When Is The Powerball And Mega Millions Drawing

The Mega Millions and Powerball jackpots now total more than than $950 million combined after Wed'due south drawing failed to produce a winner.

And this stretch is the commencement fourth dimension that both multi-state lottery grand prizes take been at more than $400 one thousand thousand each. That makes Sabbatum'due south Powerball $550 million jackpot potentially the eighth largest lottery prize ever and Friday'due south Mega Millions $418 one thousand thousand pot potentially the 16th largest lottery prize.

The winning numbers for Wednesday night's Powerball cartoon were 2, 18, 37, 39, 42 and the Powerball was 12. The Power Play number was three.

Wednesday'south Powerball jackpot worth $460 meg was the game's seventh largest and 10th largest for all lottery games in the United States, co-ordinate to Dennis Rosebrough, public relations director for the Hoosier Lottery.

► Jan. 3:No 1 wins Powerball, Mega Millions drawings
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Tuesday'south Mega Millions cartoon would have netted a winner $361 million jackpot.

Here'south what you lot need to know if you play Powerball or Mega Millions:

What is a winning ticket worth?

The Powerball jackpot at present stands at $550 million for Sabbatum'due south drawing, payable in 30 annual installments, with a 1-fourth dimension cash option of $347.ix million earlier taxes.

The Mega Millions thousand prize is $418 1000000 for Friday nighttime's drawing with a cash value of $261 million before taxes.

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No matter how a winner chooses to go, lottery prizes that hefty are taxed as ordinary income and put a winner in the highest tax bracket. So that'south $128.seven 1000000 for the feds right off the top of that Powerball lump sum, non counting state and local taxes.

One benefit of winning now vs. terminal year: The new federal tax cut will allow the winner of Saturday'southward Powerball jackpot who chooses the erstwhile cash pick to keep near $9 one thousand thousand more for himself.

When are the drawings?

Powerball numbers are fatigued at ten:59 p.g. ET every Wednesday and Sabbatum. Mega Millions numbers are drawn at 11 p.m. every Tuesday and Friday.

Observe out where to watch the drawings on your local TV station by heading to your state lottery's webpage. (Lamentable, Alabama, Alaska, Hawaii, Mississippi, Nevada and Utah; you lot tin can't play unless you cross state lines.)

If you'd rather look online, Powerball's drawing is streamed hither; some websites offering live streaming video of Mega Millions drawings, and Mega Millions' official YouTube channel posts its video presently after the live consequence.

Odds of winning

The odds of buying a winning Powerball ticket are ane in 25. The odds of hitting the jackpot are i in more than than 292 one thousand thousand. The odds of condign a millionaire past matching v numbers is 1 in more than 11.5 one thousand thousand.

Mega Millions' odds of winning overall are a little better at 1 in 24. Notwithstanding, the odds of winning the grand prize are ane in more than 302.5 one thousand thousand. A shot at matching 5 numbers for a $1 million is 1 in more than than 12.v.

You take a better risk of achieving sainthood than winning either grand prize, i in twenty one thousand thousand, according to Gregory Baer, author of Life: The Odds.

How much does it cost to play?

Powerball and Mega Millions tickets sell for $2 each.

Powerball players can add Ability Play for an extra $1 per ticket for a chance to multiply a non-jackpot prize upwardly to five times.

Mega Millions players can purchase the Megaplier for an extra $1 a ticket for a chance to multiply a not-jackpot prize up to five times.

How to play Powerball

How to play Mega Millions

If yous win ...

Rosebrough recommends that players sign and secure their ticket. Winners should call the number on the back of their ticket when they are ready to claim their prize.

"Starting time, yous should interruption and have a deep breath," Rosebrough said. "Then, our experience with by winners says you should consult with some experts whether they exist bookkeeping, legal or whatever if you have a major prize."

Rosenbrough has been impressed with well-nigh Indiana winners. Most have had a programme in place before they effort to receive the money.

How long earlier you get paid?

Both Powerball and Mega Millions officials transfer the coin from a central depository of all districts selling tickets — that includes 44 states, the Commune of Columbia, Puerto Rico and the U.S. Virgin Islands for Powerball; Mega Millions sells in all of those places except Puerto Rico — to respective state lotteries within 24 to 48 hours, Rosenbrough said.

Withal, the transfer sometimes can take longer because of things such as long holiday weekends.

Follow Chris Sims and Channing King on Twitter: @ChrisFSims and @ChanningKing

Source: https://www.naplesnews.com/story/money/nation-now/2018/01/04/powerball-mega-millions-need-know/1002979001/

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