Posted on: April 28, 2022, 05:00h.
Last updated on: April 28, 2022, 05:53h.
Last night’s Powerball draw made one very lucky player in Arizona a multimillionaire many times over.
Powerball’s April 27 drawing turned up the winning white ball numbers of 11, 36, 61, 62, and 68. The Powerball was 4.
Because of strong ticket sales, last night’s estimated jackpot ballooned past earlier estimates to $473.1 million. The lone winner will have the option to receive the full jackpot paid out over 29 years through 30 payments or take a one-time lump cash sum of $283.3 million. Both prizes are before federal and state taxes.
The odds of winning the Powerball jackpot are a dismal 1 in 292.2 million. The odds of winning any prize are 1 in 24.9, with the smallest prize being $2.
Last night’s draw saw another player match all five white balls for a $1 million pre-tax prize along with the Powerball jackpot winner. Twenty-three others matched four white balls plus the Powerball for $50,000 wins. Two of those tickets included the optional $1 Power Play to double their wins to $100,000.
According to a jackpot analysis completed by online lotto site USAMega.com, should the Arizona winner opt for the cash sum, the more common choice among Powerball and Mega Millions jackpot winners, their $283.3 million will be hit with federal taxes totaling 37%. That reduces the one-time payment to $178,516,045.
Arizona tacks on an additional 4.5% tax. That further reduces the Powerball jackpot by more than $12.7 million for a final distribution of approximately $161.5 million.
Arizona is unique in that it taxes lottery wins purchased in-state by non-residents higher at 6%. That means if the ticket holder bought the Powerball ticket in Arizona but doesn’t live there, they could be subject to both an Arizona tax and another state tax in their home state.
While most states tax lottery wins, nine do not. California, Delaware, Florida, New Hampshire, South Dakota, Tennessee, Texas, Washington, and Wyoming are the best places to win a life-changing lottery jackpot, as those states do not tax such wins.
Since 2019, Arizona has allowed lottery winners to remain anonymous for jackpots above $100,000. Arizona lottery rules provide winners 180 days from the date of the draw to claim/redeem their prize. Many other states, including Michigan, where an unclaimed $1 million ticket will expire May 5, 2022, allow winners up to a year to come forward.
Top 20 Jackpot
Lotteries in the US date back to the early 1960s, when the New Hampshire Sweepstakes began its operations.
Last night’s $473.1 million prize is among the 20 largest jackpots won. Today, 45 states, plus DC, Puerto Rico, and the US Virgin Islands have lotteries or participate in one.
The largest single US lottery win occurred in 2018 when a person in South Carolina won the $1.537 billion Mega Millions jackpot. Last night’s single hit on the $473.1 million Powerball bounty ranks as the 20th-largest per ticket jackpot won in US history.