No one won the Powerball at the beginning of this week, so the total jackpot has risen again. This time, the jackpot will be worth around $575 million, which is the ninth-largest jackpot amount ever. The cash option is around $409.3 million. Even though no one won the jackpot, there were still a few lucky people that won millions. Two tickets that were sold in Texas and Connecticut won $1 million each. A ticket in Montana was sold that had the Powerplay for $2 million.
No one has won the Powerball since October. Then, a player in California won $699.8 million. There are now three weekly chances to win the jackpot, with numbers being drawn on Monday, Wednesday, and Saturday. Additionally, the Mega Millions jackpot has risen to $244 million, with a cash option of $172.5 million.
October’s Record-High Powerball Jackpot Winner
As we mentioned above, the last time someone won the full Powerball jackpot was back in October of 2021. One very lucky California resident won a pretty hefty sum of money – $699.8 million. They managed to win one of the biggest amounts in Powerball history. Their ticket won the fifth-largest sum of money in Powerball history, and the seventh-largest in lottery history.
Of course, if you choose to take the cash option your winnings will be significantly lower – almost 30% lower, actually. Choosing the annuity payout option just means that the winner won’t get one lump sum of money, it’ll be paid out over a few decades. Even though it greatly reduces the winning amount, most people choose the cash option. Either way, the sums of money are greatly reduced by taxes. At that point, I suppose 30% doesn’t really matter. Especially if you’ve just won close to $700 million.
The lucky winner bought their ticket at an Albertson’s grocery store in Morro Bay, CA. Winners in California remain anonymous until an official claim form is filed. Some states will allow you to remain anonymous if you win the lottery. CA is not one of those states. However, N.J. Gov. Phil Murphy just passed a new law that will allow New Jerseyan lottery players to stay unnamed.
Largest Winning Powerball Hit the Billions
The largest Powerball jackpot was cashed out a few years ago, in 2016. It was split up between three people, but even then it’s a breathtaking and life-changing amount of money. This was the first time that the Powerball jackpot had reached that size. The total sum? A cool $1.586 billion. The largest single Powerball winning was about half that. Manuel Franco won $768.4 million by himself a few years ago.
For most of us, winning the Powerball would be a dream. An almost unattainable one, but still a dream. If you’ve bought a ticket, tonight might actually be your lucky night – it’s Wednesday. Powerball numbers will be drawn tonight at 10:59 E.T. Good luck!