We have an exciting announcement! After 44 consecutive lottery draws without a winner, a single ticket purchased from the Illinois Lottery matched all five white numbers and the red Powerball in the drawing held on Wednesday (August 12).
The winning numbers drawn were 4, 26, 66, 67, 69, along with the red Powerball number 9. The Power Play multiplier came out to be 2.
The holder of this winning ticket can choose to receive the jackpot as an annuity totaling $1.04 billion, paid out in 30 graduated installments over 29 years, with each annual payment increasing by 5%. Alternatively, the winner might opt for a lump-sum payment of $450.5 million.
“For over three decades, Powerball has demonstrated that a winning ticket can be purchased anywhere the game is available, allowing every $2 ticket the opportunity to change not only a winner’s life but also future generations. As more players participate across various regions, larger jackpots and heightened excitement for the game are continually generated,” remarked Stephen Durrell, chair of the Powerball Product Group and executive director of the Kansas Lottery.
As Powerball expands its reach to the United Kingdom, the potential for larger jackpots is increasing. Sales for tickets overseas commenced with the drawing on July 22.
$1 Billion – A New Perspective
Many major lottery winners prefer the lump-sum cash option, as financial experts suggest that strategic investments can generally yield returns that surpass the annual 5% increase offered through annuity payouts.
If the Illinois winner opts for cash, they would face a 37% reduction due to federal taxation. Lottery winnings are considered taxable income by the U.S. government, placing them in the highest tax bracket.
After accounting for the federal tax slice of $166.6 million, the jackpot would be approximately $283.85 million. Illinois also imposes a personal income tax on lottery winnings, which would further reduce the total by $22.3 million, resulting in a 4.5% levy.
As a result, the cash payout for the $1.04 billion Powerball jackpot would be approximately $261.5 million after federal and state taxes.
This advertised jackpot of $1.04 billion currently ranks as the eighth-largest in Powerball history, with just seven other jackpots exceeding $1 billion, and the record for the game surpassing $2 billion only once.
Top 10 Powerball Jackpots
- $2.04 Billion – November 7, 2022 – CA
- $1.817 Billion – December 24, 2025 – AR
- $1.787 Billion – September 6, 2025 – MO, TX
- $1.765 Billion – October 11, 2023 – CA
- $1.586 Billion – January 13, 2016 – CA, FL, TN
- $1.326 Billion – April 6, 2024 – OR
- $1.08 Billion – July 19, 2023 – CA
- $1.040 Billion – August 12, 2026 – IL
- $842.4 Million – January 1, 2024 – MI
- $768.4 Million – March 27, 2019 – WI