This past Wednesday, March 27, a single Powerball ticket matched all six numbers in the drawing to win the staggering $768 million jackpot. One lucky man or woman from New Berlin, Wisconsin ended up hitting all the right numbers. The lucky numbers of the draw were 16, 20, 37, 44, 62, and 12 as the Powerball number.
A $100,000 incentive will be awarded to the Speedway in New Berlin where the ticket was purchased, while the actual winner is looking at a much bigger prize. Since the last Powerball prize landed back on December 26th, players have been eagerly expecting to see when this bubbled up jackpot would burst.
- $768 million Powerball jackpot has a single winner in New Berlin, Wisconsin.
- The winner can take the $477 million lump sum or $768 million in 30-year increments.
- The state budget and homeowners also benefit from the jackpot.
How Will They Split Up the Cash?
According to the Powerball lottery rules, the winner can choose to take the lump sum or get the equivalent of their winnings over the course of 30 years, receiving an annual payment. Calculations have turned out that a lump sum payment would come down to $477 million, and this is only before tax deductions.
No matter which course the winner decides to take, they will additionally be charged with up to $38 million tax fees going straight into Wisconsin’s budget, confirmed by Revenue Department Secretary, Peter Barca. He went on to note that about 60% of the lottery sales revenue is used to pay out prizes, while 28% support tax credits on homeowners.
Even with all the tax cuts, it’s safe to say the winner will have no money problems. David Barden, Powerball Product Group chairman and New Mexico Lottery CEO, stated:
A jackpot of this size can make many dreams come true – not just for the winner, but for all Lottery beneficiaries and the lucky state of Wisconsin.
180 Days to Come Forward
The winner will most likely get rid of any credit worries after they claim the prize in any format. According to Cindy Polzin, Wisconsin Lottery Director, the state law prohibits winners from remaining anonymous and allows them 180 days to step forward with the winning ticket.
What’s In It for the Rest?
This is the largest jackpot in Wisconsin’s lottery history, the third-largest in U.S. Lottery history, and Powerball’s second-highest jackpot of all-time. Players who have only gotten part of the numbers right still have a chance to make something out of it. As the Multi-State Lottery Association encourages:
“Participating lotteries are reminding players to check their tickets for one of the nine ways to win. In Wednesday’s drawing alone, more than 5.4 million tickets won prizes ranging from $4 to $2 million.”
Other Lottery Winners
A total of seven tickets are currently worth $1 million for matching all five balls and missing only the red Powerball number. Alternatively, there are two tickets that went for the additional $1 Power Play feature, guessed the number, and will see themselves landing $2 million for it.
With 1 in nearly 300 million odds of hitting the jackpot, Powerball still manages to ignite people’s interest, and it’s inspiring stories like this one that makes them believe it’s worth the gamble.