Powerball delivers Christmas magic with $1.8bn jackpot won

• The longest streak of Powerball draws ended up on Tuesday, with a winner scooping up the near-$2bn grand prize
• The jackpot of $1.817bn can be claimed either as an annuity or as a lump sum
• No winner has stepped forward so far, as the money would need to be handled carefully

The Powerball was on track to break the $2bn threshold, but a Wednesday night win clipped the hopes for an ever-higher payout and awarded one lucky ticket holder in Arkansas the coveted jackpot.

Longest streak of draws in Powerball’s history ends with $1.8bn jackpot

The grand prize had reached $1.817bn by the time of the draw and is a true Christmas miracle, even if it came a few days earlier. The winning numbers were 4, 25, 31, 52, and 59, with a Red Powerball 19 and a 2x Multiplier.

As good fortune would have it, the prize was won by a single ticket, meaning that the prize would not have to be divvied up. Commenting on the win, Powerball Product Group Chair and Iowa Lottery CEO Matt Strawn congratulated the still anonymous person on their win:

"Congratulations to the newest Powerball jackpot winner! This is a truly extraordinary, life-changing prize. We also want to thank all the players who joined in this jackpot streak. Every ticket purchased helps support public programs and services across the country."

The winner now has a dilemma to solve - do they opt for the annuity option, guaranteeing themselves a steady income over the next 29 years, or do they go for the cash-out option, which reduces the total prize by a hefty $1bn, down to $834.9m instead?

Do you claim the whole jackpot or opt for the annuity?

Most lottery winners opt for the lump sum, fearing that annuity is not ideal as it limits their prize and risks never getting the full amount. However, managing such a large amount of money requires financial expertise that may make some people less likely to immediately claim the ticket.

In rare cases, the jackpot may go unclaimed if the person who won misplaced the ticket or forgot they played. However, when the jackpot is this high, most people are on their tiptoes about their tickets.

The drawing streak during this Powerball cycle hit 47 - the most drawings for the jackpot to drop in the game’s history, but not the highest Powerball jackpot on record. This would be the $2.04bn won in November 2022.

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