A mystery gambler in Oregon has matched all six numbers to win a $328 million Powerball jackpot. The winning ticket was purchased somewhere in Beaverton, about eight miles from Portland, but the store remains undisclosed.
Oregon players have one year to claim their prizes, giving this winner plenty of time to decide how to collect the money.
Like previous big winners, the gambler must choose between two options: a lump sum payment or an annuity. The annuity pays the prize in 30 yearly installments that grow by 5% each year.
If the winner chooses the lump sum, the prize’s cash value is $146.4 million—less than half the jackpot amount. This sum is before taxes are deducted.
Federal taxes will take 24%, roughly $30 million. Oregon also charges an 8% state tax on prizes over $5,000, and the winner could face up to 13% if pushed into the highest tax bracket.
Experts remain divided on the best choice. Lawyer Andrew Stoltmann told The U.S. Sun that most winners choose the lump sum but believes this may not be the smartest option. John Loyd from The Wealth Planner in Texas said some winners benefit from smaller, steady payments, though others prefer a lump sum.
The winner now faces a major decision that will impact their financial future for years to come.
