A fortunate Powerball player is due to receive a substantial payout. According to a report, a player won a remarkable $1.08 billion jackpot on the night of July 19, making it the third-largest prize in the history of the lottery game.
The winning ticket was purchased in California, granting the player a $1.08 billion jackpot or a payment estimated to be $558.1 million after taxes. The prize recipient usually faces a minimum of 24 percent federal withholding tax and it could go upto 37 percent tax on most of the winnings, as the IRS considers lottery winnings as regular income.
The winning numbers for the Powerball jackpot were 7, 10, 11, 13, 24, and the Powerball number was 24. A noteworthy observation is the repetition of the number 24 in both the winning numbers and the Powerball. This is not a common occurrence. The last instance of such a recurrence in numbers was during the Powerball draw on May 20, 2023. The winning numbers were 17-23-32-38-63, and the Powerball was 23. Prior to that, on October 31, 2022, the number 13 appeared twice. It should be noted that the particular draw was also for a $1 billion prize.
The most recent win occurred after 39 drawings without a jackpot winner. The last one dates back to April 19 when a ticket holder in Ohio won $252.6 million. In the recent draw, three ticketholders won a $2 million prize for matching all the white balls with the Power Play. Additionally, 36 individuals, including two in New Jersey and five in New York, matched all five white balls to win the $1 million prize. The next draw is scheduled to be held at 11 p.m. ET on Saturday, July 22.
Largest jackpot in the history of Powerball
The chances of winning the Grand Prize jackpot are remarkably slim, at 1 in 292,201,338. Nevertheless, in November 2022, Edwin Castro, a Californian resident, defied the odds and secured a staggering $2.04 billion, marking the largest jackpot ever won in Powerball history. He chose to receive a cash payment, which amounted to an impressive $997.6 million.
After his massive win, Castro acquired a luxurious $25 million mansion in Hollywood Hills. He now ensures his personal security with a team of at least three bodyguards wherever he goes.