A historic Powerball win occurred with all six numbers matched, resulting in a single ticket winning the fourth-largest jackpot in the game’s history, totaling over $1.3 billion.
The winning ticket was sold in Oregon, pushing the jackpot past its initial estimate to $1.326 billion, now ranking as the eighth largest in U.S. lottery jackpot games, as announced by Powerball.
The lucky winner now has the option to choose between a lump sum payment of $621 million after taxes or an annuitized prize, which entails yearly payments to the winner, also before taxes, according to Powerball.
If the annuity option is selected, the winner will receive an immediate payment followed by 29 annual payments increasing by 5 percent each year, as stated in a Powerball press release.
The drawing was delayed as one lottery needed extra time to complete pre-draw procedures, according to Powerball.
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“Following the completion of procedures, the drawing took place at 2:29 a.m. ET on Sunday at the Florida Lottery draw studio and was live streamed on Powerball.com,” the press release stated.
In addition to the jackpot win, over 4.5 million tickets across the country secured winning amounts this weekend.
Seven tickets matched all five white balls to win $1 million each. The winning tickets were sold in Arizona, Delaware, Florida, Iowa, Massachusetts, Michigan, and Wyoming.
Furthermore, 81 tickets won $50,000 prizes, and 26 tickets won $150,000 prizes.
This year alone, the Powerball jackpot has been won twice, with a previous win on New Year’s Day in Michigan totaling $842.4 million.
The highest jackpot win to date was $2.04 billion, which occurred in November 2022 with a ticket purchased in California. This was preceded by two wins in 2021 and followed by another win in 2023, totaling $2.18 billion.
A Powerball jackpot is won when a ticket matches all five white balls and the red Powerball.
The odds of winning any prize in a Powerball drawing are 1 in 24.9, and the odds of winning the jackpot are 1 in 292.2 million, according to the lottery.
Powerball tickets are priced at $2 per play and are available for purchase in 45 states, as well as the District of Columbia, Puerto Rico, and the U.S. Virgin Islands.
More than half of ticket sale proceeds remain in the jurisdiction where the ticket was sold, as per Powerball.
“Powerball drawings are televised live every Monday, Wednesday, and Saturday at 10:59 p.m. EST from the Florida Lottery draw studio in Tallahassee. Powerball drawings are also live streamed on Powerball.com,” the press release concluded.
