$1.3 Billion Powerball: What It Adds Up To In Florida

With no jackpot winner in Saturday night’s $900 million Powerball drawing, the stakes for Wednesday have climbed to a record-shattering level. With an anticipated $1.3 billion now on the line, the jackpot in the multistate lottery is officially the highest in history.

But, just how much would that $1.3 billion 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 Wednesday night’s numbers, he or she would be $604.5 million richer if a lump sum payout were selected. The annuity payout over 30 years would net a Floridian an average of $32.5 million a year. The total payout over 30 years is estimated at $975 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 jackpot winners have resulted from the lottery’s climb to more than $1 billion, two lucky Floridians each won $1 million in the Jan. 6 drawing when the jackpot was estimated at $524 million. According to the Florida Lottery, one ticket originated in Dunedin and the other in Fort Lauderdale.

Wednesday’s $1.3 billion 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!