Record Powerball Jackpot Increases To $550 Million - - Tulsa, OK - News, Weather, Video and Sports - |

Record Powerball Jackpot Increases To $550 Million

Posted: Updated:
Powerball sign just off the Broken Arrow Expressway. Powerball sign just off the Broken Arrow Expressway.
TULSA, Oklahoma -

The record Powerball jackpot just keeps going up. Wednesday's drawing increased to $550 million. That means the winner could take the cash option of $360.2 million before taxes.

Now, the numbers are just an estimate and could increase even more as the drawing nears.

Powerball officials believe there is a 75 percent chance a winning combination of numbers will be drawn Wednesday night.

Players have until 8:59 p.m. Wednesday night to purchase tickets for the drawing. Powerball drawings are held on Wednesdays and Saturdays at 9:59 p.m.

John Burns, founder of Exencial Wealth Advisors, released some advice to the lucky winner(s), if in fact, there is one this time around.

He suggests a few steps to take after celebrating winning the lottery:

1. Create a Plan—Invest time and money to assemble a team that includes an accountant and financial advisor and attorney who can address how to manage an unexpected windfall.

2. Choose Wisely – One of the first decisions for lottery winners is to choose a lump sum or annuity like payments. This decision can depend on your tax implications and current assets and could helpful to discuss with a financial advisor.

3. Taxes – Remember that taxes are applied to lottery winnings, so make sure to set aside money to pay taxes on the winnings.

With the Powerball jackpot at $550 million, the Oklahoma Lottery is encouraging everyone to play responsibly.

Special Features

Community Calendar

Find out what's going on around town and submit events!


See it! Shoot it! Send it! Share your weather pics and videos with!

iPhone App

Get breaking news, weather, sports & video directly on your iPhone.

Mobile Alerts

Get breaking news, headlines, weather alerts & more on your cell phone.

TV Schedule

Need to know what's on TV? Check out our television schedule.

Live Radar

WARN Interactive
Powered by WorldNow
News On 6
303 N. Boston Ave.
Tulsa, OK 74103
Oklahoma's Own is proud to provide Oklahomans with timely and relevant news and information, sharing the stories, pictures and loves of Oklahomans across our great state including Tulsa's Own and Green Country's Own.
All content © Copyright 2000 - 2014, WorldNow and KOTV. All Rights Reserved. For more information on this site, please read our Privacy Policy and Terms of Service.