While the odds of winning the jackpot are astronomical for both Powerball (1 in 292,201,338) and Mega Millions (1 in 302,575,350), people still love to get in on the fun. And these these multi-state lotteries have led to the largest U.S. lottery jackpots in history.
What is the biggest lottery jackpot ever won?
The largest lottery jackpot ever won was a Powerball jackpot worth $2.04 billion. This grand prize was won by Edwin Castro, a California resident, who purchased his ticket at Joe’s Service Center in Altadena, CA. The drawing was held on November 7, 2022.
Since 2016, Mega Millions and Powerball have had multiple jackpots exceeding $1 billion in the United States. Four of these jackpots were in 2023, and two in 2024. The first in 2024 was $1.13 billion in March for Mega Millions won by a ticket in New Jersey, and the second was a $1.33 billion Powerball ticket with a single winning ticket in Oregon in April.
How the biggest U.S. lottery jackpots compare
The top ten U.S. lottery jackpots have all reached heights over $1 billion. Here’s a breakdown of these winners:
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$2.04 billion
The largest lottery jackpot won to date was a $2.04 billion Powerball drawing. Edwin Castro, as mentioned above, was the lucky winner. The drawing for this game was on November 7, 2022.
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$1.765 billion
The next top prize was another Powerball ticket drawn in October 2023. A single winner in California took home this top prize. The winning ticket was ordered at Midway Market & Liquor in Frazier Park, CA. The winner opted for the cash payout of $774.1 million before taxes.
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$1.59 billion
Again, Powerball claims another top spot (we see a trend here, do you?) with a $1.59 billion prize. The drawing was held on January 13, 2016. The prize was split three ways, with winning tickets ordered in Chino Hills, CA, Munford, TN, and Melbourne Beach, FL.
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$1.58 billion
Next up is a Mega Millions drawing held on August 9, 2023. The winnings were claimed through an LLC called Saltines Holdings in Miami, FL, thereby protecting the winner’s anonymity. They took the cash payout worth $794,248,882.
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$1.54 billion
Mega Millions is picking up speed with our next winner, getting closer to matching the number of top prizes won in Powerball. A single ticket sold in Simpsonville, SC, took home this prize. The drawing date was October 23, 2018. The jackpot was claimed anonymously and took a one-time lump sum of 877,784,124 before taxes.
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$1.35 billion
Mega Millions continues the fun with a single ticket ordered in Lebanon, Maine. The drawing was held on January 13, 2023, and was claimed anonymously. This winner took the lump sum worth $723,564,144 before Uncle Sam’s share.
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$1.34 billion
Mega Millions has another winner. The drawing was held on July 29, 2022, and the winnings were claimed anonymously in Des Plaines, IL.
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$1.33 billion
An Oregon winner claimed this Powerball prize from the April 7, 2024, drawing. The drawing was delayed by several hours because one lottery needed additional time to complete the required pre-lottery procedures.
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$1.13 billion
A New Jersey winner claimed this Mega Millions prize, which was drawn on March 26, 2024. It was the fifth-largest Mega Millions jackpot ever. As of July, the prize still has not been claimed.
10. $1.08 billion
A single ticket in Los Angeles, CA, took home this top prize from the July 19, 2023 Powerball drawing. Yanira Alvarez collected a lump sum payment of $558.1 million before taxes. The lucky ticket was sold at Palmitas Mini Market in downtown Los Angeles.
What factors contribute to record-setting lottery jackpots?
The top contributing factors include changes to game rules over the years, rising interest rates, and a higher volume of player participation (likely fueled by all those $1 billion+ jackpots).
We’ve all heard about the frenzy that occurs as lottery jackpots grow into the opportunity to become a billionaire. As tickets sales grow, so doees the jackpot. And with drawings for Powerball being held three times each week, it’s easy to see how the jackpot grows so quickly.
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