[foxvince]

Iowa Ticket Wins $113.2 Million Powerball Jackpot
15 December 2005

UNITED STATES – (PRESS RELEASE) -- Powerball paid off big in multiple ways Wednesday night. Not only was there one winning jackpot ticket worth a whopping $113.2 million sold in Iowa, but also there was a ticket that won $1 million with Power Play in Idaho! In addition, seven other fortunate players won $200,000 for matching 5 white ball numbers in Iowa (1), Louisiana (1), Minnesota (1), Pennsylvania (3), and Rhode Island (1).

The jackpot winner will now have to decide between the 29-year, 30-payment annuity, and the cash option worth $54,779,833. The winner will have 60 days after their ticket is validated to make that decision.

The jackpot for the Saturday, December 17th drawing will be $15 million with the cash option at $7.3 million.

The numbers drawn Wednesday evening were 8, 15, 16, 45, 51, and the Powerball was 11. The Power Play multiplier was 5.

Twenty-six players matched 4 white numbers plus the Powerball and won $10,000. Seven additional players of that prize level wisely purchased the Power Play and had their prize multiplied by 5 for a $50,000 cash win! A total of 608,358 players across the nation won more than $7.2 million in prizes playing America's favorite game.

More than 83,000 winning Powerball players multiplied their prize by 5 Wednesday. They were able to do that by purchasing the Power Play option for $1. With Power Play you multiply your Powerball winnings from 2-5 times, except for the jackpot. At the beginning of each drawing a wheel is spun to select that night's multiplier.

Players should carefully check their tickets after every draw. Even if there are no jackpot winners there are always tens of thousands of winners at other prize levels.

Players purchased more than $24.3 million in tickets between Sunday and Wednesday night.

The lotteries sold more than $2 billion in Powerball tickets in 2005. That translates into more than $600 million for worthwhile state projects.

[ThomasR]

So the winner of the jackpot can choose between an upfront cash payment or payments yearly for x-number of years?

If that's the case, it would be a good idea here as were forever hearing of millions of pounds being spent on very little and lottery winners ending up broke.

Makes the UK National Lottery seem loose change in comparison though.

[autumn]

I think I'd take mine in one lump sum. Who knows how many years we have. First stop, the bank to invest, buy a home, take a trip, and have some fun for a bit. It seems that you don't have to be a resident of Iowa to purchase a ticket. How do we do that? I bought a few lottery tickets one time through a Candian lottery when I was living in California. They were legitimate and I won a few dollars. It was all by mail, of course.

[friscosardines]

Haven't heard of a news like this.Because I thought if you win a million in a raffle or promo or games they will give the money after a few days.I thought when they say "your a millionaire" they really mean it.I guess they really mean it but you have to wait until you die.LOL

[autumn]

The government here (IRS) gets a good share first, that's why to me it's best to just pay them and get it over with. Of course, you still keep paying, because you're taxed as well on any investment earnings or savings interest..it's called double taxation! But, I think I could probably survive on a million easily. Texas is different from Iowa in that the amount of winnings is the same, no reduction for taking a cash lump sum. In any event, one has to play to win and I seldom do!

[jhasper]

[DeepBlue]

Survive on a million? Nah, that'd soon be gone as far as I go!

Not sure if there are all that many casinos, sure doesn't stop you travelling though

[autumn]

We don't have casinos, but we do have lots of lottery games...and yes, we pay taxes on lottery winnings, but there is no reduction in the jackpot, whether you take a lump sum/cash out or in installments!

[DeepBlue]

Ouch, I'm not sure if we pay taxes on winnings over here, or whether they come out before they announce the jackpot.

I don't think we have the installments option either, I just assumed it all got paid out at once. Enough people had blown it all within a few months to suggest this anyway.

[autumn]

The sad thing too, however, is that in several cases, the winners have met an unfortunate end, either illness, suicide, or unnatural causes. It's scary in a way..but I suppose you should take your money and catch a plane somewhere quickly..lol

[DeepBlue]

Hehe, and spend it whilst you can! I don't condone throwing it all away on junk, but I would be inclined to take a holiday, buy a new house, new car and all the luxuries you can afford with being a millionaire.

Thats why I would like the money asap as well, rather than in installments - who knows, I might not make the last one?

[autumn]

Oh definitely..cash out we call it..one sum. We can't count on tomorrow let alone for 20 years. Besides, we need to enjoy it while we can....like today...lol A car, a trip, one or two homes, 6 months residence in each, and then just a few thousand to throw away on playing casino games!

[DeepBlue]

Indeed! It's a necessity for a lot of young lottery winners to have their spending limited and it's a good idea on the installment payments - although as I said earlier, I would prefer to take the money and enjoy life. Can't predict tomorrow, so enjoy today.