“#HUGE #BREAKING #NEWS,” Tweeted the California Lottery. “The only winning #Powerball #jackpot ticket was sold in #California. This means #CALottery has made its FIRST EVER billionaire. Details forthcoming!” The winning ticket to the world’s largest jackpot was sold at Joe’s Service Center in Altadena, a gas station just north of Pasadena. The winning six numbers are 10, 33, 41, 47 and 56. Before this, the largest Powerball jackpot was in 2016. A record $1.586 billion jackpot was shared by winners in California, Florida and Tennessee. So far no one has claimed the winning ticket. Most likely the winner is experiencing a deluge of emotions about this life-changing 1 in this 292.2 million opportunity. They also have one year to come forward and claim their winnings before losing the money. Curiously, over the years many millions of dollars in lottery winnings have never gotten claimed. Each year it is estimated that about $2 billion in winnings remain uncollected. That’s per year! Peter Sullivan, founder and CEO of Jackpocket. a leading third-party app to provide a secure way to order official state lottery tickets, believes that lottery tickets go unclaimed unintentionally. “In many cases it’s due to lost tickets or to lottery winners forgetting to check results, misreading their ticket, and not realizing they’ve won,” he says. “One of the great things about Jackpocket is that we check your ticket for you after the drawing and automatically notify you when you win at any prize level.” “We never know exactly why someone doesn’t claim, but I would speculate that often it’s because they forgot they bought tickets altogether and never even realize they won! That, or they lost their ticket before the winning numbers were drawn?,” surmises Carolyn Becker, Deputy Director of Public Affairs and Communications, for CA Lottery where the wining ticket was purchased. Becker went on to add in California alone $1 billion in lottery winnings remains unclaimed. “Believe or not, about $1 billion of the roughly $40 billion the California Lottery has raised [for California public schools] since its inception is from unclaimed prizes,” she adds. “So it happens more often than people think. Perhaps the only reason I can think of is if their main motivation for playing is to support public schools and they know that’s where any unclaimed money goes.” So what will happen if no one claims the record Powerball jackpot. We learned more.
Where was the $2.04 billion Powerball ticket sold?
The $2.04 billion Powerball ticket was sold at Joe’s Service Center in Altadena, California, northeast of Los Angeles, a family run business that is owned by Joe Chahayed.
Who won the $2.04 billion Powerball jackpot?
The winner of the $2.04 billion Powerball ticket remains unknown.
What’s the cash value of the $2.04 billion Powerball jackpot?
If the winner chooses the cash lump sum, they will collect $997.6 million before taxes, according to the Powerball.
How much do Powerball winners pay in taxes?
If the single winner of the world’s largest lottery jackpot takes the lump sum, he or she will owe the IRS a mandatory 24% federal tax withholding of $239.4 million, leaving them with $758.2 million.
Can a lottery winner remain anonymous?
In some states, yes, but not in California. According to California law the winner must be identified. “Any CA Lottery winner’s name is subject to public record, per a couple of our state laws: mostly the California Public Records Act,” Becker says. “And there’s also language in the California State Lottery Act.” However, Becker goes on to explain a winner’s name is the only personal information that is public record. “The other aspects that are public are how much the prize is worth, where the ticket was sold, and whether the winner of a large jackpot takes the lump sum or the annual payments,” adds Becker.
If no one claims the Powerball jackpot, who will get the money?
If no one claims the jackpot, the funds California raised toward the cash value of the jackpot, which is about 13% of the $997.6 million goes directly to the state lottery’s beneficiary, California public education from kindergarten through university.
Have any other jackpots been unclaimed?
Yes! In the United States some big jackpots have never been claimed including the $77 million Powerball ticket in Georgia in 2011, the $68 million Mega Millions ticket sold in New York in December 2002, the $51.7 million Powerball ticket sold in Indiana in September 2002 and the $46 million Mega Millions ticket purchased in New York in April 2006.
What does the seller of the $2.04 billion winning Powerball ticket get?
Joseph Chahayed, the 75-year-old owner of Joe’s Service Center in Altadena, California was awarded a bonus of $1 million for selling the winning ticket. Chahayed, who emigrated from Syria in 1980 and has owned his gas station for two decades says he plans to share the money with his 11 grandchildren and other family members.
If you happen to be the holder of the $2.04 billion Powerball ticket what should you do?
“Don’t lose the ticket! Keep it safe and as secure as you can because you need it to claim the prize,” Becker says. The lottery also recommends that their biggest winners take their time. “They have a year to come forward, and it’s good practice to seek financial advice, hire a lawyer or other experts to help you.,” adds Becker. “We are talking about a life-changing amount of money, and it’s not often someone comes into wealth of this proportion. The winner will have some key decisions to make and should surround themselves with professionals who can help.”
What are the largest Powerball jackpots in history?
While this week’s $2.04 billion Powerball jackpot smashes previous records, there have been many sizable prizes over the years. Here are top 6, including this week’s prize.
- $2.04 billion, Powerball, Nov. 7 (one tickets, from California)
- $1.586 billion, Powerball, Jan. 13, 2016 (three tickets, from California, Florida, Tennessee)
- $768.4 million, Powerball, March 27, 2019 (one ticket, from Wisconsin)
- $758.7 million, Powerball, Aug. 23, 2017 (one ticket, from Massachusetts) 5 $731.1 million, Powerball, Jan. 20, 2021 (one ticket, from Maryland)
- $699.8 million, Powerball, Oct. 4, 2021 (one ticket, from California)
