The Powerball jackpot has quickly grown to the nine-figure range.
For Wednesday, July 7, the estimated jackpot is $113 million with a one-time cash value of $80 million.
Overall, the last Powerball drawing on Saturday, July 3 did not yield any second-place winners. In fact, nationwide, only 16 tickets won the third-place prize, matching four white balls and the Powerball.
Winning Powerball numbers for Wednesday, July 7
Winning numbers: 8 – 21 – 30 – 49 – 57
Annuity or cash value
Many of us dream about winning the Powerball jackpot and planning how to spend newfound riches. However, a common question asked is, “What is the difference between the annuity and cash value option?”
If you choose the annuity value, which is the $113 million amount for this drawing, you are opting for 30 graduated payments paid over a period of 29 years. Annual payments increase by 5%.
On the other hand, the cash value option is the money that is in the jackpot prize pool on the day of the drawing. This amount then funds the estimated jackpot annuity prize. Federal and state taxes apply to both options as well.
Remember that the amounts listed here at PlayPennsylvania and even on Powerball are estimations only. Ticket sales need to be final. Finally, if you choose the annuity, the Multi-State Lottery Association has to take bids on the purchase of securities.
Buy Powerball tickets online
The state-run PA online lottery offers you a chance to buy your Powerball tickets online for this evening’s drawing. Additionally, there are various other fun lottery games available besides the traditional draw lottery games of Powerball and Mega Millions.
Even if you do not live in PA, there are other states that sell online lottery tickets:
- New York
- New Hampshire
- North Carolina
- North Dakota
Each jurisdiction’s lottery benefits different programs chosen by the state. For example, here in the Keystone State, the PA Lottery benefits older Pennsylvanians. Please play responsibly.