One Powerball winner—a lucky player in Arkansas—gained international notoriety for winning an unbelievable $1.817 billion jackpot in a Christmas Eve drawing. Today’s win is the second time that a winning ticket has been sold in that state. The winning ticket matched all six numbers: 4, 25, 31, 52, 59, and the red Powerball number 19. This historic victory marked the second-biggest lottery jackpot ever won in history.
Powerball is one of the most popular lottery games in the world, played in 45 of the 50 U.S. states. It enchants constituents in Washington, D.C., and American non-states that include Puerto Rico and the Virgin Islands. The game’s popularity skyrocketed after the drawing’s enormous jackpots had players lining up across the country to participate.
The winner may select the immediately available cash payment of $834.9 million as a one-time, lump-sum payment. Or, they can have the full jackpot amount paid as an annuity, paid over 29 years. Almost all winners choose the cash value option, which gives them quick access to the largest prize. Remember that like Powerball winnings, Powerball winners’ winnings are subject to federal income taxes in the range of 24% to 37%. Additionally, in most instances, you will owe state taxes.
You have a better chance of winning the Powerball jackpot, with odds at an astounding 1 in 292.2 million. That makes such a victory all the more remarkable! To claim the jackpot, a ticket holder must correctly choose all five white balls. They must correctly guess the red Powerball number drawn during the show. Tickets are just $2 apiece, and even with very long odds, tens of millions flock to buy them looking for a jackpot.
Arkansas recently passed eligibility for another big Powerball win. This most recent victory underscores the state’s growing reputation as a heaven on earth for lottery players. The frenzy created by the siren call of these enormous prizes attracts participation and excitement. This build up increases ticket sales and creates a lot of new revenue to state programs.