The jackpot for Wednesday’s Powerball drawing has been increased to $320 million and ranks as the third highest Powerball jackpot of all time, Oregon Lottery officials said Tuesday.
The top Powerball jackpot of $365 million was won in Nebraska in February 2006, followed by a $340 million jackpot won in Oregon in 2005.
The current $320 million Powerball jackpot offers the winner the choice of taking the prize in one lump sum or receiving an annuitized prize yearly for the next 30 years.
After taxes, the lump sum prize would give the winner a net payment of over $142.9 million. The yearly prize option, after taxes, would be over $7.1 million.
Since 1992, Oregon has had four Powerball jackpot winners, including the second-largest Powerball jackpot ever - $340 million, won by a Medford family in October 2005.
Other Oregon Powerball jackpot winners include the Givens family of Eugene, winners of a $38.4 million prize in October 1992 and Robin Powell of Beaverton, a $33.8 million winner in July 1999. And in March 2007, Dan Gannon of Milwaukie won $182.7 million jackpot.
Powerball drawings are every Wednesday and Saturday, at 7:59 PM. Players can buy Powerball tickets at any Oregon Lottery retail location until 7:00 PM on the night of the drawing, as well.
Results and additional details for Powerball and all Oregon Lottery games can be found on the Lottery’s Web site at www.oregonlottery.org.
Since the Oregon Lottery began selling tickets on April 25, 1985, it has earned over $7 billion for economic development, public education, state parks and watershed enhancements.