BOISE, Idaho – With the Powerball jackpot soaring to world records, now an estimated annuity prize of $1.5 billion with a cash equivalent of $930 million, the dividends brought into Idaho are also mounting. The Idaho Lottery estimates $3 million in dividends were created from last week’s Powerball sales. Since this jackpot run began in November 2015, Powerball alone has generated nearly $5 million in dividends. The Idaho Lottery was created in 1989 to benefit Idaho’s Public Schools and the State’s Permanent Building Fund.
“The Idaho Lottery’s mission is to responsibly grow our dividends every year for the benefit of all Idahoans. In the 26-year history of the Lottery, more than $694.5 million has been generated to support our good causes,” said Jeff Anderson, Idaho Lottery Director. “With a jackpot of this size, the benefits coming back to the State are significant. Every play pays dividends somewhere in the Idaho, whether it is in the form of prizes to players, benefits to our schools, or commissions for our retailers.”
Idaho Lottery players must purchase Powerball tickets, and all Lottery products, from a brick and mortar retail location in the State. Internet sales of Lottery games is not allowed in Idaho. Idaho has a statewide network of 1,200 retail locations across the Gem State in 168 cities and towns. Each retailer earns a commission for the sale of every Powerball ticket they sell. For last week’s sales, retailers earned over $372,000 in commissions.
“Providing economic opportunity for Idaho’s businesses that ultimately benefit individual communities is another way the Idaho Lottery is helping our State to prosper,” added Anderson.
In the event Idaho has a jackpot winning ticket Wednesday night, the retail location that sells the winning ticket would receive a $50,000 bonus from the Idaho Lottery.
A jackpot winner would also benefit the State from withholding taxes on the prize. If the winner, or winners, elect to receive the one-time cash equivalent, the State of Idaho would receive a nearly $70 million windfall.
Players are encouraged to purchase tickets early this week instead of waiting until the last few minutes before the draw. Lines are common at retail locations across the Gem State, with some lines lasting as much as an hour in the towns along Idaho’s border with Utah. The last time players can purchase tickets is 7:55 pm Mountain Time on Wednesday evening.
“Please be patient, have fun with this historic jackpot run, and remember it only takes one ticket to win,” said Anderson. “Good luck, Idaho!”