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The Powerball jackpot just keeps growing and it has reached a $253 million prize —that’s just over a quarter of a billion dollars — for Saturday night’s drawing. The one-time cash amount will pay an estimated $148.4 million to the person who correctly picks all of tonight’s Powerball numbers.
What time are the winning Powerball numbers drawn? Numbers are selected every Wednesday and Saturday at 10:59 p.m. Eastern time, with Powerball results typically posted within five minutes.
The winning Powerball numbers for Saturday, Oct. 6, are: 01, 22, 27, 53, 67 and the Powerball of 15.
The Powerball game is played by matching all five white balls in any order and the red Powerball number. The odds of picking the correct Powerball grand prize numbers are one in 292,201,338. Powerball tickets cost $2 each, and are sold at thousands of Lottery retailers. Find out where you can buy your Powerball tickets here.
In most states, ticket sales cut off at least an hour before the drawing, but a state may cut off sales earlier, such as Illinois, which ends sales three hours before the drawing. In Maryland and New Jersey, ticket sales end at 9:59 p.m.; in Virginia, they close at 10 p.m. Check with your state lottery for the sales cut-off time.
You have a better chance of hitting the jackpot if you let the computer pick your numbers, according to the Multi-State Lottery Association, which operates the Powerball game and reports that about 75 percent of winning tickets have numbers chosen by a computer.
The largest Powerball jackpots ever are as follows:
- $1.586 billion, Jan. 13, 2016
- $758.7 million, Aug. 23, 2017
- $590.5 million, May 18, 2013
- $587.5 million, Nov. 28, 2012
- $564.1 million, Feb. 11, 2015
- $559.7 million, Jan. 6, 2018
- $487.0 million, July 30, 2016
- $456 million, March 17, 2018
- $448.4 million, Aug. 7, 2013
- $447.8 million, June 10, 2017
- $435.3 million, Feb. 22, 2017
The lottery game is played in 44 states plus the District of Columbia, Puerto Rico and the U.S. Virgin Islands. Powerball drawings can be seen on 125 TV stations nationwide. They may also be available on cable or your mobile device. Drawing shows are also posted to Powerball.com under the video section and to YouTube.
Claiming, Safeguarding Winnings
So, what should you do if you are lucky enough to claim the Powerball jackpot? Many lottery winners hire an attorney, financial planner or both, since most people don’t exactly know what to do when they suddenly come into so much money. Some even bring their lawyer with them to claim their prize. The lottery does not offer any counseling services or financial advice for winners.
You have two choices when you claim your prize: the full value paid in 30 installments over 29 years, or a one-time lump sum that is smaller than the actual total. Then there are the taxes. The federal tax on lottery winnings is 25 percent. Then, any extra income taxes like state or city would apply.
Financial experts say that if you can get more than a 3 or 4 percent return on an investment, the lump sum is actually the best way to go in the long-term.
(For more news like this, find your local Patch here. If you have an iPhone, click here to get the free Patch iPhone app; download the free Patch Android app here.)
Patch file photo courtesy of Powerball
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