The game of chance takes on an exhilarating new turn as The American Powerball jackpot skyrockets to an estimated $935 million, or around C$1.26 billion, stirring up a wave of lottery-laced excitement amongst Canadians eager to try out their own fortune.
Continuing with its 37th sequential draw on Wednesday night, the Powerball lottery, despite the anticipation and buzz, did not yield a winner just yet. The as-yet unmatched numbers drawn were 37, 46, 57, 60, 66, and the Powerball 8. The enormous jackpot, which started building since January, continues to expand with each draw that doesn’t declare a winner.
If the next draw uncovers a lucky winner, they will be presented with two options on how to receive their windfall. The winner can choose to either welcome the bounty in 30 equal annual installments or take home a considerably reduced, one-time lump sum amount. As per financial records shared by Forbes, this one-time cash lump sum, the much-preferred choice of past winners, will amount to roughly US$341.77 million or C$463.39 million after tax deductions.
As always, Powerball winnings, though a dream-come-true, can potentially incite taxation complications for the winner, with determining factors varying from an individual’s taxable earnings to their state of residence. The countdown has started for the next Powerball draw, scheduled for 10:59 p.m. ET on Saturday.
Dispelling any misinformation, it must be clarified that participation in the Powerball draw isn’t exclusive to American citizens. Canadian residents, ever hopeful of striking it lucky, are also entitled to play. However, procuring a Powerball ticket is far from straightforward. Your safest bet is to cross the American border and secure the ticket firsthand. Alternatively, you could entrust the task to a reliable friend or relative residing in the U.S., but bear in mind the risk of potential jackpot-related disputes should the ticket prove to be a winning one.
Powerball officials disclose that the odds of nabbing the coveted jackpot stand at roughly one in 292.2 million. Available at a modest price of US$2 or C$2.70 per play, Powerball tickets can be acquired in all U.S. states excluding Alabama, Alaska, Hawaii, Nevada, and Utah. Moreover, the lottery is also open to enthusiasts in Puerto Rico and the U.S. Virgin Islands.
