The Powerball multi-jurisdictional lottery is closing in on its record high annuity jackpot, but has already surpassed its top cash jackpot, as the modifications implemented in the Jan. 15, 2012 seem to be taking effect, while no one picked all 5 numbers plus the Powerball on Wed. Feb. 8, 2012.
The changes made on Jan. 15, 2012, including a higher entry fee were made to increase the average size of the jackpot. With that, this value, $325 million, is nearing the largest Powerball jackpot ever, which was won on February 18, 2006 and had an annuity value of $364 million. This was the third-largest prize awarded for one set of numbers drawn in a U.S. lottery game; the top two jackpots belong to rival multi-jurisdictional lottery Mega Millions.
On Saturday, Feb. 11, the estimated jackpot will be $325 million for the top prize on an annuity basis. The cash payout is estimated to be $202.9 million. Although there were no big jackpot winners on Wedneday, Feb. 8, you can find a table of winners associated with the winning numbers, which were 17-28-38-39-51 and a Powerball number of 33, below.
There were five new millionaires made, in the second ranked $1 million prize tier. None of them chose the Power Play option. Those winners were 1 from Georgia, 1 from Missouri, 1 from Nebraska, 1 from New Jersey, 1 from North Carolina.
What's interesting, however, is because of the way the cash vs. annuity payout is calculated ... using the interest on unpaid winnings to generate the rest of the money ... the Saturday Powerball drawing will already set a record for Powerball. That $364 million Powerball annuity jackpot had a cash value of $177,270,519.67, which is what the winners, a group of eight food-plant workers in Nebraska, opted to take. WIth Saturday's cash estimate being $202.9 million, it's already a record.
The Jan. 15, 2012 changes were made to increase the average jackpot and create differentiation from the Megal Millions lottery. Changes including increasing the entry amount, doubling it to $2, and decreasing the odds by reducing the overall number of Powerball numbers that a player must choose from 39 to 35. At the same time the Power Play option was modified so that players have a consistent expectation of what the Power Play multiplier will be.
At the same time, the "second" tier prize was raised to $1 million, meaning the MUSL could now advertise a better chance to become a millionaire (which it does).
Here is the table of winners for the Powerball drawing for Feb. 8, 2012. PB = Powerball.
| Prize Level |
Winners | Prize | PowerPlay Winners |
PowerPlay Prize |
|---|---|---|---|---|
| 5-of-5 + PB | 0 | $250 Million | - | - |
| 5-of-5 | 5 | $1,000,000 | 1 | $2,000,000 |
| 4-of-5 + PB | 52 | $10,000 | 12 | $40,000 |
| 4-of-5 | 1,966 | $100 | 327 | $200 |
| 3-of-5 + PB | 3,194 | $100 | 524 | $200 |
| 3-of-5 | 55,074 | $7 | 8,499 | $14 |
| 2-of-5 + PB | 107,802 | $7 | 16,487 | $14 |
| 1-of-5 + PB | 355,772 | $4 | 54,627 | $12 |
| 0-of-5 + PB | 719,945 | $4 | 110,684 | $12 |
Image Source: Wikimedia Commons
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