The winner of the latest $1.7 billion Powerball boasts the second-biggest jackpot in history — but could take home just 44% of the advertised total.
When it comes to cashing in the golden ticket, lotto winners can choose to receive their money in one of two ways; an immediate lump sum deposit or through 30 annual payments invested in government bonds.
The advertised jackpot is actually a projection of the total received over the 30-year investment, whereas the lump sum is how much money the Powerball actually has on hand to give out.
Read more at https://nypost.com/2023/10/12/1-7-billion-winner-could-get-lowest-lump-sum-in-20-years/
#powerball #jackpot #news
The New York Post is your source for breaking news, news about New York, sports, business, entertainment, opinion, real estate, culture, fashion, and more.
Subscribe to New York Post Sports: https://www.youtube.com/c/nypostsports
Catch the latest news here: https://nypost.com/
Follow The New York Post on:
Twitter – https://twitter.com/nypost
Facebook – https://www.facebook.com/NYPost