Economist Jeffery Degner shares the first steps lottery winners should take to protect their privacy, manage their winnings, and avoid costly mistakes. A ticket sold in Illinois matched all six winning numbers in Wednesday’s Powerball drawing to claim the $1.04 billion jackpot. The grand prize has an estimated cash value of $450.5 million and ranks as the eighth-largest Powerball jackpot ever won, according to Powerball. The largest lottery jackpot in US history was won on November 7, 2022, when a ticket sold in California claimed a $2.04 billion Powerball prize. A $1.817 million Powerball jackpot won on Christmas Eve ranks as the second-largest prize in U.S. lottery history. The white balls drawn on Wednesday were 4, 26, 66, 67 and 69. The red Powerball was 9 and the Power Play multiplier was 2X. ARKANSAS WINNER CLAIMS $1,800 POWERBALL JACKPOT AND CHOOSES CASH OPTION A single Powerball ticket sold in Illinois matched all six numbers in Wednesday’s drawing to win the $1.04 billion jackpot. (CatLane / iStock)“Congratulations to our new Illinois Powerball jackpot winner,” said Stephen Durrell, president of the Powerball Product Group and CEO of the Kansas Lottery. “For more than three decades, Powerball has proven that a winning ticket can sell anywhere it is played, giving every $2 ticket the opportunity to change not only the winner’s life, but also the lives of generations to come,” Durrell continued. “As participation continues to grow across all markets, players are helping to drive bigger prizes and create even greater excitement for the game.” The winner will have the choice between an annualized prize of $1.04 billion or a lump sum payment of $450.5 million. Both award options are before taxes. the $1.04 billion jackpot, which has an estimated cash value of $450.5 million before taxes. (Patrick T. Fallon/AFP via Getty Images/Getty Images) If the winner selects the annuity option, they will receive an immediate payment followed by 29 annual payments that increase 5% each year. Four other tickets sold in Arizona, California, Florida and North Carolina matched the five white balls. The Match 5 prize is $1 million, except in California, where payouts are determined on a pari-mutuel basis. A fifth ticket sold in Massachusetts also matched all five white balls and included the Power Play option for an additional $1, doubling the prize to $2 million, according to Powerball. The Powerball jackpot was last won on May 2, when two tickets sold in Florida and Texas split a $20 million prize. Wednesday’s jackpot was the largest Powerball prize won so far this year. The drawing was the 44th in the current jackpot race and the first race to include players from the United Kingdom since Powerball ticket sales began there on July 21. GET FOX BUSINESS ON THE GO BY CLICKING HERE A Powerball ticket sold in Illinois matched all six winning numbers to end a 44-draw jackpot run. (Reuters) The jackpot will now reset to $20 million for the next drawing on Saturday. The odds of winning the Powerball jackpot are 1 in 292.2 million. FOX Business’ Matthew Kazin contributed to this report.
