- Legal States
Deyan Dimitrov November 9, 2022 3 min read
Record Powerball Jackpot Goes to a Single Ticket in California
November appears to be the month of record-setting gambling wins. A few days ago, Houston’s Jim “Mattress Mack” McIngvale scored the biggest payout in sports betting history, walking away with $75 million. A yet-nameless person from California has now claimed the largest-ever Powerball jackpot of $2.04 billion.
The Jackpot Win Cooled Passions across the USA
There have been only four previous cases when the Powerball jackpot exceeded $1 billion, and Tuesday’s prize beats them all by a large margin. According to the lottery rules, the ticket holder can receive the entire amount over 29 years or settle for a one-time payment of $997.6 million. Federal taxes still apply in both cases and will reduce the sum the lucky winner receives by about a third. However, it is still an eye-watering amount of cash and should be enough to set anybody for life.
The Powerball jackpot will now reset to its base level of $20 million, which should quell the betting frenzy that had spread across the USA. Things had gotten to the point where people from states not participating in the lottery regularly crossed into ones that did to purchase tickets. Saturday’s prize drew millions of Americans, who increased the jackpot from $1.6 billion to $2.04 billion in just one drawing. Many hopeful participants entered with multiple combinations, which now seems somewhat ironic, given that Tuesday’s winner bought only a single ticket.
The Winning Draw Was Marred by Delays
The name of the jackpot holder is still unknown, although the lottery shared some additional information. The winning ticket was purchased in California, matching the winning numbers 10-33-41-47-56 and Powerball 10. The fortunate player visited Joe’s Service Center, located in Altadena, a few miles away from Pasadena, and beat the 1 in 292.2 million odds. Twenty-two other tickets won $1 million prizes for matching the five white numbers but failing to guess the red Powerball.
Tuesday’s winning draw experienced a 10-hour delay as Powerball officials reported that a participating lottery experienced difficulties completing the required security protocols. The eventual jackpot sparked accusations of foul play online, but the California Lottery reassured players that the draw met strict transparency requirements and was under strict supervision.
Previous Winner Stories Offer Helpful Insight
The $2 billion winner follows in the footsteps of hundreds of previous winners and would do well to learn from their experiences. The first and most vital step would be to use some of their newfound wealth to hire sound financial and legal advice. As California requires lottery winners to reveal their identity, they will inevitably be beset with business proposals, dubious investment opportunities, and pleas for handouts, so investing in sound counsel should be a priority.
The stories of Powerball winners are as diverse as they come. Many have used the good fortune to help their families, mend their lives and start fresh. Others have made more frivolous decisions, like one winner’s dream project to create a TV show featuring beautiful female wrestlers, eventually costing him most of his winnings. Whatever path the new billionaire takes, they will add to Powerball’s rich and varied history.