Powerball jackpot, already at record $500M, could grow
Posted:
Updated:
A billboard shows the Powerball jackpot stands at $500 million (Credit: Fox 2 News)
By Maurielle Lue Fox 2 News
SOUTHFIELD, Mich. (WJBK) -- The Powerball jackpot currently stands at $500 million. That number is expected to go up before the big drawing on Wednesday night.
It's already the biggest jackpot in Powerball history. Your chances to win are about one in 175 million.
This lottery has also defied the odds, rolling over a whopping 16 times without anyone hitting the jackpot.
Lottery hopefuls on Tuesday were feeling generous with their potential earnings. The lump sum payout is $327 million.
"10 percent to the church, tithes and offering, all of that, and everybody would be happy," one said.
"Give a lot to charity, my temple," another remarked.
"There would be no more working. I know that's number one," another person told us.
The big rush of people buying tickets is expected on Wednesday, which means the jackpot could get even bigger.
Of the $2 cost of a Powerball ticket, $1 goes to the prizes and the other dollar is kept by the state lottery organization, said Norm Lingle, chairman of the Powerball Game Group. After administrative overhead is paid, the remaining amount goes to that state's beneficiary programs.
Some states designate specific expenditures such as education, while others deposit the money in their general fund to help supplement tax revenue.
The federal government keeps 25 percent of the jackpot for federal taxes.
Most states withhold between 5 percent and 7 percent. There's no withholding in states without a state income tax such as Delaware, Pennsylvania, South Dakota, and Texas. A New York City winner would pay more than 12 percent since the state takes 8.97 percent and the city keeps 3.6 percent.
Powerball and Mega Millions games are seeing jackpots grow faster and higher in part because the states that play both games agreed in 2010 to sell to one another.
Both games are now played in 42 states, Washington, D.C., and the Virgin Islands. The larger pool of players means jackpots roll over to higher numbers faster, which tends to increase the buzz about the jackpots which increases sales. It all can result in higher jackpots sooner.
Tuesday, March 12 2013 4:33 PM EDT2013-03-12 20:33:13 GMT
The 75-year-old grandmother charged with open murder in the shooting death of her own grandson could take the stand any day in her own defense, but Tuesday belonged to the prosecution.
The 75-year-old grandmother charged with open murder in the shooting death of her own grandson could take the stand any day in her own defense, but Tuesday belonged to the prosecution.
Wednesday, May 22 2013 10:07 PM EDT2013-05-23 02:07:10 GMT
13 dogs were rescued from a house on Ewers in southwest Detroit. The three most emaciated dogs were taken to the VCA in St. Clair Shores. They are being held in isolation for at least a week.
13 dogs were rescued from a house on Ewers in southwest Detroit. The three most emaciated dogs were taken to the VCA in St. Clair Shores. They are being held in isolation for at least a week and being treated and screened for diseases.
Wednesday, May 22 2013 9:56 PM EDT2013-05-23 01:56:23 GMT
Children were literally screaming for peace. Elementary school students at Cesar Chavez Academy in southwest Detroit spoke out for themselves -- stop bullying and stop the violence.
Children were literally screaming for peace. Elementary school students at Cesar Chavez Academy in southwest Detroit spoke out for themselves -- stop bullying and stop the violence.
Sunday, May 19 2013 9:08 PM EDT2013-05-20 01:08:52 GMT
It's National Boating Safety Week - a good time to learn about new boating safety regulations. Macomb County Sheriff Anthony Wickersham talked with Fox 2 about what boaters need to know.
It's National Boating Safety Week - a good time to learn about new boating safety regulations. Macomb County Sheriff Anthony Wickersham talked with Fox 2 about what boaters need to know.
Wednesday, May 15 2013 9:12 PM EDT2013-05-16 01:12:58 GMT
There was a last ditch effort Wednesday to save Oakman Elementary and Orthopedic School, a Detroit public school that services a high number of disabled and special needs children.
There was a last ditch effort Wednesday to save Oakman Elementary and Orthopedic School, a Detroit public school that services a high number of disabled and special needs children.
Wednesday, May 22 2013 1:36 PM EDT2013-05-22 17:36:39 GMT
Innuendo, sexual advances and an overnight stay in Lansing -- a politician's former aide claims he had to endure a nightmare on the job. Now a sexual harassment lawsuit has been filed against Rep. Brian Banks.
Innuendo, sexual advances and an overnight stay in Lansing -- a politician's former aide claims he had to endure a nightmare on the job. Now a sexual harassment lawsuit has been filed against Rep. Brian Banks.
Wednesday, May 22 2013 9:56 PM EDT2013-05-23 01:56:23 GMT
Children were literally screaming for peace. Elementary school students at Cesar Chavez Academy in southwest Detroit spoke out for themselves -- stop bullying and stop the violence.
Children were literally screaming for peace. Elementary school students at Cesar Chavez Academy in southwest Detroit spoke out for themselves -- stop bullying and stop the violence.
Wednesday, May 22 2013 6:46 PM EDT2013-05-22 22:46:26 GMT
Bugs are important to our environment and can even tell us about our water quality. That's why dozens on local students have been taking part in bug hunts.
Bugs are important to our environment and can even tell us about our water quality. That's why dozens on local students have been taking part in bug hunts.
Wednesday, May 22 2013 11:44 PM EDT2013-05-23 03:44:19 GMT
Find out how you can help the victims of Monday's deadly tornado that ripped through the Oklahoma City suburbs, killing two dozen and flattening neighborhoods, schools and businesses.
Find out how you can help the victims of Monday's deadly tornado that ripped through the Oklahoma City suburbs, killing two dozen and flattening neighborhoods, schools and businesses.
Wednesday, May 22 2013 11:20 PM EDT2013-05-23 03:20:38 GMT
Neighbors said he threatened them with a shotgun, then opened fire wounding two people. Now one of the victims has said he's angry the man accused of pulling the trigger is already out of jail.
Neighbors said he threatened them with a shotgun, then opened fire wounding two people. Now one of the victims has said he's angry the man accused of pulling the trigger is already out of jail.
Wednesday, May 22 2013 10:39 PM EDT2013-05-23 02:39:42 GMT
The Republicans in Lansing are pushing a new bill that would base teacher salaries on student performance. But will merit pay really help kids get a better education? Some say the answer is no.
The Republicans in Lansing are pushing a new bill that would base teacher salaries on student performance. But will merit pay really help kids get a better education? Some say the answer is no.
Wednesday, May 22 2013 10:07 PM EDT2013-05-23 02:07:10 GMT
13 dogs were rescued from a house on Ewers in southwest Detroit. The three most emaciated dogs were taken to the VCA in St. Clair Shores. They are being held in isolation for at least a week.
13 dogs were rescued from a house on Ewers in southwest Detroit. The three most emaciated dogs were taken to the VCA in St. Clair Shores. They are being held in isolation for at least a week and being treated and screened for diseases.
Wednesday, May 22 2013 8:57 PM EDT2013-05-23 00:57:50 GMT
Prosecutors have now filed charges against Myron Williams, a next door neighbor to a woman found strangled in Grosse Pointe Park, but the counts do not include murder.
Prosecutors have now filed charges against Myron Williams, a next door neighbor to a woman found strangled in Grosse Pointe Park, but the counts do not include murder.
A billboard shows the Powerball jackpot stands at $500 million (Credit: Fox 2 News)
