Los Angeles Ticket Wins $1.08 billion Powerball Jackpot

A ticket sold in California landed the $1.08 billion Powerball jackpot. There had been 38 draws without the top prize being won but that all changed on Wednesday.

The jackpot was due to be $1 billion but there was a massive demand for tickets. Over 4.8 million tickets were sold for the draw. In the end, it was a ticket sold at Las Palmitas Mini Market in Los Angeles that won the sixth highest US lottery jackpot.

That ticket was the only one able to match 07-10-11-13-24 and the Powerball 24. With a selection such as that, it’s possible the lucky winner used birthdays or anniversaries for their numbers.

Big Decision to make

No one has come forward to claim the Powerball jackpot. When the lucky winner(s) do so there’s a big decision to make. Do they accept their winnings as an annuity with annual payments of around $36 million?

Alternatively they can receive their winnings as a one-off cash payment of $516.8 million. That amount would then be subject to taxation.

One decision that won’t apply to this Powerball win is that of anonymity. This isn’t possible in the state of California. It’s possible the winner(s) could form a trust and have a legal representative claim their winnings. That would keep their real identity a secret.

California is certainly a lucky state in which to play the Powerball draw. Last November, the world record $2.04 billion jackpot was won by a ticket sold in Altadena. This latest win is the third largest ever seen in the Powerball draw.

The other billion dollar plus win was $1.586 billion shared between three tickets seven years ago. Two were sold in Florida and Tennessee, the other was another Californian win.

Huge Mega Millions jackpot

It’s the second win of over $1 billion this year. January saw a lucky player win a $1.35 billion Mega Millions jackpot. There hasn’t been a winner since April though and on Friday, the top prize is $720 million.

Get your Mega Millions tickets from Lottery24.