Lucky player in Washington wins $747 million Powerball...
$5,000 Welcome Bonus
A lucky winner in Washington state overcame steep odds to win an eye-watering estimated $747 million Powerball jackpot.
The ticket matched all six numbers on Monday night to give one lucky person a staggering return of their $2 ticket purchase.
No one has won the jackpot since November 2022, allowing the prize to skyrocket to the mega grand total.
The lottery winner, and now multi-millionaire, beat Powerball's abysmal odds of 1 in 292.2 million to take the top prize.
The winning numbers were 05, 11, 22, 23, 69, and the Powerball 07.
Lottery officials confirmed in a statement early Tuesday that a single ticket matched all six numbers and was worth $754.6 million.
The full jackpot is for a winner opting for an annuity distributed in one immediate but partial payout followed by additional payments over 29 years that increase by 5 percent annually.
But the winner also has the option of a one-time cash payment of $407.2 million.
Both prizes available are the amounts before taxes, Powerball said.
Following the substantial payout, the lottery game's website shows the jackpot for the next drawing on Thursday has dropped to $20 million.
Monday night's win was the first Powerball jackpot win since November 19, 2022. That winless streak allowed the prize to grow larger and larger until it stood as the ninth-largest in U.S. history.
Higher interest rates have allowed annuity payments to increase compared with earlier jackpots when rates were lower. Most winners prefer the immediate cash prize.
The game's abysmal odds of 1 in 292.2 million are designed to build big prizes drawing more players.
In October 2015, lottery officials approved changes to Powerball that significantly lengthened the odds from one in 175.2 million to one in 292.2 million.
Similar changes were made to Mega Millions in the fall of 2017. Odds were worsened from one in 258.9 million to one in 302.6 million.
The idea was that by making jackpots less common, ticket revenue could build up week after week, creating giant prizes that would attract the attention of players and pull more in.
That strategy certainly has worked in recent years, with two billion dollar grand prizes in the past few months.
An unknown person in Maine won a $1.35 billion Mega Millions prize just weeks ago, overcoming odds of 1 in 302.6 million.
In November, a player in California hit a record $2.04 billion Powerball jackpot. However, both of those prizes are yet to be claimed.
Powerball is played in 45 states, as well as Washington, D.C., Puerto Rico, and the US Virgin Islands.
