Record-breaking $2 billion Powerball jackpot ticket won in California

[Chris]

Record-breaking $2 billion Powerball jackpot ticket won in California
The lucky ticket holder has a choice of taking a lump sum of $997.6 million cash or receiving the full amount in 29 annual payments.
By REUTERS
Published: NOVEMBER 8, 2022

A Powerball player in California holds the only winning ticket in Tuesday's drawing for the $2.04 billion jackpot, according to the game's website, ending a string of 40 drawings that produced no winners and pushed the top prize into record territory. The lucky ticket holder, whose identity was not disclosed, has a choice of taking a lump sum of $997.6 million cash or receiving the full amount in 29 annual payments.

The odds of matching all six numbers in the drawing - 10, 33, 41, 47, 56 and 10 - were 1 in 292.2 million. The previous record for a Powerball jackpot was set in 2016 when three ticket holders from California, Florida and Tennessee shared a $1.59 billion top prize.

more............. https://www.jpost.com/j-spot/article-721821

 

[Tall Timbers]

The lump sum will be $648,544,000 after Federal taxes and then the number would decrease again by the amount of any state taxes. In CA that would leave the winner with about $562,287,648. That's a far cry from $2.04 billion... but it's still a nice win. If the winner put the full amount in an e*trade premium savings account, he could live off a little over $1.5 million per month interest (before taxes) and keep the principal.

 

[Baby Yoda]

I hate when they tell you where the winning ticket was purchased before you can get a look for yourself. *grumble grumble*

 

[Ghoti Ichthus]

I didn't realize PB now has Monday drawings. I thought it was still only Wednesdays and Saturdays, so I didn't buy a ticket

 

[Tall Timbers]

I didn't realize PB now has Monday drawings. I thought it was still only Wednesdays and Saturdays, so I didn't buy a ticket

You saved yourself some money!

 

[Spartan Sprinter 1]

The lump sum will be $648,544,000 after Federal taxes and then the number would decrease again by the amount of any state taxes. In CA that would leave the winner with about $562,287,648. That's a far cry from $2.04 billion... but it's still a nice win. If the winner put the full amount in an e*trade premium savings account, he could live off a little over $1.5 million per month interest (before taxes) and keep the principal.

YOUR A GENIUS MY FRIEND IM AMAZED LOL !!!

 

[Tall Timbers]

YOUR A GENIUS MY FRIEND IM AMAZED LOL !!!

The Federal tax rate that I used may have increased by 2%... but the error would only be in the neigbhorhood of of a mere $20 million in additional taxes...

 

[twerpv]

I wouldn’t want the responsibility of this kind of windfall. I would also be concerned on how it would or could change relationships.

 

[Dave_97]

I wouldn’t want the responsibility of this kind of windfall. I would also be concerned on how it would or could change relationships.

I personally don’t play whenever it the money gets to the high millions (even though the chances of winning are very small). I’ve told my parents, with that kinda money it might end up bringing more issues than helping you.

 

[Tall Timbers]

’ve told my parents, with that kinda money it might end up bringing more issues than helping you.

It would ruin the life of most people but there are some for whom it wouldn't present a problem.

The individuals who could easily manage those sums of money aren't likely to have ever purchased a lottery ticket.

 

[Dave_97]

It would ruin the life of most people but there are some for whom it wouldn't present a problem.

The individuals who could easily manage those sums of money aren't likely to have ever purchased a lottery ticket.

I would pray for Gods wisdom earnestly if I ever won that kind of money.

 

[ItIsFinished!]

I personally don’t play whenever it the money gets to the high millions (even though the chances of winning are very small). I’ve told my parents, with that kinda money it might end up bringing more issues than helping you.

