Powerball player in Arkansas wins $1.817 billion lottery jackpot
Wealth adviser's tip if you win the Powerball jackpot.
Morgan Stanley's George Noceti comments on this week's latest financial news, and has some tips if you end up winning the Powerball this week.
A Powerball player in Arkansas won a $1.817 billion jackpot Wednesday on the heels of the Christmas holiday, ending the lottery game’s three-month stretch without a top-prize winner.
What were the winning numbers?
What we know:
The winning numbers were 04, 25, 31, 52 and 59, with the Powerball number being 19.
The prize, which was the fourth-largest U.S. lottery jackpot in history, followed 46 consecutive drawings in which no one matched all six numbers. The last drawing with a jackpot winner was Sept. 6, when players in Missouri and Texas won 1.787 billion.
Powerball jackpot spikes to $1.7 billion for Christmas Eve drawing
After there was no big winner in last night's drawing, the Powerball jackpot for the upcoming drawing will be one of the largest in lottery history.
The last time someone won a Powerball jackpot on Christmas Eve was in 2011, Powerball said. The company added that the sweepstakes also has been won on Christmas Day four times, most recently in 2013.
Powerball’s odds of 1 in 292.2 million are designed to generate big jackpots, with prizes growing as they roll over when no one wins. Lottery officials note that the odds are far better for the game’s many smaller prizes.
What's the cash value?
Dig deeper:
The estimated $1.7 billion jackpot goes to a winner who opts to receive 30 payments over 29 years through an annuity. However, winners almost always choose the game’s cash option, which for Wednesday night’s drawing would be an estimated $735.3 million, before taxes.
Powerball tickets cost $2, and the game is offered in 45 states plus Washington, D.C., Puerto Rico and the U.S. Virgin Islands.