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How Much Would the Powerball Win Be Worth in North Carolina?

Author Randi Moultrie
SAN LORENZO, CA - JANUARY 13: Lottery balls are seen in a box at Kavanagh Liquors on January 13, 2016 in San Lorenzo, California. Dozens of people lined up outside of Kavanagh Liquors, a store that has had several multi-million dollar winners, to -purchase Powerball tickets in hopes of winning the estimated record-breaking $1.5 billion dollar jackpot.

As we all know, the Powerball number has reached a crazy amount of money as people are hoping and praying for a winning ticket. The Powerball is at a new high and people are wondering how much would they really have if they hit the big winnings. In North Carolina, things can be a bit different for sure, so sit back and learn a little.

Queen City News reports what your Powerball earnings could be worth if you win in North Carolina. Whenever you win the lottery jackpot, you have your choice between a lump-sum payment or an annuity paid out nearly three decades. I know, that sounds a bit confusing for some. Most tend to want the lump-sum payment, which with $1.9 billion I can understand why they would want that lump-sum. For winners who choose the lump-sum, you could walk away with $929.1 million before taxes, says QC News. The annuity would pay out the full $1.9 billion over 29 years.

When it comes to an annuity, the breakdown can be something to understand. This will allow you to collect your winnings in 30 payments over the 29 years, but not even 30 chunks. Each payment would be 5% larger than the last until you get to your grand total. I am not sure which version I would want, but this has certainly helped me think about it. What would you do if you won the Powerball jackpot?

SOURCE

https://www.instagram.com/p/CklPL8MO7h4/?utm_source=ig_web_copy_link

Randi Moultrie is a Charleston, South Carolina native and has been in the radio industry for the last few years in Charlotte. Randi started with Beasley Media Group as an intern in 2019 and is now thriving in the digital world. Randi enjoys writing about her favorite foods (especially pizza) and all things fashion and travel. As one who loves taking trips to find new foods, it’s not surprising that she enjoys writing about both!

How Americans Play Lottery and What They’d Do If They Won

Tonight is the big night people.  It is the Mega Millions drawing and Americans are ready to win the money! What if you won the lottery? My first thing would be paying off my bills, putting some away, and then most likely I would take a vacation.

The US has had a handful of record-setting lottery jackpots this year, and Americans are looking to get in on the action. A new report shows nearly a quarter of Americans play the lottery at least once a month, and almost half (44%) say they play more when there’s a big jackpot on the line.

Those who do strike it rich often try to keep the winnings quiet. 83% of Americans say they wouldn’t want to tell others if they won. Significant others are in luck though – people say they’d give their SO a little more than 25%, but also said they’d expect more than 25% if the roles were reversed. You can take a look at the full report here.

  • Nearly 50% say they would need to win at least $4 million in order to quit their job

  • Top purchases after winning: home, vacation, car

  • 70% would take winnings as a lump sum

    Lottery Stats

  • 2 out of 5 would invest in crypto currency

  • Lottery Ticket Trust

  • Lottery Jackpots & Your Job

    Lottery Jackpots & Your Job

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