Powerball jackpot at $1.5 billion fuels ticket-buying frenzy – The Wednesday night’s Powerball appeared set to eclipse an estimated $1.5 billion bounty, prompting the players to go on a ticket-buying frenzy in pursuit of the princely payout.
The numbers, drawn at 11 p.m. ET were: 4, 8, 19. 27, 34, with a Powerball of 10. The multiplier was 2X. Earlier on Wednesday, lottery officials said that if no one matches the six winning numbers, the next drawing – set for Saturday – may feature a jackpot jumping to as much as $2 billion.
Since November 7, when the Powerball was reset to its minimum $40 million, the lottery has seen no winners. The odds of winning are quite impossible – one in 292.2 million – but the temptation of the big payoff is definitely luring. The winner would be allowed to choose an annuity payment option over 29 years or take a cash prize of about $930 million at one time.
Even after a 40 percent cut, the final take home would still be a staggering $560 million. Powerball is played in 44 states, the District of Columbia, the U.S. Virgin Islands and Puerto Rico.
According to the Multi-State Lottery Association, which runs Powerball, the people who live in the other six states where the Powerball is not available, lottery sellers in border towns are witnessing long queues.
It is learned that Canadians are also showing interest in buying the tickets and many are crossing the US border and lining up outside one Toronto bakery where tickets were sold. It is legal for tourists and non-US residents to play the U.S. lottery.
It is notable that a Canadian winner who does not live in the United States, would have to pay a 30 percent US withholding tax, plus possible state taxes. They would not face additional Canadian taxes.