Powerball Jackpot Rises to $1.4 Billion

TALLAHASSEE, FL — As Powerball fever strikes the nation, the jackpot for this Wednesday’s drawing has climbed to a record-breaking $1.4 billion.

According to the Florida Lottery, that number is just an estimate of what the actual prize might climb to before the late-night drawing Wednesday.

“Don’t wait to purchase tickets,” the lottery reminded on its Facebook page.

Wondering just how much that $1.4 billion would mean in take-home cash for a Floridian?

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• $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 $651 million richer if a lump sum payout were selected. The annuity payout over 30 years would net a Floridian an average of $35 million a year. The total payout over 30 years is estimated at just over $1 billion. Remember, even though Florida doesn’t have lottery taxes, Uncle Sam will take a cut of the winnings.

Wednesday’s $1.4 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!