Largest jackpot in history! Someone has just won ₹16,886 crore in lottery
2 min read . Updated: 16 Feb 2023, 07:41 AM IST
PremiumOne in 292.2 million people have a chance of winning this lottery, and the man won it anyway.
At a news conference in California, USA on February 14, the winner of the record-breaking $2.04 billion ( ₹16,886 crore) Powerball prize was announced. According to the California Lottery, Edwin Castro chose to receive the $997.6 million ( ₹8,277 crore) lump sum payment after winning the highest lottery jackpot in history.
One in 292.2 million people have a chance of winning the Powerball jackpot, according to the Multi-State Lottery Association. And, Castro won it anyway.
“That ticket is the sole winner of the largest jackpot in US Lottery history! The ticket matched the numbers 10-33-41-47-56 and the Powerball number 10," the California Lottery said.
Early in November, Castro bought a winning lottery ticket in Altadena, California, matching all six drawn numbers. According to the company, he declined to attend the news conference but gave a statement that was delivered by Carolyn Becker, a spokesman for the lottery.
“As much as I am shocked and ecstatic to have won the Powerball drawing, the real winner is the California Public School system," CNN quoted Castro’s statement.
The victory would result in additional funding for California's public schools totaling $156.3 million ( ₹1,292 crore), which is a record-breaking sum. Depending on daily attendance averages, the award will be divided among the participating schools.
Since its inception in 1985, the California Lottery has donated more than $41 billion to the state's public schools. In Fiscal Year 2021–2022, it contributed around $2 billion to public schools, or about 1% of the state's yearly public school budget.
According to the California Lottery website, in addition to prizes and retail compensation, 95 cents of every dollar spent on a ticket is donated to public schools and institutions. The website also says the subsidies assist schools in maintaining excellent faculty, upgrading facilities, and maintaining programmes. However, they are not a primary source of revenue.
“This funding is largely discretionary, meaning schools can use this for important, yet unfunded instructional programs they would otherwise not afford," the California Lottery said.