Sunday, June 29, 2014

Rancher uses Powerball Prize to Beef up his Assets

New cars and houses are a popular purchasing choice with lottery winners, but rancher Tony Newbill has more unusual plans for his US Powerball prize.

"I’m putting it into cows," Newbill said. "We have about 100 head of cattle, and our family has been doing this for a long time."

Newbill's ticket matched four main numbers and the Powerball in the June 11, 2014, drawing. Normally this would have secured a $10,000 prize, but Newbill added the Power Play option to his ticket, and the Power Play number was 5, so his prize was multiplied accordingly. After state and federal taxes have been milked from the winnings he will have $34,000 to invest in his herd. He also plans to install a new irrigation system and do some infrastructure upgrades on his 160 acre ranch in Powell Butte, Oregon.

Newbill bought his winning ticket from Bandits Cafe in Redmond when he popped in for something to eat. He found out his ticket was a winner the following morning while enjoying his first coffee of the day.

"Of course, a little coffee got all over me after I saw what was starting to look like a win," Newbill admitted. "It was a shocker, it really was."

The win has also proved to be somewhat of an inspiration to the rancher's sister.

"She has been in a pool with people in the office," Newbill explained, "and she said, 'You gave us hope.'"

The Next US Powerball drawing is on Wednesday, July 2, 2014. The estimated jackpot is $90 million.