$700 Million Powerball Jackpot: What's It Worth to a Floridian?

TAMPA, FL — With no jackpot winner in Wednesday night’s $524 million Powerball drawing, the stakes for Saturday have climbed to a record-breaking level. With an anticipated $700 million now on the line, the jackpot in the multistate lottery is officially the highest in history.

But, just how much would that $700 million really add up to after the government gets its share?

The folks at USAMega.com crunched the numbers for each of the states that participate in Powerball, including Florida. With no state tax on lottery prizes, the site’s analysts say if a Floridian happens to pick Saturday night’s numbers, he or she would be $321,300,000 richer if a lump sum payout were selected. The annuity payout over 30 years would net a Floridian an average of $17.5 million a year. The total payout over 30 years is estimated at $525 million. Remember, even though Florida doesn’t have lottery taxes, Uncle Sam will take a cut of the winnings.

See Also:

• $1 Million Powerball Ticket Sold in Dunedin

While no one won the $524 million jackpot Wednesday night, two $1 million tickets were sold in Florida. According to the Florida Lottery, one ticket originated in Dunedin and the other in Fort Lauderdale.

Saturday’s $700 million drawing takes place at 10:59 p.m. Ticket sales stop at least 59 minutes before the drawing.

Powerball is played in 44 states, Washington, D.C., Puerto Rico and the U.S. Virgin Islands.

What would you do with that much money? Tell us by commenting below!

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