Powerball Jackpot Reaches $900 Million, Third Highest Payout in Game’s History
The current Powerball jackpot has reached a staggering $900 million, making it the third-highest payout in the history of the game played in 45 states. Sotheby’s International Realty recently listed the most expensive Los Angeles home, a 10-bedroom Southern-style mansion in Beverly Hills, for $45 million. While this price tag may seem exorbitant, it pales in comparison to the potential winnings from the Powerball jackpot.
For those dreaming of a trip to outer space, the cost can range from $450,000 on Virgin Galactic to a whopping $28 million for the first ticket beyond Earth by Blue Origin in 2021. Likewise, a share of a minor league baseball team could cost anywhere from $6 million to over $50 million. Even a luxurious 2002 Benetti Classic Felicita 115-foot fiberglass yacht docked in Marina Del Rey is priced at just under $5 million. But all of these purchases are easily within the realm of affordability for a lucky Powerball winner.
The winning numbers for the recent Powerball draw were 5, 8, 9, 17, and 41, with the Powerball number of 21. In order to win the grand prize, players must match all five white ball numbers and the red Powerball number. Unfortunately, no one claimed the jackpot from this draw, resulting in an even bigger prize for the upcoming drawing on Wednesday.
If someone were to win Monday’s Powerball bonanza, they would have the choice of taking a lump sum payment of approximately $465.1 million, as estimated by Powerball officials, or receiving a 30-year annuity worth around $900 million. However, it is worth noting that 24% of the winnings would be withheld for federal taxes, while California winners are exempt from state and local taxes.
California residents have had a significant presence in Powerball history. In 2022, Edwin Castro secured the largest Powerball prize ever, winning a staggering $2.04 billion. Castro subsequently splurged on a $25.5 million Hollywood Hills home and a $4 million Altadena mansion. Meanwhile, Marvin and Mae Acosta, residents of Eastvale, were part of a then-record-breaking $1.6 billion jackpot in 2016. They chose the pre-tax lump-sum option of $327.8 million.
The odds of winning the Powerball jackpot are estimated to be 1 in 292 million, according to Powerball officials. While the chance may be slim, there are other substantial prizes aside from the jackpot, ranging from $1 million to $50,000. With such high stakes and dreams of a life-changing fortune, Powerball continues to captivate the nation as millions hope to strike it rich with the next drawing.
