Lucky Powerball Player in California Hits $1.76bn Jackpot

In July, a lucky player from California won the grand prize from America’s favorite lottery, Powerball. At the time, the lucky winner won a mouth-watering $1.08 billion grand prize. Now, after nearly 40 consecutive draws, another lucky player secured a life-changing jackpot. The drawing on Wednesday saw a single ticket from California guess correctly all drawn numbers. As a result, the winner hit the $1.765 billion jackpot, the second-largest prize in the history of the game.

To secure the grand prize, the lucky player guessed correctly all white balls 22, 24, 40, 52, 64, as well as the red Powerball 10, from the drawing on Wednesday, October 11, 2023. The $1.765 billion-dollar prize can be secured via annual installments or a lump sum.

If the lucky lottery player selects annual installments, they will be able to collect the full sum via an initial installment followed by 29 annual payments with a growing interest rate of 5%. Sacrificing more than half of the sum, the lucky ticket holder can also collect a lump $774.1 million payment. Still, it’s important to note that the aforementioned payments are before taxes.

As noted, the recent jackpot marks the second-biggest prize from Powerball. The only time a bigger prize dropped was back in November last year when a lucky winner, again from California, secured the staggering $2.04 billion grand prize. The latest win marks the second time the Powerball jackpot is won after surpassing the billion-dollar mark.

Besides the grand prize, Wednesday’s Powerball drawing saw seven lucky lottery players take home $1 million each. Thanks to the Power Play multiplier, which was 2x, two winners took home $2 million each.

More than 5.3M People Secure Wins from Wednesday’s Drawing

Drew Svitko, Powerball product group chair and executive director of Pennsylvania Lottery, was excited about the recent drawing. He congratulated the new billionaire and the millions of players who were lucky and secured prizes from the latest drawing.

“For 31 years, some players who have dreamed about winning a Powerball jackpot have defied the odds, and in doing so, have helped generate critical funding for public services and programs supported by US lotteries,” added Svitko. Finally, he explained that a portion of the Powerball tickets from the latest jackpot run will contribute toward good causes in the states where the players live.

Overall, there were more than 5.3 million winning tickets from Powerball’s Wednesday drawing. Considering that the grand prize was won, it was now reset to $20 million or $8.8 million cash value for the upcoming drawing set for Saturday, October 14, 2023.