Exactly.
I read several articles of those who won large amounts of money via lottery and they said it was the worst thing that happened to them.
They gave several examples as to why. Many said if they could do it all over they would never of purchased the winning ticket. They said it destroyed all their relationships and they had no real joy.
We know it wasn't the money, but rather the expectation of what that money could bring them. Many of them became broke and some were in debt. Some committed suicide.
Their collective situation will preach.
The only true , real, eternal joy comes from a RELATIONSHIP with The Lord Jesus Christ.
My pastor from many years ago said you (you in general) should not participate in the lottery because like almost all gambling, many have to lose so one can win (sometimes multiple people , but you get the jist.)
That resonated with me . Kinda breaks your heart knowing so many (including us in times past) try to fill that Cross shape void in our hearts with material things , drugs, alcohol, sex, dysfunctional relationships ect...
I feel for these folks that are in that bondage.
There are so many in this world that look for peace and contentment outside of Jesus Christ.
I thank God for mercy and grace.

 

[Ghoti Ichthus]

If I were ever to win anything other than a minor prize, I figure tithe, taxes, student loans, and a little left to take Dad out to dinner

If there's enough for me to get a very small house or mobile home on a small lot that would be nice, but I'd be happy just to do line one, above.

 

[Tall Timbers]

If I were ever to win anything other than a minor prize, I figure tithe, taxes, student loans, and a little left to take Dad out to dinner

If there's enough for me to get a very small house or mobile home on a small lot that would be nice, but I'd be happy just to do line one, above.

I won 200 Colombian pesos once. I split the winnings with the campesina who bought the ticket in my name since I don't participate in games of chance. My 100 pesos was the equivalent of a little less than $3 US. I probably used my windfall to purchase pepsi and roscones. A litre bottle of pepsi was 6 pesos and I think a roscon in Barbosa was 2 pesos. The roscones I purchased had bocadillo in them. Normally that word means little sandwiches but in Santander del Sur it was dulce de guayaba. I loved those roscones. Whenever I had a little money in my pocket, which wasn't very often, I'd make the 6 mile round trip walk for some roscones.

 

[Belle of Grace]

The only true , real, eternal joy comes from a RELATIONSHIP with The Lord Jesus Christ.
My pastor from many years ago said you (you in general) should not participate in the lottery because like almost all gambling, many have to lose so one can win. . .

 

[Andy C]

The lump sum will be $648,544,000 after Federal taxes and then the number would decrease again by the amount of any state taxes. In CA that would leave the winner with about $562,287,648. That's a far cry from $2.04 billion... but it's still a nice win. If the winner put the full amount in an e*trade premium savings account, he could live off a little over $1.5 million per month interest (before taxes) and keep the principal.

What????? Pay a few dollars for the winning ticket, yet only pocket 648 million, what a rip…..

I read about a lottery winner years ago, who took yearly payments vice lump sum. He received approx 1.4 million a year, and he claimed he never made it more than 4 months before the yearly money was gone. He had a low income part time job in between. He did buy a house his first year and a car, the rest he said ”I spent it on woman and wine, the rest foolishly”

 

[HisGloryIsPrecious]

I will confess I did play even though winning big would be a be carful what you wish for scenario. I don’t understand the ins and outs of money. I probably would be afraid of the 87,000 IRS agents if my accountants didn’t know what they were doing. Thankfully Jesus is not an IRS agent. He has given me richness of the heart. We should always abide by the old saying, “You can’t take it with you.”

 

[Jaybird]

Lotteries are such a scam. The state wins two ways: one from selling the ticket and two, by taxing the heck out of it. Who is the real winner?

 

[Andy C]

Lotteries are such a scam. The state wins two ways: one from selling the ticket and two, by taxing the heck out of it. Who is the real winner?

The person with 648 million might be considered a winner…

 

[TimeWarpWife]

I remember years ago I was standing in line at a 7-11 waiting to pay for my Super Big Gulp, and the guy in front of me asked to buy lottery tickets. He told the 7-11 clerk that he was hoping to win enough money to buy his son, who played sports, a letterman's jacket for Christmas. He also mentioned he played the lottery every week. I thought to myself that had he saved all the money he was wasting on lottery tickets, he could have had the money to buy his son the jacket. My guess is that kid probably never got the jacket.