Powerball is one of the biggest lottery games in the United States with prizes to match.
With Powerball soaring, you might be wondering how the current prize compares to others in the history of the game. The most recent $213.8 Million Powerball, won on August 12, 2024 in Pennsylvania, was a big win—but nowhere near the largest jackpot ever in the United States.
What could top that? And what is the biggest powerball jackpot anyway?
Image Credit: Warren-Pender / istockphoto.
What is The Biggest Powerball Jackpot?
On November 7, 2022, the highest Powerball jackpot was won at $2.04 billion, marking this victory as the biggest Powerball jackpot in history!
Image Credit: Julie Clopper/istockphoto.
Top 10 U.S. Jackpots
Now let’s rank the $842.2 million Powerball among the top Mega Millions and Powerball jackpots in U.S. history.
- $2.04 billion Powerball – Nov. 7, 2022
- $1.765 billion Powerball – Oct. 11, 2023
- $1.602 billion Mega Millions – Aug. 8, 2023
- $1.586.4 billion Powerball – Jan. 13, 2016
- $1.537 billion Mega Millions – Oct. 23, 2018
- $1.350 billion Mega Millions – Jan. 13, 2023
- $1.337 billion Mega Millions – July 29, 2023
- $1.326 billion Powerball – April 6, 2024
- $1.28 billion Mega Millions – March 26, 2024
- $1.08 billion Powerball – July 19, 2023
- $1.05 billion Mega Millions – Jan. 22, 2021
- $842.4 million Powerball – Jan. 1, 2024
Image Credit: ablokhin / iStock.
Biggest Powerball Winners
Meet some of the lucky people who won big on a record Powerball.
1. $2.04 Billion (California) in 2022
Who won the biggest jackpot in the world? Edwin Castro won the $2.04 billion Powerball jackpot on November 7, 2022 (Billion!). That’s a world record. A 31-year-old Altadena, CA resident, Castro chose the lump sum of $997.6 million for his payout, and commented that California Public Schools, a beneficiary of the California state lottery, would be “the real winner.”
Image Credit: jsnover/istockphoto.
2. $1.765 Billion (California) in 2023
After 35 consecutive drawings without a top prize winner, a single ticket sold in the tiny mountain town of Fraizer Park, California matched all six numbers for the October 11th drawing. The winning ticket was purchased together by a group of winners represented by Theodorus Struyck. With the Powerball jackpot worth $1.765 billion, the cash value of this historic prize is a whopping $774.1 million!
Image Credit: Gregory Clifford/istockphoto.
3. $1.586 Billion (Tennessee, Florida, California) in 2016
On January 13, 2016, the owners of three winning tickets in Tennessee, California, and Florida shared the $1.58 billion Powerball jackpot.
Each winner, who received over $520 million, had their own incredible winning story. The winner from Mumford, a small town outside of Memphis, said he had no plans to move out of his one-story home despite becoming a multi-millionaire. The winning California couple claimed their ticket 6 months after the initial drawing, creating countless conspiracy theories, including that the unknown winner may have passed away after celebrating too hard. The third and final winning ticket was claimed by a couple from Florida, who told their winning story on morning shows such as The Ellen Degeneres Show and the Today show. “We just wanted a little big piece of the pie,” they said. “ Now we’re real grateful we got the big piece of the pie.”
Image Credit: artursfoto/istockphoto.
4. $1.326 Billion (Oregon) in 2024
A single winning ticket was sold in Portland, Oregon for the April 6, 2024 Powerball drawing worth a stunning $1.326 billion. The winning ticket was claimed by Cheng and Duanpen Saephan and their friend Laiza Chao who all bought 20 tickets together. Chen, who has been fighting cancer for 8 years, said. “I’m happy for my family, they will have a good life.”
Image Credit: Eli Wilson/istockphoto.
5. $1.08 Billion (California) in 2023
Yanira Alvarez came forward as the lucky winner of the $1.08 BILLION dollar Powerball jackpot on July 19, 2023. Her ticket was purchased at the Las Palmitas Mini Market in Downtown LA. She chose the lump sum payout worth $558.1 million.
Image Credit: Luria Flight Photography/istockphoto.
6. $842.2 Million (Michigan) in 2024
This amazing January 1, 2024 windfall marks the first time EVER that a Powerball jackpot has been won on New Year’s Day. And Michigan claims its 6th Powerball winner! The lucky ticket was purchased at the Food Castle in Grand Blanc, MI by three people who call themselves “The Breakfast Club.” The group plays together whenever jackpots reach a huge amount.
Image Credit: JerryB7/istockphoto.
7. $768.4 Million (Wisconsin) in 2019
One and done! This Quick Pick winner in Wisconsin said he didn’t think he would play again after hitting the jackpot, but did say, “I just can’t believe an ordinary guy like me would ever be in this position…The two-dollar ticket you buy is worth the chance to change your life forever. It certainly has changed my life and I look forward to the future.” The winner opted for a one-time lump sum payment of $477 million, which came to $326 million after taxes.
Image Credit: Nicholas Klein/istockphoto.
