Powerball winning ticket sold in California

Watch Powerball Drawing As Winning Numbers Are In — Congratulations To California Jackpot Winner [Video]

The odds of winning the Powerball jackpot are 1 in 292 million, but on June 10, 2017, a winning ticket for the $447 million jackpot was sold in California. The winner hasn’t come forward yet and most likely won’t until Monday or some time this week. The last winning Powerball jackpot ticket was sold on April 1, 2017, in Arizona for $60 million. The jackpot had continued to roll weekly until it hit $447.8 million, which was the seventh largest jackpot in Powerball history.

The Powerball jackpot was revised due to a spike in ticket sales and the final jackpot was worth more than it was when players bought tickets. Now that a winning ticket has been sold, the jackpot was reset to $40 million for the next game that takes place on Wednesday, June 14, 2017. You may watch a video from the June 10, $447.8 million drawing in the video playlist below.

The Powerball jackpot was revised due to a spike in ticket sales and the final jackpot was worth more than it was when players bought tickets. Now that a winning ticket has been sold, the jackpot was reset to $40 million for the next game that takes place on Wednesday, June 14, 2017. You may watch a video from the June 10, $447.8 million drawing in the video playlist below.

The Powerball winning numbers for June 10, 2017, are as follows: 20-26-32-38-58 the Powerball was 3. The Power Play was 3x.

According to a California Lottery press release, the winning Powerball ticket was sold at the Marietta Liquor & Deli at 27985 Bradley Road in Sun City, California. When a retailer sells a winning Powerball ticket, the retailer also wins. The Marietta Liquor and Deli will receive $1 million for selling the winning ticket. The money comes from a separate fund and doesn’t impact the winner’s earnings.

Powerball jackpot winners have two choices for collecting their winnings. They may take the cash in one lump sum payment or the full winning total (annuity) spread out in payments. Lottery experts have different recommendations over which method is best. New York Times writer Josh Barro reported on the issue and gave reasons why he felt the annuity option was best.

“Second, there are big tax advantages to the annuity. The main one is that taking the annuity is basically like letting the government hold onto part of your prize for a while and invest it for you — and the government does not pay tax on investment income. Of course, once you get the annuity checks, you’ll have to pay income tax on them. But if you take the lump-sum cash prize, you’ll pay tax twice: on the prize when you win it, and on the income you get by investing it.”

Tax breaks are just one reason many financial experts advise against the lump sum and feel the annuity is the safest option. Another reason comes down to human nature.

While many who win the Powerball jackpot go on to live a life of increased comfort, there is something known as the lottery curse. For these people, the money brings more trouble than it does a blessing. Sometimes people are unprepared to handle large amounts of money and do not have the financial or business expertise to manage it. There are many accounts of people who have won lotteries then lost all their money. By taking the annuity option, you have a bit of a safety net. If you make poor financial decisions, you are less likely to lose all of the money as you would if you took a lump sum payment.

Stay tuned as we’ll have updated information on the California Powerball winner as soon as it comes in. Are you going to play Powerball this Wednesday?

Watch Powerball Drawing for June 10, 2017: $447.8 Million Powerball Jackpot Ticket Sold in California

[Featured Image by By Anne Kitzman/Shutterstock]

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