Californians have another chance to become a billionaire after no one won the estimated $1.4 billion Powerball jackpot during Wednesday’s night drawing.
The Golden State is home to thousands of lottery retailers, from 7-Eleven stores to gas stations, but only a few are considered to be “lucky.”
As of 2021, the California Lottery considers retailers “lucky” if it meets one or more of the following criteria:
- Sold at least one $100,000 or higher winning ticket.
- Paid out an average of 400 winning tickets per week.
- Paid out an average of $4,000 in winning tickets per week.
Here are some of the “lucky” retailers in California:
- Cigarettes 4 Discount in Northern California: The retailer sold two $1.2 million Powerball tickets on Wednesday.
- Joe’s Service Center in Altadena: This retailer sold the record $2.04 billion Powerball jackpot ticket in November.
- M & A Tobacco in Santa Monica: The retailer sold a $230,000 Powerball ticket in June
- Las Palmitas Mini Market in downtown Los Angeles: The retailer sold a $1.08 billion Powerball ticket in July.
- Park’s Liquor in Hacienda Heights: The retailer sold a $3.9 million Mega Millions ticket in August.
- Rite Aid in Encinitas in San Diego County: This store sold a Powerball ticket worth over $1.12 million in May.
- Vons grocery store in northeast Fresno: The retailer sold a Mega Millions ticket worth over $4.2 million.
Regardless of one’s location, lottery retailers statewide can be found using this website.
If anyone does win the jackpot on Saturday, they can choose between taking a lump cash sum or receiving annuity payments for 30 years.
The California Lottery is required by law to withhold federal taxes, which can vary based on the winner’s resident status. At the very least, the lottery office is required to withhold 24% of the prize money for federal taxes, according to the California Lottery Winner’s Handbook.
While there are no state or local tax withholdings on lottery prize money in California, winners may still be responsible for paying any state and local personal income taxes, which will be based on one’s overall annual income and tax liability, the handbook stated.
In total, about 37% of the prize money will be taken out due to taxes, according to USAMega.com.
The current jackpot has an estimated cash value of $643.7 million, meaning the winner will receive $405,568,045 if they choose the lump sum option.
Should they choose to get the annual payments, they would be paid $29,437,045 for the next 30 years, equivalent to a $883,111,350 payout, according to the lottery finance website.
The default payout method for Powerball, Mega Millions and Super Lotto Plus drawings is the annual payments, according to the winner’s handbook.
Regardless of the path the winner chooses, they will be coming into massive wealth. To help manage it all, lottery officials advise winners to seek professional legal and financial assistance.
Those feeling lucky can purchase a Powerball ticket until 7 p.m. at participating lottery retailers.
