Powerball Winning Numbers Wednesday Jan 3 2018

Powerball's big jackpot reached $460 million for Wednesday, January 3 and if you bought your ticket in Ontario, California, you may want to give it a glance.

Winning Numbers: 2, 18, 37, 39, 42 and the Powerball Number: 12

One lucky ticket holder who purchased at an Ontario gas station had five numbers, missing the Powerball number and is worth $3,264,394.

That ticket was sold at an Ontario Shell gasoline station on E. Holt Avenue. Elsewhere in the state, there were 376,004 winning tickets. Seven lucky ticket holders matched four numbers plus the Powerball and will earn just under $30,000. After that, the prize drops significantly, to with a match four at $150 to the 242,406 tickets who picked the Powerball number, only, and won $4.

This was the 20th drawing since a big winner matching all numbers was selected, with the odds of matching all five numbers and the Powerball number about one in 293 million.

The new Powerball prize for Saturday, Jan. 6, 2018 is expected to reach or exceed $550 million.

Across the country, four other tickets matching five numbers and missing the Powerball number were sold in Florida, North Carolina, New York, and Oregon. Each of those tickets are worth approximately $1 million.

In California, Powerball prize amounts are pari-mutuel, will vary depending on ticket sales and number of winners and will differ from the fixed prizes shown on the Powerball website.

Drawings are every Wednesday and Saturday. Powerball is played in California, 43 other states, the District of Columbia, Puerto Rico and the U.S. Virgin Islands. Players pick five numbers from one to 69 and a sixth, red Powerball number, one through 26. Many people choose a Quick Pick ticket for random numbers. There are different levels of payouts, but to win the jackpot, tickets must match all five numbers plus the Powerball.

When you claim your prize, you may collect the full value paid in 30 installments over 29 years or a one-time lump sum that is smaller than the actual total. The federal tax on lottery winnings is 25 percent.

Winning tickets must be redeemed in the state where purchased regardless of where the winner lives.

Claiming, Safeguarding Winnings
So, what should you do if you win the big prize? 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 advice for winners.

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. In Illinois, the tax hit would be 4.95 percent. 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.

Winning tickets must be redeemed in the state where purchased regardless of where the winner lives.

Patch file photo