A mystery California winner had their wildest dreams fulfilled, clinching the US$1.77 billion (S$2.42 billion) Powerball Jackpot on Oct. 11 (U.S. time).

The odds? A staggering 1 in 292.2 million. Compare this to a 1 in 14 million chance of winning Toto in Singapore.

Who's the winner?

According to ABC7, the ticket was sold at a liquor store in Kern County in California. However, the winner's identity is still unknown.

"We won't know who that person is - or maybe it's a group of friends or family members who play together - until they come forward," California Lottery spokesperson Carolyn Becker told ABC7.

Originally advertised as US$1.73 billion (S$2.37 billion), Reuters reported that final ticket sales pushed the jackpot to S$2.42 billion at the time of drawing.

Meanwhile, over 150 players in the U.S. also won between US$50,000 (S$68,440) and US$2 million (S$2.74 million) by getting most of the numbers right, USA Today reported. Some doubled their prize package through Power Play.

This is the second-largest lottery jackpot in U.S. history, Reuters stated. The world record Powerball jackpot is US$2.04 billion (S$2.79 billion) in November 2022, held by sole winner Edwin Castro.

One Powerball ticket costs US$2 (S$2.74). These tickets are sold in 45 states in the U.S., as well as in the District of Columbia, Puerto Rico and the U.S. Virgin Islands.

Not an automatic billionaire

However due to tax rules in the U.S, the winner may not become a billionaire straight away.

Reuters states that the winner may claim their prize by either taking the entire prize in annual payments over 30 years, or taking a smaller lump-sum payment of US$774.1 million (S$1059.89 million).

Forbes also added that the prize would be subject to an initial federal tax of about 24 per cent, and the winner would also owe additional taxes at higher brackets.

In Singapore, according to IRAS, winnings from bets or the lottery are considered windfalls, not income. Winners are therefore not obliged to declare their winnings in their income tax return.

On Oct. 2, one lucky winning ticket-holder in Singapore won the S$13 million Toto prize at a shop along Race Course Road.

Top image from Pixabay.

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