Check those Powerball tickets carefully because the $1.6 billion jackpot could give a lucky winner the biggest prize in lottery history.
The winning numbers drawn on Saturday, November 5 were 28, 45, 53, 56, 69. The Powerball number was 20.
Before Saturday night, the biggest jackpot of all time was $1.586 billion in 2016, which was also Powerball. It was split three ways between the winners in California, Florida and Tennessee. The second largest lottery jackpot was the $1.537 billion Mega Millions prize in 2018. Mega Millions player from Illinois hits $1.337 billion jackpot July 29, reports California Lottery News Release.
The estimated $1.6 jackpot would be worth just over $782 million in cash if it were taken in one go, according to multistate lottery association. The jackpot will be larger than the gross domestic product of 22 countries, California lottery officials said.
That lump sum will be less after taxes — 25% is kept by lottery officials and the winner is responsible for the rest, which could exceed $300 million. Most states also tax state winnings, although 15 states, including California, Florida and Texas, do not. If you take into account the highest of taxes, the winner will still get the money – at least $424 million.
Don’t think you’d spend or invest your winnings wisely? With annuitized payments (and after taxes), the winner would receive at least $13 million in the first year, rising to a 30th annual payment of about $54 million, for a total after-tax payout of about $873 million.
No one hit the jackpot on the evening of Wednesday, November 2, 2022. Two California Lottery players won second place with two tickets that matched five numbers, worth approximately $1.044 million each. Those tickets, which were sold at an Ontario grocery store in San Bernardino County and a Milpitas 7-Eleven store in Santa Clara County, did not match the Powerball number.
Powerball is played in 45 states as well as Washington, DC; Puerto Rico; and the US Virgin Islands.
Five states—Utah, Nevada, Hawaii, Alaska and Alabama—do not have a lottery. A variety of reasons put them off, including objections from conservatives, concerns about the impact on low-income families, or a desire not to compete with existing gaming companies.
CALIFORNIA LOTTERY
The contribution to education from this latest record-setting Powerball streak, which began back in early August, is estimated at about $92.7 million, according to the California Lottery. Sales for this Powerball series in California totaled $231.8 million by the time the drawing closed Wednesday.
In the last hour of sales on Wednesday alone, the California lottery sold $5.5 million worth of Powerball tickets. The last player to win the $206.9 million Powerball jackpot was on Aug. 3 in Pennsylvania.
The Associated Press contributed to this report.
This story was originally published November 5, 2022 8:03 p.m.
