Records Tumble As Powerball Lottery Declare $2.04 billion Jackpot Winner

A coverage of the world record Powerball Jackpot lottery win of $2.04 billion

The world record Powerball Jackpot lottery

Famous playwright Tennessee Williams once said that “Luck is believing you are lucky”. Someone in the USA’s Southern California must have felt overwhelmingly lucky while buying a Powerball lottery ticket more than three months ago. Because that “someone” has now won $2.04 billion, the highest-ever payout against a lottery ticket! 

The unnamed person has won $2.04 billion after no one hit the top prize in the last three months. The record-shattering revelation was made this Tuesday, delayed by nearly 10 hours as the organisers took extra caution to preserve the integrity of the draw and authenticity of the draw result. Besides, revised calculations were made on Monday after the initial jackpot estimation of $1.9 billion. The winning numbers were drawn in Tallahassee’s Florida lottery draw studio. The lucky numbers were 10, 33, 41, 47 and 56, and 10 on the red Powerball. The lucky ticket was sold by Joe’s Service Center in North-East Los Angeles. The seller, Joe Chahayed will receive $1 million for this simple twist of fate.

The draw was posted on the Powerball official YouTube channel where one could see the video of the drawn numbers. The winner has the option of choosing an annuity which is paid over 29 years. Choosing the cash option will trim down the treasure chest to nearly $997.6 million. Historically, jackpot winners have mostly opted for the cash option. 

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About Powerball

Powerball, one of the most popular of all lotteries in the USA, has been in play since 1992. It is played in 45 states in the USA. Draws are made three times a week. The tickets are priced at $2, with an additional $1 if you opt for Power Play. Power Play will multiply your non-jackpot prize by 2, 3, 4, 5 or 10 times. 

While buying the ticket, you get to select five numbers between 1 and 69 and one Powerball number between 1 and 26. Ticket sales close half an hour to one hour before the draw. A two-part verification of ticket sales is conducted by a third party before the draw process is initiated. If a drawn number(s) matches, the ticket holder should sign the ticket so that the win can be claimed even if the ticket is lost. There are 9 different win categories, ranging from $4 to the jackpot prize. Federal and local income taxes are applicable on the win amount. Consulting a financial adviser is an absolute must when you win large lottery sums.

Also Read – Financial advisor or no financial advisor. How does it make a difference

All-Time Highs 

Before this record-breaking win, some of the all-time high lottery wins include,

  • Powerball jackpot of $1.586 billion on 13 January 2016
  • Billion Mega Millions jackpot of $1.537 billion on 23 October 2018
  • Billion Mega Millions jackpot of $1.337 billion on 29 July 2022
  • Billion Mega Millions jackpot of $1.05 billion on 22 January 2021
  • Powerball jackpot of $768.4 million on 27 March 2019

Anyone interested in bets, lotteries, wagers etc. must, however, remember that for every jackpot winner, there could be millions of others who lose money. The odds of winning the Powerball jackpot, for instance, is one in 292,200,000!

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