$1.5 Billion Powerball: What It's Worth In Florida?

TAMPA, FL — As Powerball fever continues to grip the country, the jackpot for this Wednesday’s drawing has soared to new heights.

Estimated at a record-busting $1.5 billion as of Tuesday morning, the prize could climb higher in advance of the Wednesday draw.

Wondering just how much that $1.5 billion would mean in take-home cash for a Floridian after Uncle Sam takes a big bite?

See Also:

• $1 Million Powerball Ticket Sold in Dunedin
• $1 Million Powerball Ticket Sold In Tampa Area

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 $697.5 million richer if a lump sum payout were selected. The annuity payout over 30 years would net a Floridian an average of $37.5 million a year. The total payout over 30 years is estimated at $1.125 billion. Remember, even though Florida doesn’t have lottery taxes, Uncle Sam will take a cut of the winnings.

Wednesday’s $1.5 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!