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Posted: Wednesday, 19 February 2014 6:31AM

$400 million prize is among 5 largest ever for Powerball



Tonight's estimated $400 million dollar Powerball jackpot is considered the fourth largest in the game's history according to the Louisiana Lottery. Spokeswoman Kimberly Chopin says this jackpot has been rolling since Christmas Day.

Chopin says 8 of the Top 10 jackpots for the Powerball have occurred just since January 2012 when the game revamped to odds and ticket prices increased from $1 to $2.

She says lots of other prizes are won when the jackpots get huge.

"During this run we've had one Louisiana Match 5 millionaire and 10 winners of the $10,000 prize," Chopin said. "So we have plenty of big winners when sales are hot."

Chopin says tonight's jackpot has a cash payout of up to $227.8 million dollars. She says this will be the 16th drawing in the current run.

Chopin says when jackpots get this big, lots of people like to pool money to buy tickets. She says that's fine but only one legal entity can claim a lottery prize.

"So groups typically either form a corporation or they appoint one individual to actually claim the prize," Chopin explained. "And then all group members share in the tax liability."

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