Believe it or not, no one has hit this massive Powerball jackpot yet. Now, Wednesday’s jackpot will be an impressive $750 million. That makes it both the third-largest Powerball jackpot in history and the fourth largest the US lottery system has ever seen.
Tonight’s drawing will take place at 11 p.m. EST.
Winning Powerball numbers for March 27
Check back in at 11 p.m. to see the winning numbers as soon as they are posted.
Winning numbers: 16-20-37-44-62
If you and your coworkers went in on a pile of tickets, don’t stress yourself out by checking each one by hand. Download the PA online lottery mobile app. Then you can use your phone to scan each ticket and check for winners.
Lump-sum option worth $465 million
It may be in fine print, but it is always important to take note of what the lump-sum prize is worth for big lottery jackpots. For example, today’s lump sum is $465 million. In fact, most of the time, you should seriously consider taking the lump sum. More often than not, with the help of a financial advisor, you can find a better annual return on your money than the lottery does under the annuity option.
Yes, from a purely financial point of view, the lump sum is the decision that makes more sense.
There are other things to consider when choosing between the lump sum and the annuity though. A big part of the decision depends upon how well you know yourself.
For many lottery winners, the annuity ensures you do not blow your newfound riches all at once. Getting only set amount annually over a 30-year period might instill a schedule and sense of responsibility you might not be able to generate if given the money all at once.
There are also income tax reasons you may not want the lump sum. If your jackpot is on the smaller side, you might be surrendering so much of your prize to income tax payments that it no longer makes financial sense.
Responsible gambling reminder
Thinking responsibly about the lottery doesn’t just apply to how you will spend your lottery jackpots. Being that this is National Problem Gambling Awareness Month, it is as good a time as any to remind people that these big paydays are fun to chase, but only if you do so in a healthy way.
The National Council on Problem Gambling is using the hype around the Powerball jackpot to offer five simple tips about keeping gambling fun and healthy:
- Set a limit of time and money spent.
- Don’t gamble to escape negative feelings.
- Know where to get help.
- Don’t gamble with money you can’t afford to lose.
- Minors should not be gambling.
Keith Whyte, the executive director of NCPG, elaborates on the organization’s mission when it comes to lottery games and other forms of gambling:
“The media and consumer interest in high lottery jackpots creates an opportunity to provide responsible gambling messages designed to help people who choose to gamble to make informed decisions about their play. Responsible gambling efforts should be made by lottery operators and players alike.”