3rd Biggest Powerball Jackpot Drops at $1.08 Billion (₹8,260 crore)!

In a surprising turn of events on Wednesday, July 19, a single Powerball ticket sold in California cracked the jackpot worth a staggering $1.08 billion (approximately ₹8,260 crore). 

The jackpot, swelled beyond its initial estimation of $1 billion to $1.08 billion by the final ticket sales, now stands as the third-largest Powerball jackpot and the sixth-largest lottery jackpot ever claimed. The instant cash value of this colossal win is pegged at $558.1 million (approximately ₹4,573 crore), while the full amount can be paid out as an annuity. 

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The lucky numbers for the day were the white balls 7, 10, 11, 13, 24 and the red Powerball 24. The Power Play® multiplier stood at 2X. 

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Drew Svitko, the Powerball Product Group Chair and Pennsylvania Lottery Executive Director, congratulated the newest Powerball winner as well as the California Lottery. In his statement, Svitko praised the Powerball for bringing people together with big dreams and even bigger wins, and for contributing billions of dollars to good causes supported by lotteries.

The fortunate winner has the option to choose between an annuitized prize of $1.08 billion (₹8,260 crore) or a lump sum payment of $558.1 million (₹4,573 crore), pre-tax. If the annuity option is selected, the winner will receive one immediate payment followed by 29 annual payments, each increasing by 5% every year.

Though the jackpot was claimed by a single ticket, other lottery participants have been urged to check their tickets for other winning possibilities. The Powerball drawing produced over 4.8 million winning tickets within America alone, with lower-tier cash prizes amounting to a total of $85.1 million (approximately ₹636 crore).

In the same Powerball drawing on Wednesday, July 19, there were 36 tickets from various US states that matched all five white balls to win $1 million (₹8 crores) prizes each. Additionally, three tickets won $2 million (₹16 crores) each by including the Power Play® option. Also, 195 tickets won $50,000 (₹41 lakh) each, and 62 tickets won $100,000 (₹82 lakh) each.

After evading players for three long months, the Powerball jackpot was finally hit on the 39th drawing. 

Currently, the largest jackpot held by Powerball stands at a record-breaking $2.04 billion (approximately ₹16,500 crores).

If you want to participate in the lottery, Powerball tickets are available online from ₹150 per ticket via an exclusive “get 2 for 1 deal” that new players at Lottoland can grab. Otherwise, they cost around ₹300 per ticket.

As it stands, the overall odds of winning a prize in the Powerball lottery are 1 in 24.9, and the odds of claiming the jackpot are 1 in 292.2 million.

With this latest addition, the top 10 Powerball jackpots now feature the $1.08 billion win from July 19, 2023, making this a landmark moment in the history of the lottery.

With 8 years of professional work experience, Mattias Fröbrant is a recognized expert in the field of lottery and online gambling. As a meticulous reviewer of over 300 gambling sites in India, he has garnered industry recognition for his exceptional attention to detail and fact-checking prowess.
 
Having previously worked with prominent industry giants like Betsson Group, Mattias brings a wealth of expertise to the table. His deep understanding of Indian gambling platforms and online lotteries sets him apart as a trusted source of information.
 
At OnlineLottoBaba, Mattias’s mission is to simplify the online lottery experience for readers and to guide them to the best and safest lottery sites in India. Through thoroughly researched content, he provides valuable insights to enhance readers’ online lottery journey.
 
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