Powerball Jackpot Climbs to $1.4 Billion; Where to Buy Tickets in Massachusetts

By FEROZE DHANOA (Patch National Staff)

Saturday’s Powerball drawing came and went after much anticipation. The winning numbers were 16-19-32-34-57 and Powerball 13, however there were no winners for the near $950 million jackpot.

The jackpot has now soared to a record $1.4 billion after it started at a humble $40 million on Nov. 4. The cash payout for the prize would be about $868 million. That drawing will be held Wednesday, Jan. 13.

Find out where to buy tickets in your town here.

The jackpot will be nearly double a 2012 Mega Millions jackpot of $656 million that had been the record for the largest lotto jackpot in U.S. history.

While no one claimed the grand prize, several winning tickets worth $1 million, an amount that is won by matching five of the winning numbers except for the Powerball, were sold across the United States.

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The odds of winning the big prize are 1 in 292,201,338, according to MarketWatch. The service points out that the chances of being struck by lightning in any given year are 1 in 700,000. Officials at the Multi-State Lottery Association said they expected 75 percent of the possible number combinations to have been sold for Saturday’s drawing, according to the Associated Press.

According to the official Powerball website, the jackpot is won by matching all five white balls, in any order, and the red Powerball. But if you miss that coveted Powerball, you can still win a cool million dollars.

Click here to see how you can win a Powerball Prize

If no one matches all five numbers plus the Powerball for Wednesday’s drawing, the jackpot will continue to grow. The payout is based on sales and ticket sales have continued to increase as the pot has grown.

Powerball is played in 44 states, Washington, D.C., Puerto Rico and the U.S. Virgin Islands. Prior to this jackpot, the largest Powerball jackpot $590.5 million, won in Florida in May 2013.

So what should you do if you win the lottery? Alexa von Tobel, CEO of the online financial planning website LearnVest, offered a few tips to Patch from a financial planning standpoint.

Sign the ticket: The most important step ensures you claim the ticket as your own.

Maintain anonymity: In many states, von Tobel says, you have a whole year to claim the prize.

“If you let your name be released to the public record, a swarm of people will almost immediately descend on you, legitimate and not, trying to make a grab for your business,” she said.

“Some past lottery winners have even felt the need for police escorts, have received threats and have been tempted to run away or leave their hometowns because of the sheer number of people who “want a piece of them.”

Assemble a financial planning team: “You must decide whether including whether to take a lump sum or an annuity,” she said. “There are many pros and cons to weigh: including estate taxes, how much money you’ll ultimately make, whether you’ll be able to handle it all at once, etc.”

Wait six months before making any major decisions: “It’s all too easy to blow through those millions,” von Tobel said. “In fact, according to a 2015 study by the Camelot Group, 44 percent of winners spend their entire winnings within five years.”