The biggest US Powerball jackpots

The biggest US Powerball jackpots

To say that US Powerball jackpots are among the largest in the world would be an understatement as the prizes awarded by this lottery are only second to the Mega Millions. On November 28, 2012 the American lottery broke the record and awarded $587 million, only 70 millions shy of overtaking the largest jackpot ever won. The prize was split between two winners from Missouri and Arizona and both of them settled for the lump payment. In 2006 a player from Nebraska won $365 million which he chose to be paid in yearly installments and that amount remains the biggest US Powerball jackpot to be won.

The third-largest Powerball jackpot was secure in 2005 when 2 families from Oregon won $314 million, with the next in line being a jackpot of $337 million won in 2012. Also in 2012 a jackpot of $336 million was scooped by a Rhode Island resident with two more prizes worth exactly $314 million being won in 2007 and 2002. These are the only Powerball jackpots so far that exceed $300 million, but the numbers suggest that more millionaires would be created by this popular American lottery in the upcoming years.

Although the idea of doubling the price of a Powerball ticket was regarded as pure greed, it led to a significant increase in the size of the jackpots. Some of the most important prizes were won in 2012, only a couple of months after the change had been operated. The overwhelming majority of Powerball jackpot winners prefers to receive the lump payment, despite the fact that by doing so they deprive themselves of a portion of the money. Those who settle for the annuity are also going to be stripped of roughly 30% of the jackpot, as a result of state and federal taxes.

 

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