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Powerball reaches $1.4 billion: Delco residents grab their tickets
PREVIOUS: Delaware County residents went to their local convenient stores and markets as the Powerball drawing has reached $1.4 billion.
Powerball players are buzzing about the massive $1.7 billion jackpot for Saturday night’s drawing.
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What are the odds you win the lottery?
What are the odds you win the lottery? You're more likely to be struck by lightning.
Saturday's Powerball prize is the third-largest U.S. lottery jackpot ever. There have been a record 42 straight drawings without anyone matching all six numbers. No one has won the grand prize since May 31.
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By the numbers:
The $1.7 billion jackpot is for a winner who opts to receive 30 payments over 29 years through an annuity. Winners almost always choose the game's cash option, which for this drawing would be an estimated $770.3 million.
Powerball tickets cost $2, and the game is offered in 45 states plus Washington, D.C., Puerto Rico and the U.S. Virgin Islands. The overall odds of winning a prize are 1 in 24.9. The odds of winning the jackpot are 1 in 292.2 million.
Powerball jackpot payouts by state
Local perspective:
If you hit it big and win the jackpot, the amount of money you get will depend on where you live. According to the USA Mega website, lottery winnings aren’t subject to state taxes in eight states: California, Florida, New Hampshire, South Dakota, Tennessee, Texas, Washington and Wyoming.
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Meanwhile, other states like New Jersey and Pennsylvania tax lottery winnings at 10.75% and 3.07%, respectively.
Powerball is not played in Alabama, Alaska, Hawaii, Nevada and Utah.
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Here’s a breakdown of what you would get paid in each state if you won the $1.4 billion Powerball jackpot:
Pennsylvania
- After 30 payments: $1,020,099,390
- Cash payout: $461,683,770
New Jersey
- After 30 payments: $889,539,390
- Cash payout: $402,524,730
The Source: This report includes information from Powerball, USA Mega and previous LiveNow from FOX reporting. FOX's Chris Williams contributed.