Powerball jackpot grows to at least $320 million

Powerball jackpot excitement is starting to grow. No one selected the winning numbers in the Wednesday, March 20, 2013 drawing, which was worth $260 million. It marked the 12th consecutive drawing without a winner.

Since no one selected all of the winning numbers along with the Powerball on Wednesday, the jackpot for Saturday’s drawing is expected to reach at least $320 million. If someone wins on Saturday, they would receive annuity payments totaling $320 million or they could opt for the lump- sum cash payment of about $198 million.

Wednesday’s winning numbers were 13, 14, 17, 43, and 54 with Powerball of 15. There were three individual tickets sold that matched the first five numbers, but not the Powerball. These tickets are each worth $1 million. Only one number separated these three tickets from the Powerball jackpot and while this is certainly frustrating for the three ticket holders, it is great news for the Powerball lottery and frequent buyers of Powerball tickets because it means the jackpot for Saturday will be even larger.

At $320 million, this Saturday’s Powerball is large enough to rank among the top 15 largest annuity payouts in lottery history. The largest jackpot ever was the $656 million Mega Millions prize split among three ticket holders on March 30, 2012. The Powerball jackpot of $587.5 million divided between two ticket holders on November 28, 2012 was the largest Powerball ever and ranks as the second largest annuity payout in lottery history.

Tickets for the Powerball drawing will be available for sale until 9:59 p.m. EDT on Saturday, March 23, 2013. The drawing itself will take place one hour later, at 10:59 p.m. EDT.

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, Houston Finance Examiner

Bryan Carey is a financial professional with an MBA in Financial Management and more than twenty years experience working in the accounting, finance, and management fields. He has served as a corporate Controller, Financial Analyst, Financial Services Representative, Accounting Manager, and...

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