Wins Big Prize in Powerball Lottery
A ticket sold in Vermont has won a big prize in the Powerball lottery. On Wednesday, a Vermonter won the Powerball jackpot, worth $366.7 million. The winner can opt to receive the prize in thirty installments over 29 years or opt for a lump sum of $208.5 million. The winning ticket was purchased at the Jolley Short Stop convenience store in Middlebury. The lottery company has not yet released the identity of the lucky ticket holder.
There have been a number of big winners in the Powerball game. The jackpot has been the third largest jackpot in U.S. history. More than 589,000 tickets won cash prizes. One winner, Manuel Franco, from New Berlin, Wisconsin, told reporters that it is like a dream. He had been saving up his winning ticket for a rainy day.
There are different rules regarding the taxation of Powerball winnings. In California, winners are only required to pay federal income tax and no local tax. In Puerto Rico, winners must pay state and local taxes. Unlike California, winners in Florida must make plans to claim their prize in 60 days. On the other hand, those who win in Missouri or Texas must choose between a cash payout or an annuity payout. However, winnings in these states can be converted to cash if the winner wants to.
Vermonter Wins Big Prize in Powerball Lottery
Powerball tickets cost two dollars per play. They are sold in 45 states, the District of Columbia, Puerto Rico, and the U.S. Virgin Islands. More than half of the winnings stay within the jurisdiction where the ticket was purchased. The drawing is live and is broadcast every Monday and Wednesday night from the Florida Lottery draw studio in Tallahassee. The odds of winning the jackpot are 1 in 24.9 million. The jackpot prize is worth $473 million, or $283 million if the winner chooses cash. The winning Powerball numbers are: 11, 36, 61, 68, and 4. Powerball tickets are sold in 45 states, Puerto Rico, and the U.S Virgin Islands.
Despite the large sum of money being won, the winner’s identity may never be revealed. According to state law, big winners are not required to disclose their names and addresses. This is due to Illinois state law which protects the privacy of big winners. The lottery operator also announced that there were 14 million winning tickets with prizes ranging from $2 million to $4 million.
A West Virginia building contractor, Andrew Jackson Whittaker Jr., won $114 million in a Powerball draw in 2002. However, he has spent much of his winnings on cocaine, crack cocaine, and cars. His lawyer has admitted that he failed to disclose his winnings to his family.