How much of that Powerball jackpot can you really keep? - WRBL

ADVERTISEMENT
Bookmark and Share

How much of that Powerball jackpot can you really keep?

Posted: Updated:
LARGO, FL (WFLA) -

Forget the astronomical odds. You just want to have some fun. And a cool 6-hundred million would certainly buy a lot of fun and all that lottery cash pumps millions into schools. "Florida education is already a winner. The series of draws generated an additional forty-one million dollars for education. That means that's more money in the classroom, more money for k-12, more money for colleges and universities" said Secretary of the Florida Lottery, David Bishop.  

We asked some Lottery players to estimate final take home, on a lump sum Powerball jackpot. One guy guessed $300 million. The answer is $236.6 million. "That's a big cut" said John Van Horn. Another player aimed higher, $400- to $425 million. His reaction when told the truth. "Wow. Yeah, really surprised. That hurts. But hay, I'd take the lump sum" said Mark Nelson.

Here's the breakdown:

The Powerball jackpot has climbed to 600 million dollars.

And here's what you get for the lump sum payout: around 377 million.

But, don't forget the 140 million in federal taxes that you owe.

That makes for a final winnings total of 236-point-six million dollars.

Dr. Roy Kaplan says play if you want a harmless diversion but he says lottery is really a regressive tax. "The people who participate more are the ones who earn lower amounts of money. And then what we're asking them is to bear the burden of the state's irresponsibility" And Dr. Kaplan would like to see more help for people with gambling additions. "My problem is not with allowing people to play lottery. It's whether or not the state should actually encourage this kind of behavior" said Kaplan.

Follow us on twitter @wflatampa

 

  • NewsMore>>

  • President Obama travels to Tampa Tuesday

    President Obama travels to Tampa Tuesday

    Sunday, September 14 2014 10:47 PM EDT2014-09-15 02:47:00 GMT
    President Barack Obama will travel to Tampa this week for a two-day visit. He will arrive Tuesday on Air Force One and stay overnight to visit the U.S. Central Command at MacDill Air Force Base on Wednesday. President Obama will receive a briefing from his top commanders at CENTCOM. ...
    President Barack Obama will travel to Tampa this week for a two-day visit. He will arrive Tuesday on Air Force One and stay overnight to visit the U.S. Central Command at MacDill Air Force Base on Wednesday. President Obama will receive a briefing from his top commanders at CENTCOM. ...
  • Hillsborough deputies identify body found

    Hillsborough deputies identify body found

    Sunday, September 14 2014 9:12 PM EDT2014-09-15 01:12:14 GMT
    Octavio Reyes' family membersOctavio Reyes' family members
    When Hillsborough County sheriff's deputies told Rosario Reyes her husband was dead, her first thought was "How will I explain this to my youngest children.""What am I going to tell them, when their dad is not coming around," Rosario Reyes said. "What am I going to tell them?" "Your dad is not coming around, because somebody did something to him."Octavio Reyes, 36, of Gibsonton, leaves behind six children, the youngest is 4 years old. ...
    When Hillsborough County sheriff's deputies told Rosario Reyes her husband was dead, her first thought was "How will I explain this to my youngest children.""What am I going to tell them, when their dad is not coming around," Rosario Reyes said. "What am I going to tell them?" "Your dad is not coming around, because somebody did something to him."Octavio Reyes, 36, of Gibsonton, leaves behind six children, the youngest is 4 years old. ...
  • Police searching for missing Tarpon Springs woman

    Police searching for missing Tarpon Springs woman

    Sunday, September 14 2014 7:35 PM EDT2014-09-14 23:35:57 GMT
    The Tarpon Springs Police Department has issued a Silver Alert for Ella Jones Cone. Cone, 82, was last seen Sunday morning driving a blue 2006 Saturn Ion with Florida tag number C025PZ She was seen in the area of Church on the Bayou, 409 Whitcomb Blvd., at about 10 a.m. when she dropped the registered owner, Kenneth Staack, off at church. ...
    The Tarpon Springs Police Department has issued a Silver Alert for Ella Jones Cone. Cone, 82, was last seen Sunday morning driving a blue 2006 Saturn Ion with Florida tag number C025PZ She was seen in the area of Church on the Bayou, 409 Whitcomb Blvd., at about 10 a.m. when she dropped the registered owner, Kenneth Staack, off at church. ...
Powered by WorldNow

1350 13th Avenue
Columbus, GA 31901

Telephone: 706.323.3333
Fax: 706.327.6655
Email: news@wrbl.com

Can't find something?
Powered by WorldNow
All content © Copyright 2000 - 2014 Media General Communications Holdings, LLC. A Media General Company.