World record lottery jackpot, one billion US dollars.

According to officials, a single ticket holder from California has won the highest lottery jackpot in history, a prize worth US$ 2.04 billion (about US$ 997.6 million in cash).

The winning ticket was the only one that correctly predicted the Powerball and all five white balls.

The California Lottery reported that the ticket was bought at Joe's Service Center on West Woodbury Road in Altadena, a city in the San Gabriel Valley.

It doesn't seem like anyone has stepped forward as of yet, but at some point, someone will, I'm sure. So how much would the lucky winner have to give to the federal government and the state of California?

Also, there are prizes worth $1 million and $2 million, as well as many other smaller but still highly desirable rewards, so be careful and check your ticket.

10-33-41-47-56 were the winning numbers, and 10 was the Powerball.

The Powerball jackpot, which was already historic for its previous two drawings, is back to a seemingly meagre US$ 20 million for this Wednesday's drawing, further elevating it to the top tier of lotteries.

Federal taxes on all winners will lower the payout by more than one-third, and many states also tax lottery winnings on top of that.

According to the Multi-State Lottery Association in Iowa, which manages the Powerball, since the previous Powerball payout on August 3 there have been 40 draws without a winner, tying the record established last year.

Players must purchase a US$2 ticket and match all five white balls and one red Powerball in order to win the grand prize.

The odds of doing so are 1 in 292m, so it's not unusual for nobody to take home the cash until a rising jackpot draws more players.

As the prize increased over several draws during the previous month, millions of Americans purchased tickets. For Saturday's unclaimed prize of US$ 1.6 billion, there were enough tickets sold to cover 62% of the 292.2 million possible number combinations.

Due to a participating lottery having issues processing ticket purchases, the Powerball draw that was announced on Tuesday was postponed from Monday. Authorities refused to identify the participating lottery, citing a protocol that forbade doing so.

In addition to 45 states, Washington DC, Puerto Rico, and the US Virgin Islands, Powerball is also played there. Before a drawing can take place, "security standards must be satisfied by all 48 participating lotteries," according to the California Lottery.

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