California Lottery Player Wins $1.73 Billion Powerball Jackpot

A lottery player in California has won the $1.73 billion (a little over Rs 7,500 crore) Powerball jackpot, ending the long stretch. According to CNN, this is the second-largest jackpot in the Powerball and US lottery history. The winning numbers are 22, 24, 40, 52, 64 and the Powerball 10. The winner has the option to either go for an annuity payment of $643.7 million over 30 years, or choose a lump sum prize money, estimated at $756.6 million, both before taxes, the outlet further said.

Gambling winnings in the US are subject to mandatory federal withholding taxes. In some of the US states, there are state taxes too - ranging from 2.5 per cent in Arizona to 10.9 per cent in New York.

The grand prize had been steadily increasing after weeks of drawings with no jackpot winner.

Powerball ticket sales since July have allowed the California Lottery to raise nearly $110 million for public education, the state lottery said in a news release.