HomeNewsJackpot! California Ticket Holder Single-Handedly Wins $699.8M Powerball Lottery

Jackpot! California Ticket Holder Single-Handedly Wins $699.8M Powerball Lottery

by Madison Miller
Photo by: Justin Sullivan/Getty Images

What do you even do with $699.8 million in the bank account? It’s a hard number to even logically understand, but one California Powerball winner is about to find out. They beat the odds (one in 292.2 million, to be exact).

The beyond-lucky individual is walking away with one of the biggest lottery jackpots of all time. They are earning the entirety of the jackpot, which is sometimes instead collected by several individuals.

Massive Powerball Lottery for California Person

According to Daily Mail, the unnamed winner bought the ticket at an Albertsons grocery store in Morro Bay, California. The identity of the individual will remain confidential until there is an official claim form filed. The jackpot had been growing to gargantuan size for the past four months until this individual got that star ticket. No one had won the prize since June 5.

It all worked out for the best. The jackpot total for the Powerball slowly rose until it landed on almost $700 million. In fact, this makes it the fifth-largest prize in all of Powerball history as well as the seventh-largest lottery winning of all time.

This individual managed to have all six of the winning numbers as well as the Powerball number.

As is usual for the lottery, the winner can choose between a cash or annuity option. Annuity basically means that all this person’s winnings will be paid in installments over the course of 29 years. The other option is cash, which actually reduces the total earnings by about 30% to a total of close to $500 million. Either way, a huge sum of the money comes out of the jackpot due to taxes. Most winners tend to go for that cash option instead.

The store that sold the ticket is also getting some extra love. The store is getting $1 million as a bonus gift.

Other Extraordinary Lottery Wins

As for the biggest grand prize ever, this Powerball is still far behind. The ultimate jackpot was awarded in January 2016 and was a total of $1.586 billion. It was the first time the lottery passed the billion-dollar mark. This was split between three different winners, however.

The biggest Powerball winner of all time secured his bank just a couple of years ago. Manuel Franco, an avid Powerball player, earned $768.4 million all to himself.

Other people walked away with huge sums of money after this most recent Powerball too. The winners ranged from $1 million to a whopping $4. There were 2.8 million people that played in Saturday’s drawings alone and the winning numbers were drawn on Monday.

According to Insider, one Florida woman managed to win two separate lottery tickets on the same day. Talk about defying the odds. The 64-year-old won two $2 million lottery tickets on September 14.