The Powerball drawing in Tennessee offers jackpots starting at $40 million, with the potential to grow to even larger amounts if the jackpot is not won in one drawing. The minimum Powerball payout is $40 million, but the jackpot can grow exponentially with each set of drawings if the winning combination is not chosen.
The record Powerball jackpot in Tennessee was a historic $400 million jackpot won on November 26, 2016 by John and Lisa Robinson of Munford, Tennessee. If a single ticket matches all six Powerball numbers and has the Power Play option then the ticket holder is entitled to the cash option value of the jackpot.
The cash option value of the $400 million jackpot was an estimated $254.7 million, which the Robinsons chose to receive in a single payment.
How much is just the Powerball worth?
The Powerball jackpot amount starts at $40 million and grows each time there is no grand prize winner. The amount is determined by sales from all participating states and can vary from drawing to drawing.
Once the Powerball drawing takes place and there are winners, the jackpot amount is split evenly among the winners. The largest jackpot in Powerball history was $1.586 billion in 2016, though the jackpot is typically much lower than that.
The minimum jackpot amount is $40 million, though this amount can grow significantly if there are no winners in a given drawing.
Did anybody win the Tennessee Powerball?
Yes, the December 22nd, 2020 drawing of the Tennessee Powerball resulted in a winner. The jackpot for that drawing was worth an estimated $277 million, and one lucky ticket holder from Tennessee matched all five numbers plus the Powerball number to claim the entire amount.
The winning ticket was sold at the Express Food Mart in Smyrna, Tennessee. Unfortunately, the winner has yet to step forward and claim their winnings. The winning numbers for the drawing were 2-11-47-62-63 and Powerball 18.
How many Powerball winners in Tennessee?
As of July 2020, there have been 36 Powerball Jackpot winners in Tennessee since the game began in 1992. In addition to those 36, there have been 179 prizes of $1 million or more won by Tennessee players in the Powerball game.
In 2020 alone, there have already been three jackpot winners in the State of Tennessee, a prize of $50 million won in March, a prize of $100 million won in May, and a prize of $50 million won in June.
In addition to this, there were six prizes of $1 million or more won in 2020 and a total of more than 500,000 winners of various prizes ranging from $4 to $4 million. Tennessee has seen some of the largest Powerball jackpots in the game’s history and it is clear that the state is a lucky one when it comes to this game.
What happens if you get all 5 numbers but not the Powerball?
If you get all 5 numbers but not the Powerball, then you will still receive a prize! Depending on the lottery rules of the particular game, this prize payout can vary. Generally, when these criteria are met, the player will receive a smaller prize amount than if they had the matching Powerball number.
That said, the prize is still quite substantial and can range from hundreds to tens of thousands of dollars. Additionally, the number of winners in this category is usually lower than that of the top prize, meaning your odds of becoming a winner are increased.
Where was the winning Powerball ticket sold in Tennessee?
The winning Powerball ticket for the draw held on June 6, 2020 was sold in Tennessee at the Naifeh’s Food Mart in Ripley. The market, located on Main Street in Ripley, sold the winning ticket that had the numbers in the Powerball draw, 11-13-25-39-54 with PB number 19.
This ticket won the $420.9 million jackpot. This is the largest single-winning Powerball in Tennessee history, and the fourth-largest in US history. Naifeh’s Food Mart is owned and operated by husband and wife duo, Martin and Kelli Naifeh.
After matching all five numbers plus the Powerball, the lucky winner will take home the full prize amount without being required to divide it with any other winners.
What are the Powerball prize amounts?
The Powerball prize amounts can vary significantly depending on the amount of tickets that are purchased and the number of winners. If a single ticket wins the grand prize, the winner will be awarded the full advertised jackpot amount.
If there are multiple winners of the grand prize, they will split the prize according to their share.
In addition to the grand prize, Powerball also offers prizes for matching just the Powerball number or any of the five regular numbers for smaller prizes. The lower tier prize levels are fixed and will not vary depending on sales or the number of winners.
The Powerball prize structure for the minimum advertised jackpot of $20 million is as follows:
Match 5 + Powerball: Grand Prize (Jackpot)
Match 5: $1 million
Match 4 + Powerball: $50,000
Match 4: $100
Match 3 + Powerball:$100
Match 3: $7
Match 2 + Powerball: $7
Match 1 + Powerball: $4
Match Powerball Only: $4
What are the prizes for Powerball?
The prizes for Powerball range depending upon how many numbers the player matches and whether or not they hit the Powerball. The minimum prize for just matching the Powerball is $4. Players who match at least three white balls and the Powerball can win anywhere from $50 up to the jackpot.
The jackpot starts at $40 million and increases each drawing until it is hit.
If the player matches all five white balls and the Powerball they will take home the jackpot. To win the jackpot, the player must spend an extra dollar per ticket to activate the Power Play option on their ticket.
If no one wins the jackpot, it will roll over and continue to increase in value until it is hit.
The Powerball also has eight lower prize tiers that range from $4 to $1 million. Players who match four white balls and the Powerball can win around $50-$100,000, and those who match four white balls can win around $100 to $500.
