One lucky individual has just won the second largest Powerball® jackpot in history, over $1.5 billion, as announced following Powerball’s most recent drawing on October 11.
The grand prize has been steadily rising for multiple weeks. The jackpot had amounted to an estimated $1.73 billion (annuitized) this week after yet another drawing with no winner, as previously reported by The Dallas Express.
Winning numbers for Wednesday night’s drawing were 22, 24, 40, 52, and 64, with a red Powerball 10 and Power Play multiplier of 2X. The estimated grand prize winnings are worth $1.76 billion with an estimated cash value of $774.1 million, as ticket sales pushed the initial estimate upward.
The lottery entity announced on October 12 that the winning ticket was sold in California. This amount is the second largest in Powerball history, second only to the world record $2.04 billion Powerball jackpot also claimed in California in November of last year, making this the “first time that two consecutive Powerball jackpot cycles have produced billion-dollar grand prizes,” per the Multi-State Lottery Association.
This winning ticket holder will choose to receive their prize as an annuitized at an estimated $1.765 billion over 29 years, increasing by 5% each year, or receive a lump sum payment of $774.1 million.
California was not the only state to declare bragging rights on Wednesday night.
Nationwide, over 5.3 million winning tickets were sold, including seven tickets that matched all five white balls in California (2), Florida (2), Virginia, New York, and Oklahoma, each garnering the $1 million prize. Two tickets sold in Arizona and Pennsylvania won $2 million through Power Play.
“Congratulations to the newest Powerball billionaire and the millions of Powerball players who won other cash prizes in last night’s drawing,” said Drew Svitko, Powerball product group chair and Pennsylvania lottery executive director, in a press release.
“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 U.S. lotteries.”
Powerball will have its next drawing on October 14 with an estimated jackpot of $20 million.
