Breaking: Two Winners Share Historic $1.8 Billion Powerball Jackpot in Missouri and Texas

Historic Lottery Victory

In a stunning development, two lucky tickets – one sold in Missouri and another in Texas – claimed the massive $1.8 billion Powerball jackpot on Saturday night, marking the end of an extraordinary lottery run. These fortunate winners will share what stands as the second-largest prize in U.S. lottery history.

The Winning Numbers and Prize Details

The winning combination that made history consisted of the numbers 11, 23, 44, 61, and 62, with Powerball 17. The winners now face a crucial choice: they can either split a lump sum cash payment of $410.3 million or share $893.5 million paid out over 30 annual installments that increase by 5% each year.

Record-Breaking Streak

This historic win comes after 42 consecutive drawings without a jackpot winner since the last prize was claimed in California on May 31. Prior to this win, the jackpot had been hit four times this year.

Tax Implications

Winners should be prepared for significant tax obligations. The Internal Revenue Service requires a 24% withholding on lottery winnings over $5,000, with an additional 14.6% due at tax time, bringing the total federal tax to approximately 37%. However, some states offer more favorable conditions for winners – California, Florida, New Hampshire, South Dakota, Tennessee, Texas, Washington, and Wyoming do not tax lottery prizes.

The Odds and Game Details

For those interested in trying their luck at Powerball, tickets cost $2, and players select five white ball numbers from 1 to 69, plus one red Powerball number from 1 to 26. Prizes start at $4 and increase up to the jackpot, depending on how many numbers match the drawing. Players can add the Power Play option for an extra dollar, which multiplies non-jackpot prizes up to 10 times.