The Powerball jackpot in Arkansas reached the record for the biggest payout of $1,817 million in a drawing held on Christmas Eve. For this reason, the prize is the second-highest lottery award in recorded history.
Additionally, one ticket matched all six of the winning Powerball numbers that evening. The winning numbers were 4, 25, 31, 52, 59, and the red Powerball number was 19.
Accordingly, the winner was given the option of either receiving a lump transverse cash payment or a series of annuity payments. The option with a lump sum of cash is worth $834.9 million before taxes.
Importantly, this is only the second Powerball jackpot winner to come from Arkansas to date. During this time, it was disclosed that the lottery operator had kept the information of the winner private.
But the headline million-million megamoney-maker remains at $2.04 billion in terms of single-ticket winning lotteries. A California resident living in Altadena managed to hit that historic jackpot in 2022.
To win the Powerball, the participants need to match five white balls and the red Powerball. Further, every Powerball ticket card costs $2 if you buy from authorized retailers. At the same time, players face one-in-292.2-million odds.
Consequently, jackpot wins are extremely uncommon, even though a great number of people take part throughout the United States. Winners are offered an option of a lump sum payment or a long-term annuity payment.
In practice, most of the winners go with the immediate cash payout. The Powerball lottery was launched in 1992 and quickly became popular at the national level. Currently, the participants participate in 45 states and Washington, D.C.
In addition to this, participants also participate in games given in Puerto Rico and the United States Virgin Islands. Upon claiming the victory, the participants are subject to 24 to 37 percent federal taxes.
In many cases, winners are also subject to further state taxes. After all, the Arkansas Powerball jackpot is a perfect example of large prizes in combination with really long odds.
