The Biggest Lottery Wins in History

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Lottery wins have created numerous millionaires and billionaires around the world. The biggest lottery jackpot ever won was a staggering $2.04 billion Powerball prize in November 2022 in California. This record-breaking win surpassed the previous record of $1.586 billion Powerball jackpot shared by winners in California, Florida, and Tennessee in 2016.

Another massive lottery win was the $1.537 billion Mega Millions jackpot won by a single ticket in South Carolina in October 2018. European lotteries have also seen enormous wins, with Spain\“s El Gordo lottery distributing billions in prizes annually, though typically divided among many winners.

What makes these wins particularly remarkable is the life-changing impact they have on the winners. Most lottery winners choose to take the lump-sum cash option rather than annuity payments, which means they receive a significantly reduced amount after taxes but get immediate access to their winnings.