$2.04 Billion Powerball Jackpot: How Much Will the California Winner Get If They Choose Lump Sum Payment?

Technical issues and delays plagued the much-anticipated Monday drawing for the Powerball which had the largest-ever Powerball jackpot worth $2.04 billion. The numbers have been drawn and officials have announced that there is indeed one winner from California.

The winning numbers for the November 7, 2022 draw are 10, 33, 41, 47, 56, and the Powerball is 10.

According to The Hill. the winning ticket was bought in a gas station in Altadena, California, which is an unincorporated part of Los Angeles County. The winner has two options in getting his/her prize, and they are getting the lump sum amount or getting it through 30 annuity payments across 29 years.

The more popular option is taking the lump sum amount. If the winner does opt to get that choice, he/she will receive an estimated $997.6 million lump sum, minus taxes. Since the winner may be from California, state taxes will not be an issue. However, that winner will still be paying federal income taxes.

If the winner opted for the annuity payments, he/she can get 30 equal payments of $63 million per year. This amounts to a total of $1.9 billion over 29 years and may be larger overall than the $997.6 million cash if ever the winner chooses to go with the lump sum amount.

Other Powerball Winners Announced

While one person from California won the world record-setting prize, another winning ticket has earned a player from Florida $2 million for getting five numbers correctly and selecting the Power Play option.

Twenty-two other ticket holders also got five of the numbers correctly and won $1 million, according to the official Powerball website. Those winners hailed from California, Florida, Georgia, Louisiana, Massachusetts, Maryland, Michigan, Missouri, North Carolina, New Jersey, Ohio, Oregon, Pennsylvania, South Carolina, Texas, and Washington. They only received $1 million because they did not pay extra for the Power Play option.

With one winner confirmed, the official Powerball website also revealed that the new jackpot prize has now gone back down to $20 million.The next draw wiil happen on November 9, 2022 at 10:59 PM EST.

Powerball Results Delayed Because of Technical Issues

As for the draw itself. it was delayed, with the results being announced later than expected. The Multi-State Lottery Commission told CNN that one state needed more time to complete security protocols.

"When the required security protocols are complete, the drawing will be performed under the supervision of lottery security officials and independent auditors," the California Lottery stated.

The lottery body also added that the delay went on until Tuesday morning because of some issues being experienced in another state.

"It is not due to any delays at the California Lottery. There is currently no estimated time for the drawing," said the California Lottery a few moments before the lottery results were posted on its Twitter account and website.

This article is owned by Latin Post.

Written by: Rick Martin

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