Powerball Winning Tickets
A Vermont convenience store recently sold a Powerball winning ticket worth $366 million. The ticket matched all six numbers and was bought by an unidentified person in Middlebury, Vermont. The winning ticket holder can opt for a cash payment or choose to take a 30-year annuity. Both options are subject to taxes. The Vermont Lottery is still verifying the identity of the ticket holder.
Powerball winnings are taxed differently in every state and are subject to state or local taxes, depending on where they were sold. In states like California, winning tickets are subject to federal income tax only. While winnings in states like New Hampshire, Maine, Texas, and Puerto Rico are tax-free, there is a federal tax on winnings that come from outside their jurisdiction.
Another millionaire was sold a ticket for $185.3 million. In Michigan, a winning Powerball ticket bought at a Kroger in Novi matched five of the six numbers and the Powerball to win the jackpot. The winning ticket also included the Power Play option, which doubles the prize amount.
Where Are Powerball Winning Tickets Sold?
Powerball drawings are conducted on two identical machines. The Halogen machine, manufactured by Smartplay International, has eight sets of balls, one of each color. The balls are mixed before the drawing, by a turntable at the bottom of the machine. The ball then rises up a shaft and travels a rail to be displayed on a screen.
Powerball jackpots are guaranteed at $10 million or $20 million. The winning ticket must be claimed in the jurisdiction where it was purchased. The lottery is held on Mondays, Wednesdays, and Saturdays at 7:59 p.m. The ticket can be purchased up to two days before the draw. A winning Powerball ticket has a nine-number combination. The more winning numbers on the ticket, the more money you will win.
Powerball is now played in 45 states, Washington D.C., Puerto Rico, and the U.S. Virgin Islands. It has generated huge prize pools and the biggest Powerball winners have won hundreds of millions of dollars in prize money. Currently, it holds the record for the largest jackpot offered in a lottery. Powerball tickets cost $2. The lottery is played in 45 states, the District of Columbia, and Puerto Rico.
The Powerball jackpot has reset to $20 million for the next drawing on Saturday. In comparison, the jackpot for Mega Millions is $360 million with a $193 million cash option. It is estimated that the odds of matching all six numbers are one in 292 million for a Powerball ticket.
