$1.8 billion Powerball jackpot claimed

One lucky person won half of the lottery prize pool, but the amount they take back is a fraction of the advertised prize.

A Missouri ticket holder has officially claimed a share of one or the largest ever United States Powerball jackpots worth $893 million.

The winning ticket was drawn last week, and it was part of a $1.8 billion prize pool, making it one of the biggest jackpots ever awarded in the long-running lottery.

Powerball is one of the two most popular lotteries in the United States, along with Mega Millions. Tickets cost $2, with players selecting five numbers from 69 and a “Powerball”. Unlike many lotteries in Europe, which are capped, American lotteries can grow to extraordinary sums thanks to rollovers.

Historic jackpots

This latest $893 million prize is the second-largest Powerball jackpot won in Missouri and ranks among the top ten in US lottery history.

However, it falls short of the record-breaking $2 billion jackpot claimed in California in November 2022, which remains the biggest lottery win in history. A draw so big it was delayed by several hours before a winner was declared. 

The winner last week chose the lump-sum cash option, rather than one which pays the full amount gradually over a long period of time, which reduces the prize to an estimated $416 million before federal and state taxes are applied. US lottery winners typically face significant deductions, as prizes are taxed as income, meaning the final amount received is considerably less than the headline figure.