Powerball player in California nets $447.8 MILLION and takes home the 10th biggest lotto jackpot in US history

The lottery jackpot was estimated at $435 million before the win, but came in at $447.8 million - though if the winner chooses cash over an annuity they will receive $279.1 millionA Powerball player in California will take home the entire $447.8 million jackpot after matching all six numbers on their ticket in Saturday's drawing, lottery officials said.
The exact location of the winner isn't immediately known, but the lucky soul who picked 20-26-32-38-58, and Powerball 3, was based in the Golden State.

They will take home the tenth biggest lottery win in US history, officials said.
The Powerball jackpot had been accumulating since April 1.
It had been estimated a $435 million before the
drawing.
The jackpot figures are based on the winner choosing to take an annuity that pays out each year for 29 years.
If they choose to take a cash prize, they walk away with $279.1 million. 
Of course, they won't get all the cash from that, regardless: Federal and state taxes will take a chunk out of the winnings.
For prizes of more than $5,000.01, there is a Federal Withholding Tax of 25 per cent, which means losing $108.75 million on the annuity prize and $69.8 million on the lump sum, according to US Mega.
A California Powerball player will take home $447.8 million after choosing  20-26-32-38-58, and Powerball 3 in Saturday night's lottery, officials saidHowever, there's no state tax on the lottery in California, so they'll get to keep the rest - assuming they don't owe money for back taxes, child support, loan payments and similar expenses.
Saturday's jackpot means that six of the ten largest lottery wins in US history have occurred since January 2016.
That's when the amount of numbers to choose from increased.
The odds now of landing all five numbers plus the Powerball are now 1 in 292 million, or 0.0000003, compared with the previous 1 in 175 million.
An increased range of numbers means that players are also less likely to choose the same combination as each other, meaning fewer split payouts. 
The largest-ever jackpot came in January 2016, for $1.6 billion. 
Powerball is played in 44 states, plus Washington, DC; Puerto Rico and the US Virgin Islands.

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