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Historic Powerball jackpot hits $1 billion. Here are 4 things a winner could afford

A person holds lottery tickets.
Wednesday’s Powerball jackpot is estimated at $1 billion, making it the third-largest payout in the lottery game’s history.
(Jae C. Hong / Associated Press)
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After no ticket won the grand prize in Monday night’s Powerball drawing, the estimated jackpot Wednesday will be $1 billion, lottery officials said.

What could a winner buy with that kind of money?

The valuation for the priciest Los Angeles home through Sotheby’s International Realty — a 10-bedroom, 8,484-square-foot Southern-style mansion on 1.2 acres of Beverly Hills real estate — is $45 million, as of Monday afternoon.

A trip to space can cost anywhere from $450,000 on Virgin Galactic to $28 million, the price of the first ticket beyond Earth by Blue Origin in 2021.

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A share of a minor league baseball team can run from $6 million to more than $50 million, while a 2002 Benetti Classic Felicita 115-foot fiberglass yacht docked in Marina Del Rey totals just under $5 million.

These are all pricey purchases but easily affordable for a winner of Wednesday’s Powerball jackpot, which would be the third-highest payout in the history of the game played in 45 states.

The winning numbers drawn Monday night were: 5, 8, 9, 17 and 41 with the Powerball number of 21. Though there were no jackpot winners, players in five states took home $1 million for matching all five numbers minus the Powerball, and players in three states won $2 million for doing so with an added Power Play multiplier.

No player has won the Powerball jackpot since April 19, marking 38 straight drawings without the top prize.

Players must line up five white ball numbers and the red Powerball to win the grand prize.

A winner of Wednesday’s bonanza would have the option of taking a lump sum payment of $516.8 million, as approximated by Powerball officials, or a 30-year annuity of around $1 billion.

Edwin Castro, who bought the winning ticket, said he was “educated in the California public education system” but otherwise asked for privacy.

Feb. 14, 2023

California winners do not pay state or local taxes, but 24% of winnings will be withheld for federal taxes.

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Californians figured prominently in the two largest victories in Powerball history.

Edwin Castro claimed the largest Powerball prize in history when his November ticket cinched a $2.04-billion prize.

Joseph Chahayed, owner of the Altadena gas station, Joe’s Service Center, that sold him the ticket, also received a $1-million prize.

Castro purchased a $25.5-million Hollywood Hills home in March, a month after claiming his $997.6-million lump sum. He followed that up by buying a $4-million Altadena mansion later that same month.

Previous to Castro’s win, Eastvale residents Marvin and Mae Acosta were part of a then-record-breaking victory in 2016. The couple, along with two additional winners from Tennessee and Florida, took part in a $1.6-billion jackpot.

The Acostas claimed the pre-tax $327.8-million lump-sum option.

Neighbors say that Marvin and Mae Acosta moved into their tidy, new Eastvale home in Riverside County late last year.

July 19, 2016

The winning ticket also netted Balbir Atwal, owner of the Chino Hills 7-Eleven franchise where the ticket was sold, $1 million.

The Acostas kept a low profile after their victory.

Odds of a grand prize victory are estimated at 1 in 292 million, according to Powerball officials.

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There are other prizes besides the jackpot ranging from $1 million for all five white numbers minus the Powerball number to $50,000 for a combination of numbers.

Powerball tickets cost $2 each.

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