New Jersey Ticket Wins $847 Million Powerball Jackpot

A lottery ticket sold in New Jersey won this week's major Powerball jackpot. The prize was $847 million, recorded as the second-largest prize in the state's lottery history. The jackpot pool is the ninth largest in the lottery's history.

The winner can receive the prize in annual installments over 29 years, or take a lump sum of $363.1 million. Federal tax of 24 percent and New Jersey tax of 8 percent will be withheld. Tax authorities are expected to collect about $116 million.

The winner had not claimed the prize by Friday. New Jersey Lottery Executive Director James A. Carey said it is the second-largest lottery prize in the state's history. Before this jackpot, a $1.04 billion prize was won on August 12. The largest prize in Powerball history was the $2.04 billion won in California in November 2022.

According to the New York Post, the winner is most likely to remain anonymous due to state privacy laws. The ticket was sold at a Wegmans store in Montvale, which will receive a $30,000 bonus for the sale. According to Casino.org, the odds of winning this jackpot are about 1 in 292.2 million. Powerball is currently played in 45 states, Washington D.C., Puerto Rico and the U.S. Virgin Islands. The announcement last month that players in the United Kingdom could also take part raised expectations that jackpots will grow even larger in the coming years.