$2 Billion Winning Powerball Ticket Sold In California

California Lottery announced on Twitter the winning ticket of the $2.04 billion Powerball lottery jackpot was sold in Los Angeles County. 

A ticket matching all five numbers (10-33-41-47-56) and the Powerball (10) was sold at Joe’s Service Center in Altadena. 

Monday night’s drawing was delayed because one of the 48 participating lotteries couldn’t “process its sales and play data.” The big reveal of the numbers occurred Tuesday morning. 

Powerball Product Group Chair Drew Svitko said:

“Congratulations, to the lucky ticket holder in California and the millions of other Powerball players who won other prizes in the drawing.

 “On behalf of participating lotteries, I would like to thank our players who joined us on this historic jackpot run. A portion of every Powerball ticket purchased will stay in your state to support your local communities.” 

The winner of the largest-ever jackpot in lotto history can choose between 30 annual payments of $42.9 million after federal taxes or an immediate cash payout of $997.6 million. Here’s how the math works out:

Last week, we outlined (read: here) how the next Powerball jackpot winner should go with a lump sum payout due to a souring macroeconomic backdrop with elevated inflation.

We noted yesterday the lottery is a tax on poor people — as the supersized jackpot preys upon hopes and dreams. 

The odds of winning it all are 1 in 292.2 million. 

Read further at ZeroHedge

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