Powerball Leaps to $1.3 Billion

CONCORD, NH - More than doubling since the drawing on Jan. 6, 2016, the New Hampshire Powerball jackpot is projected to reach $1.3 billion for the drawing on Wednesday, Jan. 13, according to officials.

The record-setting jackpot, already the largest in U.S. Lottery history, continues to grow following Saturday night’s drawing, which boasted a $950 million jackpot. The Powerball jackpot has been increasing since Nov. 4, 2015. The one-time cash payout is projected to increase to $806 million. (Estimated jackpot amounts are before taxes).

“I knew someday we would be lucky enough to see a $1 billion jackpot,” said Charlie McIntyre, executive director of the New Hampshire Lottery Commission. “Everywhere you go, people are talking about Powerball. The buzz is incredible at our New Hampshire retailers. We’re hoping a lucky New Hampshire player becomes the country’s first Powerball billionaire.”

While the $1.3 billion Powerball excitement is palpable throughout the state, McIntyre noted that jackpot has pushed the New Hampshire Lottery’s billboards and jackpot signs to the max.

“We’ve never experienced a jackpot of this size and our signage wasn’t designed to exceed three digits,” he said. “As you drive around the state our signage will say that the Powerball jackpot is $999 million, but rest assured, the true prize is $1.3 billion.”

Powerball has gone the last 19 drawings without a winner. Standing at $300 million for the drawing on December 30, 2015, the Powerball jackpot has more than tripled in just two weeks. Prior to Saturday’s drawing, the largest Powerball jackpot was $590 million, which was won in May 2013 in Florida.

The Powerball drawing results from January 9 were: 32-16-19-57-34 PB-13 with a Power Play of 3.

While there were no jackpot winners in New Hampshire, five $50,000 prizes were won in Manchester, Nashua, Salem, Merrimack and Windham.

1. Bunny’s Superette – Manchester
2. Nashua Shell – Nashua
3. Shaws Salem – Salem
4. 7-Eleven – Merrimack
5. Howie Glynn & Sons Convenience Store – Windham

Powerball tickets are on sale at more than 1,250 retailers in New Hampshire until 9:50 p.m. Wednesday. Powerball tickets cost $2 per play. Drawings are held Wednesdays and Saturdays at 11 p.m.

What should winners do?

So what should you do if you win the lottery? Alexa von Tobel, CEO of the online financial planning website LearnVest, offered a few tips to Patch from a financial planning standpoint.

Sign the ticket: The most important step ensures you claim the ticket as your own.

Maintain anonymity: In many states, von Tobel says, you have a whole year to claim the prize.

“If you let your name be released to the public record, a swarm of people will almost immediately descend on you, legitimate and not, trying to make a grab for your business,” she said.

“Some past lottery winners have even felt the need for police escorts, have received threats and have been tempted to run away or leave their hometowns because of the sheer number of people who “want a piece of them.”

Assemble a financial planning team: “You must decide whether including whether to take a lump sum or an annuity,” she said. “There are many pros and cons to weigh: including estate taxes, how much money you’ll ultimately make, whether you’ll be able to handle it all at once, etc.”

Wait six months before making any major decisions: “It’s all too easy to blow through those millions,” von Tobel said. “In fact, according to a 2015 study by the Camelot Group, 44 percent of winners spend their entire winnings within five years.”

Feroze Dhanoa contributed to this report.