Arkansas Player Wins $1.817 Billion Powerball Jackpot On Christmas

A Powerball player in Arkansas struck it big on Christmas Eve, winning a massive $1.817 billion. This is the second-largest lottery jackpot ever claimed, as per reports.

The winning ticket matched all six numbers listed, which were 4, 25, 31, 52, 59 and the red Powerball 19, thus giving the winner the choice of taking a one-time cash payout of $834.9 million, or about Rs 7,550 crore.

According to the lottery operator, this is only the second time a Powerball jackpot has been won by a ticket sold in Arkansas. The winner’s identity has not been disclosed.

The anonymous winner can opt for a lump-sum cash payout of $834.9 million (about Rs 7,550 crore) or an annuity spread over 29 years, totalling the full amount. Most winners choose the immediate cash, despite steep taxes, as reported by the BBC.

The largest single-ticket prize remains the $2.04 billion jackpot won in 2022 by a player in Altadena, California which is approximately Rs 16,930 crore.

To win the Powerball jackpot, a ticket must match all five white balls and the red Powerball drawn.

Each Powerball ticket costs $2 (around Rs 165), and the odds of winning the jackpot are a staggering 1 in 292.2 million, according to the game’s organisers.

Winners can choose between receiving the full prize amount in annual installments over 29 years or opting for a lump-sum payout. Most winners prefer the upfront cash option.

Launched in 1992, Powerball is played across 45 US states, Washington DC, and the US territories of Puerto Rico and the Virgin Islands.

The winnings are subject to federal taxes ranging from 24% to 37%, along with applicable state taxes in most cases.

This US lottery is mammoth as opposed to modest state lotteries like Sikkim or Kerala which seems pale in comparison.