A lucky someone on Wednesday might win a life-changing US$835-million (over C$1.1 billion) Powerball jackpot.
The estimated $835-million prize is set to be the fourth largest in Powerball’s history. The jackpot swelled after there were no tickets to match all of the numbers called in Monday’s draw (10, 12, 22, 36 and 50, with a Powerball of 4).
Though the jackpot remained, three tickets sold in Florida and one in Oregon successfully matched all five white balls to win the US$1-million (more than C$1.3 million) prize during Monday’s draw.
Should someone win the $835 million on Wednesday, they’ll be given the option to accept payment in 30 annual instalments or a lump sum amount, which is an estimated US$390 million (about C$526.7 million).
According to Forbes, most big lotto winners opt for the lump sum. After a 24 per cent federal tax, the winner would receive US$296.7 million (nearly C$400.7 million) — though the taxed amount may be higher depending on the winner’s income level. Lottery policies in certain states may also mean further taxation for the winner, depending on where they live.
According to Powerball, the odds of winning this newest jackpot are about one in 292.2 million.
How can Canadians play?
Powerball players do not need to be U.S. citizens or residents to enter the lottery, meaning Canadians are more than welcome to try their luck.
There are a number of techniques for Canadians to get U.S. lottery tickets, but the simplest method is travelling across the border and buying one in the States yourself. Friends and family members in the U.S. can also buy tickets for other people, provided they are trustworthy enough not to run off with a potentially winning ticket.
For Canadians who don’t think their luck will extend beyond home soil, excitement for the Ontario Lottery and Gaming Corporation’s (OLG) latest Lotto 6/49 draw is still mounting.
Also on Wednesday, someone is guaranteed to win the record-breaking $68-million jackpot. The prize is the largest in the game’s history.
Only the gold ball remains in Wednesday’s Lotto 6/49 draw. The 29 white balls, which each represent a guaranteed $1-million prize, have all been drawn.
The winning numbers from Saturday’s draw were 5 18 22 26 28 45 with a bonus 14.
— With files from Global News’ Kathryn Mannie
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