%. Also, individual states may have different tax structures for non-US citizens than they do for US citizens. Depending on which country the person is a legal resident of, there also may be tax treaties between the US and that other country which could be helpful in offsetting whatever the US tax liabilities are.
In short, non-US citizens can play and win Powerball. If a non-US citizen wins a large prize, they will be responsible for some amount of tax, which in the end will probably be an amount similar to what a US citizen would pay, but there are so many possible variations with international tax codes that you’ll need to consult with a local tax attorney if you need to know a precise amount of tax liability.