US Powerball History
Not many American lotteries operate nationwide and the Powerball is one of the few who include 44 lotteries and are constantly expanding. California will be the next state to join in April 2013 and this new addition is expected to increase the size of jackpots even further. A significant boost was recorded one year ago when the price of the ticket was doubled, and in only a few months the lottery celebrated the largest jackpot ever awarded by the Powerball.
The top prize starts from $40 million and every time players fail to win the jackpot, all of these millions are rolled over and increase the next prize. Winners can choose between receiving the lump amount at the expense of losing a significant portion you to taxation, or settle for the annuity. This consists of 30 payments made on a yearly basis, and although players get to keep more of their prizes, both states and the federal government will get their share through taxes.
At the beginning of the Powerball the draws were held in Iowa and from 2009 onwards, these took place in Orlando at Universal Studios. Nowadays it all happens in Tallahassee under the ever watchful eye of the accounting firm Harvey, Covington & Thomas. The winning numbers are only valid after the audit takes place as the authorities are overseeing the entire process and take security very seriously.
The largest jackpot in the history of Powerball was the $587,500,000 jackpot won in November 2012 and the total amount was split between two players from Arizona and Missouri. This is only second to the Mega Millions jackpot won earlier that year by three players who split $656,000,000. The impact of rising jackpots and the fact that more players choose to purchase Powerball tickets every week, is expected to convince new states to adhere.
