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UPDATE: No one picked the winning numbers in Wednesday's $360 million Powerball drawing, The Associated Press reported.
The jackpot in the multi-state lottery soared to $360 million after no one matched all six numbers in Saturday's drawing. The last major Powerball grand prize was $338 million, which was won in March by a former bodega owner from New Jersey. The largest Powerball jackpot ever was $587.5 million, split by two winning tickets in November 2012. A South Carolina woman's luck stopped short after she told a few friends about her winning $500 ticket. NEW YORK — The likelihood of someone winning $500 million in Powerball lottery Wednesday night is very slim. It’s because the jackpot is actually $338 million for any winner who decides to take a lump sum payment. The larger price amount includes the interest that accumulates from the prize money that is invested over the payout period of 29 years. Terry Rich, president of the North American Association of State and Provincial Lotteries, says it would confuse people if they were to advertise both the amounts. Rich himself admits he wouldn't take the annuity payment, given today's low interest rates.


Vinh Nguyen, who bought a winning Powerball ticket in September in San Mateo, Calif., did take the $228 million annuity prize. Out of the hundreds of winners, there have been only five Powerball or MegaMillions winners in the last seven years to chose the larger, but deferred, jackpot.
There is one argument for choosing annuity payments -- you can't blow all the winnings as fast.
There have been numerous stories of lottery winners who blew through their winnings only to end up paupers just a few years later. There was one widely reported story of Andrew "Jack" Whittaker of West Virginia, who took a $170 million lump sum in 2002.
One of the winning Powerball ticket caused quite a stir Thursday night, when a rumor surfaced that the victorious digits were picked based on the jerseys of legendary Kansas City Royals players.
Several media outlets picked up the story before Cindy Hill, wife of winner Mark Hill, told Yahoo's Jeff Passan that the numbers were chosen at random, though they both are Royals fans.
Cindy Hill, the winner's wife, confirms that the Powerball ticket was not chosen using former Royals players. Passan also tweeted a photo of the winning ticket, which indicates the use of Quick Pick, the lottery's computer-generated system. Though the coincidence has been debunked first-hand, Royals designated hitter Billy Butler has a suggestion for a way in which the Hills can use their payout to help the notoriously thrifty team.


However, five tickets in 10 different states matched five numbers, winning prizes of $1 million each.
In addition to settling child support payments, Pedro Quezada announced he would pay his neighbors' rents with his winnings "for at least a month," a friend said.
Reports late Wednesday night said there were at least 3 winning tickets sold … in Texas, North Carolina and Puerto Rico. In 2006, when rates were a lot higher, Wednesday's $500 million Powerball jackpot would have been worth $765 million, a record.
But he was robbed often, including one time when he had a brief case full of cash stolen from him at a strip club. Today he is 68 years old and still having to work, and says he wishes he had taken the annuity payments.



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