8. $758.7 Million (Massachusetts) in 2017
On August 23, 2017, a woman from Chicopee, MA won the largest lottery jackpot in the history of the United States, at the time. She discovered she had won while leaving work and quickly told her boss she would not be coming back. Ever. When asked how she was going to celebrate, she simply said, “I’m going to just hide in my bed.” To each her own.
Image Credit: Sean Pavone/istockphoto.
9. $754.6 Million (Washington) in 2023
Becky Bell of Auburn, Washington bought her ticket to riches at her local grocery store. The former Boeing employee said the estimated Powerball jackpot was $747 million – just days after Boeing delivered its final 747 jumbo jet. The number inspired her to play a ticket that ended up being the sole winner.
Image Credit: aiisha5/istockphoto.
10. $731.1 Million (Maryland) in 2021
A group of anonymous winners, who dubbed themselves “The Power Pack” won the largest prize in Maryland Lottery history on January 20, 2021. The player who purchased the winning Quick Pick ticket on behalf of the group said they checked their numbers about a dozen times in disbelief. These lottery lovers have no plans to change their lifestyles after choosing the $546.8 million lump sum cash option (approximately $366.6 million after federal and state taxes). They plan to invest the money to help their families and communities.
Image Credit: gvictoria/istockphoto.
Honorable Powerball Mentions:
$699.9 Million (California) in 2021
Scott Godfrey of Morro Bay, California didn’t realize his Quick Pick had won $699 million until he watched the news on TV. “I saw, actually, a news report on TV where they had a dark image of the store in the morning and I realized I had been there last night and thought about the ticket,” he told KSBY News. He chose to go with the lump sum cash option which will enable him to set up a foundation for charitable giving.
Image Credit: Ralf Geithe/istockphoto.
$687.6 Million (New York and Iowa) in 2018
Two Powerball players in New York and Iowa took home this huge jackpot on October 27, 2018, each winning slightly under $344 million. The winning ticket sold in Redfield, Iowa became the state’s largest lotto prize won to date. The Iowa winner said she planned to buy a new car, go on a long vacation (“or several”), and also establish her own foundation in order to donate to organizations important to her family. The second winner from New York said a rainy day led him into a deli, instead of his usual lottery retailer of choice. When asked about how he chose his winning numbers, the man said, “A family member gave me the numbers over twenty-five years ago and I faithfully play them.” It paid off.
Image Credit: wawritto/istockphoto.
$632.6 Million (California and Wisconsin) in 2022
Tammy and Cliff Webster, the Wisconsin couple whose winning ticket shared the jackpot with a California winner, found out they were millionaires when they watched the morning news. “We always believed that we had a chance to win if we played and this is a dream come true.”
Image Credit: TopMicrobialStock/Istockphoto.
$590.5 Million (Florida) in 2013
On May 18, 2013, an 84-year-old woman took home this large jackpot after buying the winning ticket at a Publix supermarket in Zephyrhills, FL. The woman said, “Another lottery player was kind enough to let me go ahead of them in line to purchase the winning Quick Pick ticket.” Better think twice before being nice? Kidding, kidding.
Image Credit: ablokhin/istockphoto.
$587.5 Million (Arizona and Missouri) in 2012
Two winning tickets split this life-changing jackpot on November 28, 2012. The first winner to claim their ticket was a Missouri mother of four. She opted for the one-time payment of $136.5 million (after taxes) and planned to help her grandchildren, nieces, and nephews pay for college. The second winner, a manager at an Arizona electronics company, said he was extremely grateful and fortunate to win and planned to support charities and causes with his newfound fortune.
Image Credit: Gregory Clifford/Istockphoto.
Where Can You Order Powerball Lottery Tickets?
Lottery tickets are available at gas stations, grocery stores and convenience stores. You may also find lottery ticket machines located in some airports or drug stores. For greater convenience, a number of states allow lottery lovers to order their tickets online from their mobile device or computer.
Image Credit: Coast-to-Coast/istockphoto.
The Lottery and Taxes: What to Expect if You Win
Winning a prize like the biggest Powerball jackpot is an exciting prospect. But don’t forget, Uncle Sam wants his share of your prize. Any lottery prize won over $599.99 is considered income by the IRS. This is taxed at your regular income tax rate until the prize hits $5,000. Prizes of $5,000 and up are automatically taxed at 24% when the prize is received.
Depending on your total prize, you may end up in a higher tax bracket than the mandatory 24% that was originally deducted. For example, if you hit the jackpot and opt to take the lump sum payout, you’d be pushed into the very top federal income tax bracket which has a tax rate of 37%. So after the initial 24% tax deduction, you’ll still owe the difference between the two tax brackets or an additional 13% in taxes.
In addition to federal income taxes, you may also owe state taxes depending on where you purchased the ticket.
It is highly recommended if you do win to consult a certified financial planner, tax attorney or certified public accountant to determine whether taking the lump sum or the annuity option will work best for your circumstances and your taxes. There are some instances where taking the annuity over time can actually lower your taxes and let you keep more of the prize in the long run.
This article originally appeared on Jackpocket.com and was syndicated by MediaFeed.org.
Image Credit: Wpadington/Istockphoto.
More from MediaFeed
How Do Lottery Drawings Actually Work?
Image Credit: fizkes/istockphoto.