BAKERSFIELD, Calif. (KGET) — It has been seven days since a historic Powerball jackpot-winning ticket was determined to have been sold in Kern County, but no one has claimed the prize.
Lottery officials said Thursday, Oct. 19 that no one has stepped forward to claim having won the $1.765 Powerball jackpot from the Oct. 11 drawing.
The winning ticket was sold in Frazier Park at Midway Market & Liquor on Frazier Mountain Park Road. The jackpot was the second largest lottery prize in U.S. history.
Lottery officials said it may take weeks to determine a winner even after someone comes forward publicly.
The odds of winning a Powerball jackpot is 1 in 292,201,338, according to the Powerball website.
One decision an eventual winner would have to make is whether or not to take a lump sum payment or take annuity payments. The lump sum cash option for the Powerball prize is about $774 million. If a winner decides to take annuity payments, they would receive one payment of more than $58.8 million followed by 29 annual payments that increase 5% each year eventually adding up to $1.765 billion.
While the state of California does not take taxes for lottery winnings, the IRS takes 24% from a cash option of $774 million.
