GREEN BAY, WI (WTAQ-WLUK) – Wednesday’s Powerball jackpot is the second largest in game history. More than $1.7 billion is up for grabs. And while the odds of winning are slim, Wisconsinites still win without even playing.
Lottery machines are working overtime as it’s been nearly three months since anyone has cashed in on the Powerball jackpot. Wednesday night’s drawing is more than $1.7 billion. The estimated cash value is almost $757 million.
“When the number goes higher more people play the lottery and it creates excitement and enthusiasm,” said Peter Barca, secretary of Wisconsin’s Department of Revenue.
You obviously can’t win the lottery if you don’t play, but thanks to the Wisconsin legislature, which enacted the gaming and lottery credit more than 30 years ago, Wisconsinites don’t even need to play to cash in.
According to Barca, “The idea when the legislature passed that credit, which I was in the legislature at the time, we decided that the proceeds should go to help people to be able to afford their property taxes.”
To qualify for the Lottery and Gaming Credit, you must be a Wisconsin resident, own a dwelling and use it as your primary residence. The credit isn’t automatic though. Residents need to sign up for it through their county treasurer.
But according to Peter Barca, the payout is worth it. Since the inception of the credit, more than $5 billion in property tax relief has been distributed to Wisconsinites.
“On average we’ve been giving over 2-hundred dollars the past couple of years which is a substantial amount for people, so it’s been a big plus and of course with the lottery jackpot now at $1.7billion we’re hoping we’re going to have a lot more money to add to that,” added Barca.
The exact amount of credit varies throughout the state depending on the tax rate of the school district, but the odds are definitely better to cash in on the tax credit versus winning the big jackpot.
