A RECORD-BREAKING Powerball jackpot winner has spoken out after he had to give away over half of his $1.7 billion jackpot.
The married Missouri millionaire walked away with about $410.3 million instead of $893.5 million after he handed in his winning ticket because of tax rules.
The jackpot was shared by Missouri and Texas players[/caption]
After coming forward with the slip, the anonymous winner said that he was still trying to get used to his new reality.
He said: “I’m like a homebody. The perfect day is sitting at home doing what I do — relaxing.
“I’m a millionaire, a multimillionaire, and I’m doing laundry last night…
“It’s the best problem I’ve ever had.”
The player was faced with a tough decision when he handed in the ticket.
He was asked whether to receive the full $893.5 million prize over 30 instalments or take it as a one-time lump sum of $410.3 million.
The winner bought the ticket on September 6 at a convenience store in St. Louis, and took a couple of weeks to come forward.
His winning numbers were 11, 23, 44, 61, 62 and the Powerball was 17.
JACKPOT TAX
The Missouri player forced to share his jackpot prize with another player in Texas, who also walked away with $893.5 million before taxes.
Due to tax laws in the respective states, the Texas player took home about $16.4 million more than his Missouri counterpart.
The IRS takes a flat fee of 24% on big lottery winnings, and a further 37% is taken in federal income taxes.
But Missouri charges an additional 4% state tax on all income, including lottery winnings, while Texas doesn’t.
This accounts for a difference of about $16.4 million, but the win still marks Missouri‘s largest lottery prize.
Like Missouri, Texas also allows lottery players who win over $1 million anonymity.
Top lottery winners in the US
Millions dream of winning the lottery and finding fame and fortune. These are the biggest winners in US lottery history.
- Edwin Castro – $2.04 billion, Powerball, Nov. 8, 2022, in California.
- Theodorus Struyck – $1.765 billion, Powerball, Oct. 11, 2023, in California.
- Unknown winner – $1.602 billion, Mega Millions, Aug. 8, 2023, in Florida.
- Marvin and Mae Acosta from Los Angeles, California, John and Lisa Robinson from Munford, Tennessee, and Maureen Smith and David Kaltschmidt from Melbourne Beach, Florida – $1.586 billion, Powerball, Jan. 13, 2016.
- Unknown winner – $1.537 billion, Mega Millions, Oct. 23, 2018, from South Carolina.
- Unknown winner – he sued the mother of his child to keep his identity hidden – $1.348 billion, Mega Millions, Jan. 13, 2023, from Maine.
- Unknown winner – $1.337 billion, Mega Millions, July 29, 2022, from Illinois.
- Cheng and Duanpen Saephan, and Laiza Liem Chao – $1.326 billion, Powerball, April 7, 2024, from Oregon.
- Rosemary Casarotti – $1.22 billion, Mega Millions, December 27 2024, from California
- Unknown winner – $1.13 billion, Mega Millions, March 26, from New Jersey
The law came into effect in 2017 in the state.
BEATING THE ODDS
The odds of winning a prize in the lottery are 1 in 24.9 million, and it goes up even more for a jackpot.
To win a jackpot prize, a player needs to beat odds of 1 in 292.2 million.
Missouri Lottery executive director Lester Elder confirmed that the Missouri Powerball winner beat the previous highest amount of $293.7 million from a November 2012 drawing.
There have been four Powerball jackpots already in 2025.
The most recent one was in California on May 31 and involved a jackpot worth $204.5 million.
Before that, a jackpot was won in Kentucky on April 26 worth $167 million.
A $526.5 million ticket was claimed in California on March 29 and a jackpot worth $328.5 million was taken home in Oregon on January 18.
To win a jackpot prize, a player needs to beat odds of 1 in 292.2 million[/caption]