Matching three white balls and the Powerball will generally result in a prize of around $100, and matching two white balls and the Powerball will earn around $7-$10. Lastly, matching just one white ball and the Powerball can earn players around $4.
The Powerball also has a multiplier option called the Power Play, which can be added for an extra dollar per ticket. The Power Play will multiply any winnings in divisions 2-5 by 2-5 times depending upon which number is drawn.
The jackpot will not be affected by the Power Play, however.
Overall, Powerball gives players the chance to win huge cash prizes, ranging anywhere between $4 and the jackpot.
How many numbers do you need to win the Powerball?
In order to win the Powerball, you need to match all 6 of the winning numbers. These numbers consist of 5 white balls (numbers 1-69) and 1 red Powerball (numbers 1-26). In order to take home the jackpot, you must match all 6 numbers.
If no one wins the jackpot, the amount will roll over to the next drawing and keep increasing until a winner is found. In addition, there are 8 lower-tier prizes which can be won by matching fewer numbers.
The odds of winning the Powerball jackpot are estimated at 1 in 292,201,338. So, you need to match 6 numbers in order to win the Powerball!.
Do you win anything with 2 numbers on Powerball?
With Powerball, you can win a prize with just two numbers. Matching two of the five numbers drawn will award you the Powerball prize, which is the game’s lowest prize tier. The amount of your prize depends on the Power Play multiplier that is in effect for the drawing.
Without the Power Play, that prize is usually only a few dollars, but with the Power Play it could be as much as $10,000. It is important to note that if you only match the two numbers and not the Powerball your prize is smaller than it would be if you also matched the Powerball number.
Do you win anything if you have one number?
No, you do not win anything if you have one number. Winning the lottery requires a certain combination of numbers to be selected correctly. Having just one number will not result in a winning ticket, as all of the numbers must be selected correctly to win a prize.
Although some lottery games may allow you to win other prizes if you match even just one number correctly, it typically will not be the jackpot. To have the best chance of winning a lottery, it is important to select the correct combinations of numbers.
What if I got the Powerball number only?
If you got the Powerball number only, you would not win the jackpot or any other prizes associated with Powerball. The Powerball number is only one of five numbers that you need to win the jackpot, plus the Powerball number.
In order to win the Powerball jackpot, all six balls that are chosen must match. The five main numbers must match exactly in order for the prize to be awarded. In addition, you must match the Powerball number in order to win the full amount of the jackpot.
If you only got the Powerball number, you would not win any money from the Powerball draw.
What does 2 draws mean in Powerball?
In Powerball, a “2 draws” means that you are playing the same numbers for two consecutive draws, or two different draws within a certain period. It is a way for players to increase their chances of winning by keeping the same numbers for both draws.
Specifically, when a player chooses a “2 draws” option, they are entering the same sets of numbers in the game twice. Each game costs the same amount to enter, regardless of the number of draws chosen.
So, this is an affordable option for someone wanting to increase the odds of winning.
How long does it take to get your money if you win Powerball?
If you win the Powerball jackpot, you have two options for claiming the prize – either by a lump sum or annuity option. Your prize amount will depend on your selection, but both will be subject to Federal and State taxes.
If you select the lump sum option, the lump sum payout is typically paid out within two weeks of the announcement of the Powerball drawing. You will receive a check or may have the option of having the funds direct deposited into your bank account.
If you select the annuity option, you will receive 30 annual payments over 29 years. The first payment will be made within two weeks of the draw date. Each year after that, you will receive 22 to 25 annual payments.
Depending on your state, you may receive these payments in the form of a check, direct deposit, and/or an ACH transfer.
The annuity option involves earning interest on the balance, whereas the lump sum option does not. This could make a difference of millions of dollars to the total amount won. For a better idea of the total amount you get depending on your choice, you should contact your local state lottery organisation.
Is it better to take a lump sum or annuity lottery?
When deciding between a lump sum or annuity lottery payment it is important to consider how you are going to use the money, your current tax and financial situation, and how much money you will have in the end.
Opting for a lump sum payment means that you will receive an immediate, one-time payment. This can be a great option if you need money right away and want to invest it, pay off debt or make large purchases.
However, if you don’t have a plan for the money and end up spending it quickly, it could be a bad decision for your financial future. You’ll also need to consider any tax liabilities that may come with a lump sum payment – taxes will be due in the year you receive the payment and you may face an even higher tax bill if you are not careful.
Taking an annuity lottery payment can be a good idea if you don’t need the funds right away and prefer to have a steady stream of payments over time. This can also be helpful for budgeting and it may be easier to plan for taxes since you’ll know exactly how much you will be receiving each year.
However, you won’t be able to access the full amount of the prize at once if you go this route, and you will also likely be subject to market risk if the money is invested during the pay out process.
Ultimately, deciding between a lump sum or annuity lottery payment depends on a variety of factors and it is important to weigh the pros and cons carefully. It is always wise to seek professional advice when dealing with large sums of money.