Estimated Powerball jackpot steady at $1.5 billion

The Powerball lottery drawing will be held on Wednesday, and its payout is expected to increase due to strong ticket sales. California does not apply state taxes to lottery winnings.

As the nation watched what was the largest jackpot in world history – a staggering $1.586 billion – details were still emerging.

California does get some money from Powerball, with 40 percent of the state’s sales going toward California’s education system, Traverso said. However, the states that participate in Powerball will definitely be winners. The jackpot is not the only way to win big.

During that span, lottery players won almost $11.6 million in Powerball prizes.

Financial Advisor Mike Klauke of Klauke Investments in Onalaska said if someone does win, before they spend any money, the first thing they need to do is sign the ticket.

A Boston company wants to give you a chance to win a portion of Wednesday’s historic Powerball jackpot without spending any cash.

“The game has five white balls labeled from 1 to 69 and one red ball labeled from 1 to 26”, Ernst explained. It could take longer to figure out where any of those winning tickets were sold.

“You can pick your own numbers, or you can do a Quick Pick, as we call it”, she said. By lowering the chance of a victor in each individual drawing, the jackpot rolls over to the next drawing leading to unprecedented windfalls.

The California Lottery posted on Twitter that a jackpot winning ticket was confirmed sold.

Tickets cost $2 or $3 for a Power Play ticket.

The lump sum before taxes would be $930 million.

It could take several hours before officials know if any tickets sold since last Saturday’s drawing matched all six winning numbers drawn, which were 4-8-19-27-34 and Powerball 10. For all the numbers you could choose on your ticket (or have randomly selected by the computer), there are more than 292 million options. The Powerball jackpot has grown to over 1 billion dollars.