Millions of Aussies are scrambling to find their tickets in the hope of a lifechanging windfall following Thursday night's Powerball $100million draw. The jackpot has gone off with one lucky Queensland entry taking home the entire $100million. The jackpot was the third biggest prize this year, and the sixth largest in Australian lottery history. The winning numbers for Powerball draw 1475 are 16, 24, 11, 4, 10, 18 and 23. The Powerball was 6. The winning ticket was purchased in Brisbane's northside. Officials have been unable to contact the mystery winner to give them the lifechanging news as the entry wasn't registered.
The Powerball Frenzy
Up to half of Australia's adult population were expected to buy a ticket for Thursday night's draw. It was the equal third biggest lottery winner in Australian history. The last six figure jackpot was in May, when an Adelaide man became the biggest lottery winner in Australian history after a $150million windfall.
How Do Winners Spend Their Millions?
Aussies who have won the lottery have revealed all the lavish and responsible things they did after winning the jackpot. There were 500 division one winners last year and more than $1.5 billion was handed out to those lucky punters, which averages out to be about $3 million each if all the prizes were equal. Ahead of Thursday's $100 million Powerball draw, The Lott gave some examples of what winners raced to buy with their sudden influx of cash. But financial advisor James Wrigley told Yahoo Finance you need to be careful if you hit the big time this week.
Responsible Splurges
Some of the more sensible purchases from Aussie lottery winners last year included a "new hip and kitchen", as well as a "fence and a shed".
Lavish Dreams
But the more lavish splurges involved a trip to the Monaco Grand Prix, which was the winner's life dream, and a skydive over the Gold Coast.
Investment and Support
A little more than 50 per cent of winners said they invested part of their money for the future, and a further 53 per cent revealed they paid off their mortgage or bought a new house. Two-fifths of winners added that they spent some of the lottery money financially helping their friends and family.
Financial Advice for New Millionaires
Wrigley told Yahoo Finance that lottery winners shouldn't be discouraged from going on a shopping spree or sorting out their loved ones, but he urged them to think carefully about each purchase. "I think the trap that you can fall into is spending too much money on lifestyle things like a big house, a big holiday home... all of those kinds of things," he said. "At the end of the day, those things just might be nice to have, but they're going to cost you a lot of money to maintain." He said the costs might not be a big problem at the start when you have a lot of zeroes in your bank account, but council rates, cleaning, insurance and other bills can rack up considerably. "You can end up chewing up a whole lot of money tied up in these assets that don't actually do anything to assist you in retiring," Wrigley said.
That will ultimately depend on what you want out of life and how much you win, but Wrigley revealed the four top things he would do if he suddenly had more than $100 million.
Property Investment
The financial advisor said he would buy a home for his family.
Superannuation Boost
He explained he would make $110,000 non-concessional contributions - the current annual cap - to both his and his wife's super before June 30. Then in July, he would put $360,000 in both super accounts (you can find out more about this here).
Private Ancillary Fund
A private ancillary fund (PAF) is a type of charitable trust that can help manage your philanthropy. You can receive an immediate tax deduction on the money you put into the fund as long as you spend 5 per cent of the money per year on charities.
Family Trust
Wrigley said this is where the bulk of his lottery money would go, which would be invested in a range of shares and property investments. He said if you play the game right then your money can "last generations".
The Lott recommends winners sit down with a financial advisor before receiving their grand prize to ensure they use their money wisely. Entries to this week's $100 million Powerball lottery will close at 7.30 pm AEST on Thursday, August 22. The winning numbers will be drawn not long after entries close.
Awaiting the Lucky Winner
Ten division two winners are almost $190,000 richer while another 213 entries will take home $11,008.65 each. As the entry was not registered to a player’s card, the identity of the ticketholder remains a mystery. Lott spokesperson Anna Hobdell said someone has become an overnight multi-millionaire “but possibly doesn’t know it yet”. "Just imagine how $100 million might change your life and the lives of your nearest and dearest," she said. "If you discover you’re holding the division one winning entry, hold on tight to that ticket and phone 131 868 as soon as possible so that we can start the prize claim process." An Adelaide man holds the Australian record for the largest individual prize won after claiming a $150 million jackpot in May. Australia’s largest jackpot ever, a $200m Powerball draw in February, was split between two entries from NSW and Queensland.
