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No Winner: Powerball will reach $1.3B by Wednesday

Lottery officials across the country said Sunday that there was no winner for the record breaking jackpot of almost $950 million, which means that the beat will go on and the next drawing will surpass $1 billion. The winning numbers for Saturday’s drawing were 16-19-32-34-57, with a Powerball number of 13. Officials from the Multi-State Lottery Association, which runs the Powerball game, pointed out that they expected about 75% of all number combinations would have been purchased by Saturday for that game. However, the winning combination remained unsold. Lottery officials say that the jackpot for the upcoming game will likely reach $1.3 billion, and if previous games have been any indication — that estimation could be low. Officials point out that the cash value of the winning ticket, if all numbers including the Powerball are matched, would have a value of $806 million.The $806 million is a reflection of the one-time cash payout, which is less than the total payout, if the individual elected to receive the 29 annual payments. In all, roughly half of the winnings would be paid back in taxes, according to lottery officials — but even at that, the payout is still worth nearly $500 million to the winner.

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