US records second-largest lottery win as player bags $1.8bn Powerball jackpot

A lottery player in the United States has won a $1.8 billion Powerball jackpot, making it the second-largest lottery prize ever recorded in the country.

Powerball officials confirmed that the winning ticket was sold in the state of Arkansas, with the jackpot won during the Christmas Eve draw. The winning numbers were 4, 25, 31, 52 and 59, while the red Powerball number was 19. Each ticket costs $2, and the odds of winning the jackpot are one in 292.2 million.

The $1.8 billion jackpot comes with a cash option valued at $834.9 million. Winners may also choose an annuity payment plan, which pays out about $1.817 billion over 30 instalments across 29 years, with payments increasing by five percent annually. The prize is subject to federal taxes and, depending on location, state taxes.

The identity of the winner has not been made public.

Powerball Product Group Chair and Iowa Lottery Chief Executive Officer, Matt Strawn, said the size of the jackpot highlights the scale of participation in the game across the country.

Most Powerball jackpot winners typically choose the lump sum cash option rather than the annuity.

The only larger lottery win in US history occurred in 2022, when a Powerball ticket holder won a record $2.04 billion jackpot.

Powerball, which began in 1992, is played in nearly all states across the United States.