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Winning tickets sold in historic $1.5bn US Powerball lottery | |
(about 3 hours later) | |
The draw has taken place in the US for the biggest single single lottery jackpot in history - $1.5bn (£1.04bn). | The draw has taken place in the US for the biggest single single lottery jackpot in history - $1.5bn (£1.04bn). |
There are at least three winning tickets in the Powerball jackpot - sold in Los Angeles, Tennessee and Florida - lottery officials said. | |
The previous draw was the 19th without a grand prize winner, which requires all six numbers to match. | The previous draw was the 19th without a grand prize winner, which requires all six numbers to match. |
Thousands of people earlier queued up outside shops across the US, hoping to defy the odds of 292.2 million to one. | Thousands of people earlier queued up outside shops across the US, hoping to defy the odds of 292.2 million to one. |
Lottery spokesman Alex Traverso told the Associated Press that one of the winning tickets was sold at a 7-Eleven store in Chino Hills, in suburban Los Angeles. | |
He had no information on where in Tennessee and Florida the other winning tickets were purchased, the AP reports. | |
The winners can collect their winnings in annual payments over 29 years, or opt to share a lump-sum payment of $930m. | |
The government would also share in the big prize, however, levying a 39.6% federal income tax on the winners, plus any taxes that the winners' home states may impose. | |
Follow the money | Follow the money |
Is this really the biggest? | Is this really the biggest? |
The current $1.5bn jackpot is a whopping $600m more than previous record holder. A March 2012 drawing of the US lottery Mega Millions had a $656m prize shared by three winners. In Europe, the largest lottery prizes have been lower than in the US but the jackpots are given as a lump sum rather than as an annuity and most countries do not tax the winnings. The biggest European prize was won in July 2011 by a ticketholder in the UK. That person took home a lump sum of $260m (£161.7m). | The current $1.5bn jackpot is a whopping $600m more than previous record holder. A March 2012 drawing of the US lottery Mega Millions had a $656m prize shared by three winners. In Europe, the largest lottery prizes have been lower than in the US but the jackpots are given as a lump sum rather than as an annuity and most countries do not tax the winnings. The biggest European prize was won in July 2011 by a ticketholder in the UK. That person took home a lump sum of $260m (£161.7m). |
Where do Powerball profits go? | Where do Powerball profits go? |
Back to the participating states. For example, New Jersey has sold more than $50m in tickets during this current jackpot craze and lottery officials said about $20m of that would return to the state. More than 15 states use the profits to fund education. However, schools aren't expecting a huge windfall. California officials estimate the lottery money accounts for about 1% of the state's education budget. In Wisconsin, the profits go towards lowering property taxes. | Back to the participating states. For example, New Jersey has sold more than $50m in tickets during this current jackpot craze and lottery officials said about $20m of that would return to the state. More than 15 states use the profits to fund education. However, schools aren't expecting a huge windfall. California officials estimate the lottery money accounts for about 1% of the state's education budget. In Wisconsin, the profits go towards lowering property taxes. |
How did the jackpot get so big? | How did the jackpot get so big? |
No one has won the draw since 4 November. The prize is based on ticket sales so high jackpots usually create a snowball effect until a winning combination is picked. A new format introduced in October makes these massive jackpots more likely, meaning more records could be broken in future. | No one has won the draw since 4 November. The prize is based on ticket sales so high jackpots usually create a snowball effect until a winning combination is picked. A new format introduced in October makes these massive jackpots more likely, meaning more records could be broken in future. |
The states that don't play Powerball | The states that don't play Powerball |
The world's (other) largest lotteries | The world's (other) largest lotteries |
Six of the 50 US states do not participate in the lottery, so some residents drive hours to buy tickets. | |
Alabama, Mississippi and Utah cite religious reasons, while Alaska has said it would not be economical in such a sparsely populated state. | Alabama, Mississippi and Utah cite religious reasons, while Alaska has said it would not be economical in such a sparsely populated state. |
In Hawaii, proposed legislation to start it fails consistently and in Nevada the lottery is rejected because the state's world famous casinos prefer not to have competition. | In Hawaii, proposed legislation to start it fails consistently and in Nevada the lottery is rejected because the state's world famous casinos prefer not to have competition. |