Arizona Man Wins $608.1 Million Powerball Jackpot
Published: May 12, 2022
Although estimated at around $584 million, the April 27 Powerball jackpot exceeded $608 million, with one lucky person from Arizona claiming the entire sum. The winning numbers were 11, 36, 61, 62, and 68, while the Powerball number was 4.
Strong ticket sales were the main reason behind the increase in the estimated jackpot. The lucky winner has two options for claiming his prize: he can either choose to receive the jackpot through thirty payments in the next twenty-nine years or take home a one-time lump sum in cash.
The chances of winning the Powerball jackpot are one in 292.2 million. The odds of winning any prize are one in 24.9, with $2.57 being the smallest prize on offer.
If the lucky man chooses to claim the cash sum, a common choice among Powerball winners, he’ll receive $364 million. After being hit with the 37% federal tax, his payment will be reduced to $229.4 million. Arizona has a tax of 4.5%, further dropping the prize to $207.6 million.
Arizona is among those states that tax lottery wins, while nine of them – California, Florida, Delaware, South Dakota, Texas, New Hampshire, Tennessee, Wyoming and Washington – don’t tax wins like this.
Since 2019, Arizona allows lottery winners not to disclose their identity, but only if their prices are above $128,000. Lucky winners have 180 days to claim their winnings. In many other parts of the US, such as Michigan, winners have up to twelve months to grab their jackpots.
This is one of the largest jackpots in the US. The largest single lottery win was awarded in 2018 when the $1.9 billion jackpot went to South Carolina.
Powerball is a lottery game offered in forty-five US states, the District of Columbia, Puerto Rico, and the US Virgin Islands.
The first drawing took place in April 1992, and for nearly three decades, the drawing was held on Wednesday and Saturday every week, while a third drawing, held on Monday, was added in August 2021. All drawings take place at Florida Lottery headquarters.