LOTTERY player expects potentially big win as Powerball jackpot hits $875 million.
There were no winners announced for Wednesday night’s drawing, which means someone could rake in a lot of cash tonight.
The last Powerball jackpot win was on April 19th, but no one has picked the magic numbers to win the entire jackpot since.
According to Powerball, the chance of winning the jackpot is 1 in 292.2 million.
If someone is the winner in Saturday’s drawing, they have the opportunity to receive the grand total of $875 million in 30 annual installments throughout the year29 years, according to Forbes.
You’ll also have the opportunity to take home a one-time payment of $441.9 million.
If they choose the latter, the prize money will be cut even further by withholding federal taxes.
Due to the mandatory 24 percent withholding tax threshold, the lottery winner would only take home $335.8 million.
Only a select few states do not tax lottery winnings, including New Hampshire, California, Florida, Texas and South Dakota.
In November, Californian Edwin Castro became the biggest lottery winner after buying the $2 billion lottery ticket.
Castro claimed his winnings in February and chose to take home a lump sum payment of $997.6 million after taxes.
He’s since indulged in several luxuries, including a $25 million home near Ariana Grande and Jimmy Kimmel.
Since Castro has won millions, he has stayed out of the limelight. However, he made headlines in May 2023 when it was revealed he was being served legal papers at his $25 million home.
The legal filing came from a lawsuit alleging that Carsto stole the winning Powerball ticket.
The lawsuit was first filed in Alhambra Superior in Februaryby Jose Rivera, who claimed he bought the ticket the day before the November 8, 2022 drawing at Joe’s Service Center in Altadena.
On May 26, Castro’s lawyer, David De Paoli, filed a motion to dismiss, arguing that Rivera lied and wrongly served the papers.
Instead of serving the papers to Castro, Paoli claimed that they were served to his father, Edwin H. Castro.
When approached by The US Sun, Castro declined to comment on the lawsuit or his historic victory.
When contacted by The US Sun about the mix-up, Carolyn Becker of the California Lottery Commission said, “California Lottery remains confident that Edwin Castro is the legitimate winner of the $2.4 billion Powerball prize draw in the United States November 2022 is.”
The case is still ongoing, but police are only investigating it as a petty theft because the lottery ticket was only $10.