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Powerball Jackpot Hits in Oregon, $1.326B Prize Fourth-Largest in Game History 5a3031

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The Powerball jackpot finally hit. After 40 drawings without a single ticket matching the six drawn numbers, a lucky $2 play sold in Oregon early this morning won the life-changing sum.

Powerball jackpot lottery odds
A Powerball player in Oregon won the weekend jackpot drawing worth $1.326 billion. The historic win ranks fourth all-time in Powerball history. (Image: Fox29)

The scheduled 10:59 pm EST drawing was delayed several hours after a participating lottery needed additional time to complete its pre-draw procedures, which are designed to protect the security and integrity of the Powerball game. The April 6 drawing was eventually drawn at 2:29 am EST on April 7. [Read more…] about Powerball Jackpot Hits in Oregon, $1.326B Prize Fourth-Largest in Game History

Man Who Claimed £2.5M Jackpot with Fake Ticket Freed 6z3h6f

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A 58-year-old man who was convicted of raping a 17-year-old girl more than three decades ago and was recently serving a sentence for fraud after claiming a multi-million lottery jackpot was recently released. The case involves a person with the initials E.P., who used to be a builder before co-conspiring to claim £2.5 million ($3.2 million) jackpot from the UK National Lottery. Back in 2019, the person was sentenced to nine years in prison, after it was uncovered that he was involved in the fraudulent activity that enabled him to claim the jackpot.

Now, a new report reveals that after serving only half of his nine-year sentence, the lotto fraudster was recently released from prison. The 58-year-old served four and half years of his sentence and was released last week, the Mirror reports.

Besides nine years in prison, the man was also ordered to pay back nearly £940,000 ($1.2 million). Contesting to that order, he only paid back close to £100,000 ($125,100). However, the fraudster’s house was ultimately seized by prosecutors and was subsequently sold.

The Fraud Was Uncovered after the Death of Co-conspirator 4k2g5u

The early release of the convicted rapist and lottery fraudster did not resonate well with friends of his former accomplice. To complete the lottery fraud, the 58-year-old co-conspired with a person with the initials G.K., who took his own life back in 2015. One of the friends of the fraudster’s accomplice was enraged. They asked how it was possible for E.T. to be released early while his accomplice had been dead for years. Moreover, they said the fraudster “has been freed and has the rest of his life ahead of him.”

One of the reasons why G.K. has taken his life is likely a dispute between him and E.T. about the money share for each of them. “They’ve never got to the bottom of what he did with the money. It’s horrific,” said the friend of the deceased man.

The unelaborate fraud dates back to 2009, when the two men conspired to collect the jackpot from the UK Lottery which was then operated by Camelot. The 58-year-old man came forward near the end of August of the same year to collect an unclaimed £2.5 million ($3.2 million) jackpot from March. The man told a story that he found the lottery ticket under the seat in his van. However, the fake winning ticket was torn in half and was missing the bottom which usually contains unique numbers.

This bold move ultimately granted the fraudster the jackpot. But he did not get along with his co-conspirator who took his own life in 2015. Before doing so, the second person involved in the fraud itted to friends that he conspired with E.T. to defraud the lottery and collect the jackpot. After his death, it wasn’t long before the fraud was uncovered which led to the sentencing of the 58-year-old.

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Powerball Jackpot Reaches $1B a Week After Mega Millions Hits for $1.13B 55323q

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The Powerball jackpot for Monday night’s drawing is an estimated $1 billion, the game’s fifth-richest prize of all time. The one-time cash option is roughly $483.8 million. Both prizes are before federal and, possibly, state taxes.

Powerball jackpot lottery Mega Millions odds
The Powerball jackpot has climbed to an estimated $1 billion for the game’s drawing on April 1, 2024. It’s just the fifth time in the game’s history that the jackpot has gone upwards of 10 digits. (Image: Fox Philadelphia)

Less than a week after a lucky player in New Jersey hit a $1.13 billion Mega Millions jackpot — the eighth-largest lottery prize in the history of the United States and the fifth-richest Mega Millions win — Powerball stands to make someone else wildly wealthy.

Being that it’s April 1st, aka “April Fools’ Day,” officials with the Multi-State Lottery Association, which operates the thrice weekly game on behalf of its 48 participating member jurisdictions, reassured players on Monday morning that the $1 billion d Powerball prize isn’t a hoax.  

This is no April Fools’ Day joke. We have an d Powerball jackpot that’s hit $1 billion to kick off the month of April,” said Drew Svitko, Powerball chair and executive director of the Pennsylvania Lottery.

“This is an exciting time to play Powerball. Whether you’re a frequent or new player, please to keep the game fun by playing responsibly. It only takes one ticket to win,” Svitko reminded players.

Monday night’s drawing goes down at 10:59 pm EST from the Florida Lottery studio in Tallahassee.  

Jackpot Run  5wqw

The Powerball jackpot hasn’t been won since New Year’s Day when a single ticket sold in Michigan claimed an annuitized jackpot worth $842.4 million. Since then, there have been 38 consecutive drawings without a single ticket matching the five white balls and red Powerball.

The odds of a ticket matching the six drawn numbers remain constant at one in more than 292.2 million. However, the likelihood of a Powerball jackpot hitting improves slightly as the treasure chest grows, as more players participate and, presumably, more of the 292,201,338 possible number combinations are covered.

During the Saturday drawing, four tickets narrowly missed the top prize by matching the five white numbers of 12, 13, 33, 50, and 52. Each ticket won the game’s second-tier prize of $1 million.

None of the players opted for the $1 add-on Power Play that would have doubled the prize to $2 million. The Power Play landed on 3x but the $1 million second-tier prize can only be doubled. The $1 million wins hit in Illinois, Louisiana, Michigan, and Pennsylvania.

Saturday’s drawing also included 55 tickets that won $50K and 11 tickets that won $150K. Those tickets matched four white balls and the red Powerball. The 11 that won $150K had the Power Play option that tripled the prize.

What’s a Billion Worth? f352o

Mega Millions and Powerball base their d jackpots on a 30-year annuity. A winner, should they opt for the full value, receives an immediate payment and then 29 annual distributions that increase by about 5% a year.

The annuities are secured through investments in a portfolio of bonds. A bond is a debt security that generates cash flow through maturity and interest.

Because the federal interest remains elevated compared with only a few years ago, the d Mega Millions and Powerball jackpots based on the 30-year annuity payout are considerably higher than they would have been in 2021.    

Before the feds increased interest rates in 2022 in an effort to offset rising inflation, most Mega Millions and Powerball jackpot winners chose the cash option, as many believed sound investing would outpace the 5% fixed annuity. Today, the choice is a bit more complex.

For a clearer picture, a 2021 Mega Millions $1 billion jackpot came with a cash option of $776 million — $292.2 million more than tonight’s cash jackpot option. For someone older who doesn’t want to along the fortune or doesn’t have heirs, the one-time cash option still might make sense.

The post Powerball Jackpot Reaches $1B a Week After Mega Millions Hits for $1.13B appeared first on Casino.org.

Rephrased by The Mystic Gambler

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