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Winner of $1 billion Powerball in California loses cash payment option.

Why Has the Billion-Dollar Lost the Cash Payment Option?

It has been over two months since the Powerball jackpot of $1.08 billion was won, making it the third largest jackpot in the history of the famous US lottery. Surprisingly, the prize still remains unclaimed, leaving many wondering why the winner has not come forward to collect their winnings.

The drawing took place on July 19, and according to the California Lottery report, the winning ticket was sold at Las Palmitas Mini Market located at 1205 Wall Street in downtown Los Angeles. The owner of the store received a generous $1 million bonus from the California Lottery for selling the lucky ticket.

Although a woman appeared at the store the day after the drawing, it is unclear if she is the true winner of the billion-dollar jackpot. However, it seems that the winner may have missed the opportunity to choose the cash payment option.

Upon reviewing the Powerball page, it becomes evident that the prize has not been collected yet, as there is no mention of a winner’s name, which is required by the California Lottery. Additionally, it remains unknown whether the winner opted for the annual payments totaling an estimated $1,080,000,000 over 29 years or the lump sum payment of $558,055,094.83, as seen with previous .

In California, lottery rules state that in order for the winner to receive a cash payment, no more than 60 days should have passed since the drawing. Since it has been over two months since the July 19 game, the winner would only have the option of annual payments left. However, it’s essential to note that the ticket in California is valid for one year.

Regardless of the payment option chosen, federal and state would need to be deducted from the winnings.

The for the July 19 Powerball drawing were 7, 10, 11, 13, 24, and the Powerball number was 24. The surrounding the true owner of the billion-dollar winning ticket remains unsolved, adding to the intrigue of this story. The California Lottery will follow its usual verification process before declaring the official winner.

Here is a of the ten biggest prizes in the history of Powerball:

1. $2.04 billion – November 7, 2022 – CA
2. $1.586 billion – January 13, 2016 – CA, FL, TN
3. $1.08 billion – July 19, 2023 – CA
4. $850 million (estimate) – 27, 2023
5. $768.4 million – March 27, 2019 – Wisconsin
6. $758.7 million – August 23, 2017 – MA
7. $754.6 million – February 6, 2023 – WA
8. $731.1 million – January 20, 2021 – MD
9. $699.8 million – October 4, 2021 – CA
10. $687.8 million – October 27, 2018 – IA, NY

The Powerball jackpot has always been known for creating excitement and changing lives overnight. As the search for the missing billionaire continues, the anticipation and curiosity around this incredible story remain high.

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