The Powerball's Rise to $100 Million
On Thursday, the Powerball soared to $100m because no entry was able to match the important numbers to win division one for four straight weeks. Hobdell said up to half of all Australian adults were expected to grab a ticket in the draw. “As $100 million is the biggest prize offered by any Australian lottery game in almost three months, we anticipate a rush across the country as Aussies vie for the chance to become the next Powerball multimillionaire,” she said. “This is the time when office chatter turns into work syndicates and everyone becomes a dreamer, plotting how they’d spend a share of the phenomenal $100 million prize.” To secure a division one prize, players must match all seven winning numbers and the all-important Powerball. Powerball has had four winners in Queensland this year, five in NSW, one in Victoria, and one in South Australia. For the last $100 million Powerball draw in May, peak sales took place about 6.44pm and 8000 tickets were sold in a single minute. If you’re concerned about your gambling or the gambling of a friend or family member, log on to Gambling Help Online or make contact via phone on 1800 858 858. You can access online counselling as well as services in your state or territory and support for family and friends.
Winning Big: The Lottery's Waiting Game
If you're anxiously awaiting the results of Thursday night's mega $100 million Powerball draw, you'll be pleased to know the wait is over. Up to half of Australian adults are expected to have bought a ticket hoping for a shot at taking out the life-changing windfall. The Powerball jackpot reached eye-watering heights after weeks of going unclaimed. The $100 million prize the sixth-largest jackpot in Australian lottery history, and third largest this year. If one person is lucky enough to take out the entire win, they'll instantly join Australia's exclusive multi-millionaires club. If someone wins the entire $100 million prize, they’ll share the crown of Australia’s third biggest lottery winner ever. So it's time to check your tickets and see if you hold the winning numbers scoring you a piece of the lottery pie.
The Powerball's Winning Numbers
Winning numbers: 16, 24, 11, 4, 10, 18, 23
Powerball: 6
Winning Big: The Waiting Game
Despite the odds forever stacked against them, up to half of Australian adults are gambling on winning a $100 million lottery prize. The major jackpot in Powerball's draw 1475 on Thursday is the third-biggest offered by any national lottery game in 2024 and the sixth-biggest jackpot in Australia's lottery history. The Lott's Matt Hart says up to half of the Australian adult population are expected to enter the draw in the hopes of scoring Powerball's biggest win of 2024. Only five Australians know what it's like to win a lottery prize of $100 million or more, but Mr Hart says there is always room for that to grow.
But, if you are lucky enough to win Powerball, there are actually a few hoops you'll need to jump through before you start spending your cash. The first one being patience. Speaking to Yahoo News, a spokeswoman for the Lott said that those who bag the top prize will need to wait two weeks before they're distributed their winnings — a safeguard put in place to ensure people don't "rush their decisions". "Division one top prize and first prize lottery winners receive their prize two weeks after the initial draw date," the spokeswoman earlier told Yahoo News Australia. She explained a two-week provisional period is created to ensure winners don’t rush through their decisions and have enough time to complete their prize claim process. If a player wins a major prize on a ticket purchased in-store, they’ll have to either visit a prize payments office or mail the prize claim in.
The Prize Claim Process
If the player is registered to an online account or players card, the spokeswoman continued, and they win a major lottery prize, the lucky recipient will receive "a phone call from our dream delivery team" and written correspondence to confirm the win. Winning Aussies will also be given information to help them contact a financial planner to receive "professional advice from relevant stakeholders" in an attempt to ensure they don't blow the money. "We always encourage our division one winners to reach out to professional associations such as the Financial Planning Association of Australia for financial advice," the spokeswoman said. "All major lottery winners receive a booklet within their congratulatory kit with information to point them in the right direction." Meanwhile, if you think you've won big tonight you'll find out pretty soon, with registered winners earning over $60 million guaranteed a call within 20 to 30 minutes. Any less than that however, and you'll have to wait. "Other winners would expect to receive a winning phone call from us in the morning the next business day," she said. In the worst case scenario, that you win but lose your ticket, things will be slightly harder. "There is a lost and found ticket process where basically they need to provide significant details about the ticket – where they bought it, how they bought it, how they paid for it – only details a ticket holder would know," The Lott's Matt Hart told Yahoo. "Then we will have to launch an investigation and that could take weeks to confirm they really are the ticket holder. It’s best just to hold on to your ticket."
