The Winning $2 Billion Powerball Ticket Was Sold in California The odds of winning were roughly one in 303 million.
The Powerball jackpot surpassed $2 billion for the first time in its history, and the winning ticket was sold in California.
According to the California Lottery, the lucky ticket was sold at Joe's Service Center in Altadena, Calif. The grand total was $2.04 billion.
California Lottery makes its FIRST EVER Billionaire! One lucky ticket sold at Joe's Service Center in Altadena matched all 6 numbers in the November 7 #Powerball draw. The final jackpot amount for this draw came to $2.04 BILLION dollars. (1/2) pic.twitter.com/9mSEAh18s1— California Lottery (@calottery) November 8, 2022
Although the drawing was scheduled for Monday night, the would-be lucky winner had to wait a bit longer: A security issue delayed the results, Powerball said in a statement.
Tonight's Powerball® drawing has been delayed due to a participating lottery needing extra time to complete the required security protocols. Powerball has strict security requirements that must be met by all 48 lotteries before a drawing can occur. (1/2) pic.twitter.com/jQZJQIPJXr— California Lottery (@calottery) November 8, 2022
According to the statement, one of the 48 participating lotteries hadn't yet processed its sales and play data, and Powerball has "stringent security requirements to protect the integrity of the game."
But the winning numbers have since been revealed: 10, 33, 41, 47, 56, and the Powerball was 10.
Winning a jackpot requires picking five numbers between 1 and 69 and a sixth number between 1 and 26 (these can also be generated automatically). The person or people who select all of the numbers correctly will walk away with the money — odds of roughly one in 303 million, per NerdWallet.
For those who do win big, the amount they actually take home will be determined by if they choose to accept the prize as a 30-year annuity or a lump sum that's worth roughly 51% less, per CNBC. But the total winnings will also largely depend on the winner's state taxes.
There are only eight states that don't tax lottery winnings: California, Florida, New Hampshire, South Dakota, Tennessee, Texas, Washington and Wyoming. Other states charge anywhere from 2.9% to 8.82% taxes on the prize.
At the federal level, this massive jackpot will incur a 24% upfront tax in addition to a 37% tax on income.