New Billionaire in Oregon: One Winner Hits $1.326 Billion Powerball Jackpot

After days of anticipation, build-up and hundreds of balls spinning to decide the fortune, Powerball once again delivered a record jackpot in the Saturday 6 April draw, with the top prize finally reaching an incredible $1.326 billion (or $1.3 billion in English nomenclature). This is the fourth largest jackpot in the history of the world's most famous lottery, which currently holds its undisputed record at the $2.04 billion prize of $2.04 billion distributed to a single winner in November 2022.

Of the billions of tickets sold for Saturday's draw, only one managed to match the winning combination (22, 27, 44, 52, 69 and the Powerball 9). This single ticket was sold in the US state of Oregon. The identity of the lucky winner is not yet known, although according to Oregon state law, jackpot winners must make their identity public in order to collect the prize, so more details about their identity are likely to be known soon.

Under Oregon law, lottery winners have up to one year from the date of the lottery drawing to claim their prize. Once they do so, they must decide within 60 days whether they want to collect their prize in a lump sum or through an annuity (installment) payment option. Although the lump sum option involves the lottery withholding approximately 40% to 50% of the pre-tax value of the prize, this is usually the option of choice for all big jackpot winners.

Thus, in the event that the winner finally decides to collect the prize in a lump sum, out of the announced prize of USD 1.326 million, he/she will eventually receive an estimated gross prize of USD 621 million before taxes. From this amount, he will have to deduct the 37% federal taxes, plus the 8% state taxes applied by the State of Oregon to lottery winners.

Now, after Saturday's win, the Powerball jackpot will restart at its initial value of $20 million. The next draw will take place this Monday and, as long as there are no winners, it can continue to accumulate after each of the three draws it carries out week by week (Mondays, Wednesdays and Saturdays).

Biggest jackpots in Powerball and US history

The $1.326 billion jackpot drawn last Saturday has entered Powerball history on the pedestal of the 4 biggest jackpots ever drawn by this lottery; but also of the 8 biggest jackpots ever drawn in the history of the United States (and the world). This is the current list of the 8 biggest jackpots in lottery history, including the recent Powerball winner:

• $2.04 billion, Powerball, 8 November 2022 (single winner in California).
• 1.765 billion, Powerball, 11 October 2023 (a single winner in California)
• 1.602 billion, Mega Millions, 8 August 2023 (one winner in Florida)
• 1.586 billion, Powerball, January 13, 2016 (three winners from California, Florida, Tennessee)
• 1.537 billion, Mega Millions, October 23, 2018 (single winner in South Carolina)
• 1.348 billion, Mega Millions, January 13, 2023 (single winner in Maine)
• 1.337 billion, Mega Millions, July 29, 2022 (a single winner in Illinois)
• 1.326 billion, Powerball, April 8, 2024 (single winner in Oregon)