If you win the lotto, you may give some of your Enormous loot to close family and friends but you’ll also have to fork some over to the IRS. Buzz60’s Mercer Morrison has the story
Lottery fever escalated Wednesday night as officials announced no ticket won a $550 million Powerball jackpot.
The prize grew to an estimated $625 million, with the next drawing scheduled for Saturday night.
If someone had won the eighth-largest Powerball prize in history Wednesday, they could have chosen a lump sum of $335 million before taxes or receive the prize in annuity payments. The winning numbers were 10, 14, 50, 53, 63 and Powerball 21.
No one has scored the Powerball jackpot since December, when a New York ticket won an estimated $298.3 million.
Lotto mania hits the country several times a year. The Mega Millions grand prize hit $1.5 billion in October, drawing long lines at convenience stores. A woman from South Carolina anonymously claimed the prize earlier this month.
The current Powerball jackpot surpassed half a billion after Saturday’s drawing failed to create the nation’s latest multimillionaire. Still, 44 tickets held the right numbers to win a $50,000 prize.
The likelihood of winning the jackpot is 1 in 292,201,338, according to the Powerball website. About 1 in every 24.87 Powerball tickets sold wins a prize, starting at $4.
Winners typically have 90 days to one year to claim their prize, depending on the selling jurisdiction. Expiration dates are printed on the back of tickets.
Powerball is played in 44 states, Washington, D.C., Puerto Rico and the U.S. Virgin Islands. Tickets cost $2 each.
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