The jackpot lottery payout is a huge prize, often a staggering amount of money. Depending on the lottery, a jackpot winner can receive between $700,000 and $1 billion. But the jackpot lottery payout isn’t just about cash. The lottery prize pool also includes the money invested to make an annuity for the winner. In addition, if a jackpot winner wins multiple prizes, the winnings are split equally among all the winners.
In Michigan, a four-person lotto club has won the jackpot with one ticket. It will take them a year to claim their prize. Meanwhile, millions of dollars in unclaimed winnings continue to accumulate every year. In 2016, over $2 billion in lottery winnings went unclaimed. While the lottery jackpot is a dream come true for many people, it is important to protect your identity and keep your winnings private. That way, you can avoid scammers and long lost friends from claiming your prize money.
Powerball has the largest jackpot in the world. It was hit on Jan. 13, 2016, and shared by three winners in three states. The winning tickets were purchased at a 7-Eleven in Chino Hills, California, a Naifeh’s Food Mart in Munford, Tennessee, and a Publix supermarket in Melbourne Beach, Florida.
There has been five jackpots worth over a billion dollars. The Mega Millions and Powerball jackpots both exceeded $1 billion in 2016. The Powerball jackpot topped $1.586 billion in January 2016, and was $1.586 billion last week. While the jackpot lottery keeps getting bigger, the odds of winning the big prize are longer than ever.
The drawing for the Powerball lottery was delayed by 10 hours due to a security issue in another state. Despite the lengthy delay, officials were able to draw the winner’s ticket in Tallahassee, Florida, at 8:57 a.m. ET on Tuesday morning. However, the jackpot had already been exceeded by the time the drawing was held.
The Powerball jackpot topped its previous record of $1.586 billion, and the cash prize is $929 million. The Powerball jackpot is the biggest lottery jackpot in the U.S., and a winner can split it with two other winners. The current Powerball draw began on Aug. 4, 2013. Powerball tickets are sold in 45 states and the U.S. Virgin Islands. One percent of the prize is paid to retailers.