TAMPA, Fla. (WFLA) — In the days leading up to the most recent Powerball drawing, Floridians spent millions. During October’s final two days, lottery players ramped up their ticket buying, then slowed down after the winning numbers eluded them.
From Oct. 23 to Nov. 1, just 10 days, Floridians spent $34.4 million on tickets, hoping to eke out a win. None of them succeeded, and the jackpot rose to over $1 billion.
Of the more than $34.4 million spent on tickets, the biggest portion was just the day before, and, Halloween. Collectively, Florida lottery purchases totaled $4.6 million on Oct. 30 and nearly $21 million on Halloween itself.
The jackpot remained unclaimed, and ticket purchases on Nov. 1 dropped to $8.6 million. Here’s how the Florida Lottery said Powerball sales went day-by-day.
- 10/23/22 – $13,468.00
- 10/24/22 – $21,670.00
- 10/25/22 – $17,961.00
- 10/26/22 – $27,850.00
- 10/27/22 – $47,226.00
- 10/28/22 – $62,624.00
- 10/29/22 – $114,195.00
- 10/30/22 – $4,578,528.00
- 10/31/22 – $20,967,879.00
- 11/01/22 – $8,602,247.00
The most recent Powerball numbers were: 13, 19, 36, 39, 59, and a Powerball of 13.
Currently, the cash value of Powerball, if won, is $596.7 million, from the $1.2 billion jackpot estimate for the Wednesday drawing. The jackpot is set for a 3X multiplier right now. Should the winning ticket get pulled, Floridians would have the choice of lump sum or annuity to collect their winnings.
Lottery tracking site USAMega put together an estimate on the annuities based on the current jackpot, showing that by the end of 30 years, winners who pick the annual route will end up with $757.11 million after taxes, for Floridians. The site notes that their winnings estimate “shows the final federal and state tax burdens each year, not the amount initially withheld by the lottery.”
The federal tax rate on incomes over $500,000 is 37%. In Florida, there is no income tax, including on lottery winnings.
Here’s the annuity breakdown put together by USAMega.
| Year | Gross Payment | Federal Taxes | State Taxes | Net Payment |
|---|---|---|---|---|
| 1 | $18,061,722 | $6,645,792 | $0 | $11,415,930 |
| 2 | $18,964,808 | $6,979,934 | $0 | $11,984,874 |
| 3 | $19,913,048 | $7,330,783 | $0 | $12,582,265 |
| 4 | $20,908,702 | $7,699,175 | $0 | $13,209,527 |
| 5 | $21,954,136 | $8,085,985 | $0 | $13,868,150 |
| 6 | $23,051,843 | $8,492,137 | $0 | $14,559,706 |
| 7 | $24,204,436 | $8,918,596 | $0 | $15,285,839 |
| 8 | $25,414,657 | $9,366,378 | $0 | $16,048,279 |
| 9 | $26,685,390 | $9,836,549 | $0 | $16,848,841 |
| 10 | $28,019,659 | $10,330,229 | $0 | $17,689,430 |
| 11 | $29,420,642 | $10,848,593 | $0 | $18,572,050 |
| 12 | $30,891,674 | $11,392,875 | $0 | $19,498,800 |
| 13 | $32,436,258 | $11,964,370 | $0 | $20,471,888 |
| 14 | $34,058,071 | $12,564,441 | $0 | $21,493,630 |
| 15 | $35,760,974 | $13,194,516 | $0 | $22,566,459 |
| 16 | $37,549,024 | $13,856,094 | $0 | $23,692,930 |
| 17 | $39,426,474 | $14,550,750 | $0 | $24,875,724 |
| 18 | $41,397,798 | $15,280,140 | $0 | $26,117,658 |
| 19 | $43,467,688 | $16,045,999 | $0 | $27,421,688 |
| 20 | $45,641,072 | $16,850,152 | $0 | $28,790,921 |
| 21 | $47,923,126 | $17,694,511 | $0 | $30,228,614 |
| 22 | $50,319,282 | $18,581,089 | $0 | $31,738,193 |
| 23 | $52,835,246 | $19,511,996 | $0 | $33,323,250 |
| 24 | $55,477,008 | $20,489,448 | $0 | $34,987,560 |
| 25 | $58,250,858 | $21,515,773 | $0 | $36,735,086 |
| 26 | $61,163,402 | $22,593,414 | $0 | $38,569,989 |
| 27 | $64,221,572 | $23,724,937 | $0 | $40,496,636 |
| 28 | $67,432,650 | $24,913,036 | $0 | $42,519,615 |
| 29 | $70,804,283 | $26,160,540 | $0 | $44,643,743 |
| 30 | $74,344,498 | $27,470,419 | $0 | $46,874,078 |
| Total | $1,200,000,002 | $442,888,651 | $0 | $757,111,352 |
