After 44 drawings without a jackpot payout, an Illinois player was the sole winner of the Powerball lottery after the drawing on Wednesday for a hefty jackpot of $1.04 billion.
The new billionaire from Quincy matched all six winning numbers to secure the eighth-largest Powerball jackpot in history. They haven’t come forward yet, but jackpot winners have one year from the date of the drawing to claim the prize.
The winner has two options on how to take the money. They could opt for 30 graduated payments paid out over 29 years. Or they could take a $450.5 million lump-sum payment, which “dwindles” to around $261 million after federal income taxes of 37% and Illinois state income taxes of 4.5%.
“This is an exciting day for Illinois,” Illinois Lottery Director Harold Mays said. “We’re thrilled for the winner and the retailer that sold the winning ticket. Beyond celebrating this incredible win, every Powerball ticket purchased during this jackpot run also helped generate funding for Illinois public schools, demonstrating how the Lottery continues to benefit communities across the state.”
Largest Powerball Win Of The Year
The lucky lottery player wasn’t the only winner. The store that sold the ticket also scores a nice windfall. Hy-Vee Fast & Fresh in Quincy will collect a $500,000 cash bonus.
Since the jackpot run began on May 4, Illinois patrons spent $53.8 million on Powerball tickets. That amounts to $21.5 million going back to the Common School Fund, which supports K–12 public education throughout the state.
The Powerball jackpot is the largest this year. Drawings are Monday, Wednesday, and Saturday evenings at 9:59 p.m. CT.
Tickets cost $2 per play. There’s also the optional Power Play available for an additional $1. It multiplies non-jackpot prizes.
Lottery Spreading Overseas
Powerball jackpots are expected to grow in the coming years after Powerball officials announced last month that gamblers in the UK could now take part. The U.S.-based multi-state lottery is now available in 45 states, the UK, Washington, D.C., Puerto Rico, and the U.S. Virgin Islands.
In other lottery-related news, a gambler in California won a $10 million payout in 2024 right after a nice win at a local casino.
Last year, a man won a $1.2 million payout on Mega Millions after a friend texted him a reminder to buy a ticket.
