Is it possible to make history with a lottery win? Well, the Powerball historic jackpot which was a total of $632 million is definitely one for the history books. This was not just any ordinary jackpot prize, it was one that had rolled over after 40 draws. There had been 40 successive draws with no winner and the jackpot prize kept getting bigger and bigger.
Interestingly, the jackpot grew to over six hundred million dollars, making it the largest pot in Powerball history. Finally, there was a winner, or more like, two winners. Two tickets that had matching numbers won the largest Powerball jackpot ever and it was split between both winners. Talk about a historic jackpot!
Although the winning prize was split evenly between the two winners, they did not receive the same amount. It sounds odd, doesn’t it? We will explain how this happened in a minute. Some regions charge taxes on lottery winnings and some don’t. But every state has to hold back some of the winnings for federal taxes.
One of the winners was from Chicago and went home with all the winnings minus the federal taxes. The other winner on the other hand was from Winsconsin, which charges a percentage on lottery winnings over $5,000. As a result, both winners went home with different amounts after taxes were taken out. Still, each winner was a millionaire.
So, if you are entering a lottery, you need to find out about the tax laws in your region. There is no guarantee that you will win the lottery, but you never know unless you try. You could also win a historic jackpot but you will only get a chance to win if you play. Why not play top international lotteries today?