Michigan Resident Rakes In A Whopping $842.2M Powerball Prize: Report

In a remarkable start to the New Year, a Powerball ticket sold in Michigan has won the estimated $842.2 million jackpot from Monday night’s draw.

What Happened: The lucky ticket, as reported by CNN Business on Wednesday, matched all six numbers, bagging the fifth-largest Powerball jackpot and the tenth-largest US lottery prize ever. The winning numbers were 12, 21, 42, 44, 49, and Powerball 1.

The winner can choose a lump sum payment of approximately $425.2 million before taxes. The jackpot, which was initially $810 million, grew due to weeks without a grand prize winner.

This marks the first time a Powerball jackpot has been won on New Year’s Day since the game’s inception in 1992. Other big winners included tickets from California, Connecticut, Florida, and Maryland, each bagging $1 million. Two other tickets, sold in Texas and Florida, won $2 million in prizes due to the Power Play feature.

Drew Svitko of Powerball cheered the exciting start to the New Year, noting that the jackpot run will also benefit many good causes supported by U.S. lotteries.

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Why It Matters: This win comes six months after a California resident won a $1.08 billion Powerball jackpot, which was the third-highest in history. Billionaire Mark Cuban advised against taking the lump sum, warning against blowing it all in one spot.

Just before Christmas, the Powerball soared to $572 million, sparking conversations about how winners could invest their earnings, with ideas ranging from buying Cybertrucks to investing in cryptocurrency, stocks, and gold.

Photo Courtesy: Shutterstock.com

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