Powerball Jackpot Worth 2M Hit in California, Wisconsin
Powerball has kicked off 2022 in grand fashion. Two lucky players claimed last night’s jackpot, worth $632.6 million.
The Multi-State Lottery Association (MUSL), which operates Powerball, said two tickets sold in California and Wisconsin each matched all six numbers during last night’s January 5 draw. The winning numbers were 6, 14, 25, 33, 46, and the Powerball number 17.
Both tickets overcame the severely long odds of 1 in 292.2 million by matching all six balls.
The $632.6 million jackpot is the 11th largest lottery sum won in US history. MUSL explains that each ticket is worth $316.3 million, or $225.1 million should the winner opt for the one-time cash option.
Last night offered up the seventh-largest Powerball jackpot in the game’s history. Powerball began in April of 1992.
Top 10 Powerball Wins
- $1.586 Billion – Jan. 13, 2016 – CA, FL, TN
- $768.4 Million – March 27, 2019 – WI
- $758.7 Million – Aug. 23, 2017 – MA
- $731.1 Million – Jan. 20, 2021 – MD
- $699.8 Million – Oct. 4, 2021 – CA
- $687.8 Million – Oct. 27, 2018 – IA, NY
- $632.6 Million – Jan. 5, 2022 – CA, WI
- $590.5 Million – May 18, 2013 – FL
- $587.5 Million – Nov. 28, 2012 – AZ, MO
- $564.1 Million – Feb. 11, 2015 – NC, PR, TX
Two Tickets, Two Different Prizes
Last night’s winning Powerball ticket in California was sold at a 7-Eleven in Sacramento. The winning ticket in Wisconsin was purchased by someone located in Green Bay, but Wisconsin Lottery officials didn’t pinpoint where it was sold.
Assuming both winners take the lump cash option, the lucky recipients will collect vastly different fortunes. Both will be hit with an effective federal tax of 37 percent, reducing their payouts from $316.3 million by $117 million to $199.3 million.
The California winner will receive that amount, as the state doesn’t tax lottery winnings. The Wisconsin winner, however, will need to pay a 7.65 percent state tax on the sum, reducing the final prize to around $175.1 million.
State lottery laws in each state prohibit the winners from remaining anonymous. The Wisconsin winner has 180 days to come forward, while the California winner has up to a year.
While the odds are little to none of winning the Powerball jackpot, the popular lottery game has numerous lower-tier prizes that come with much better odds. Powerball says a player has an overall chance of one in 24.9 of winning a prize.
During last night’s draw, 12 tickets matched all five white balls for a $1 million prize each. Two of those tickets purchased the $1 add-on Power Play option that doubled their prize to $2 million.
Seventy-seven other Powerball tickets hit four of the white balls and the Powerball to win $50,000 prizes. Thirteen of those had the Power Play option to take their prize to $100,000.
A total of 1,624,926 tickets won the minimum prize of simply matching the Powerball to win $4, or double the $2 Powerball standard ticket cost.
The post Powerball Jackpot Worth $632M Hit in California, Wisconsin appeared first on Casino.org.