Following a span of steady growth spanning four months, a fortunate individual from Florida has emerged as the recipient of the Powerball jackpot’s grand prize. This achievement marks the third-largest sum ever won in the history of the Powerball lottery.
After an extended duration of nearly four months, a fortunate winner from Florida has successfully claimed the impressive $1.58 billion jackpot from the US Mega Millions lottery. During the drawing held on Tuesday evening (local time), this individual accurately guessed all six numbers.
However, the winner will only obtain the substantial prize amount if they opt for a distribution spread across 30 annual installments. Historically, most winners have chosen a one-time lump sum payment, which in this instance equates to an estimated $783.3 million. Irrespective of the chosen payout method, significant tax obligations will apply.
The 3rd largest winning amount in history
By Tuesday evening, a total of 31 draws had taken place since April 18, each without yielding a grand prize winner. This cumulative outcome led to the jackpot’s expansion, ultimately reaching the status of the third-largest lottery payout in the annals of US history.
The emergence of such colossal jackpot sums in the United States is attributable to the exceedingly low likelihood of winning. Within the context of the Mega Millions lottery, the odds stand at a mere one in 302.6 million.
Mega Millions is accessible for play in 45 US states, along with the nation’s capital, Washington D.C., and the US Virgin Islands.