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Illinois Ticket Cracks Third-Largest Jackpot Ever

Illinois Ticket Cracks Third-Largest Jackpot Ever

This chart shows the biggest jackpots in lottery drawings with at least one winning ticket.


After the delay of Monday’s drawing, Powerball has announced winning numbers for the $2.04 billion jackpot, which would be the highest payout in lottery history if won. Saturday’s drawing would already have been the biggest win ever at around $1.6 billion, but no winning ticket was sold.

Earlier this year, a single ticket purchased in Chicago suburb Des Plaines won a $1.337 billion Mega Millions jackpot – the third-highest in U.S. history and the second-highest where a single ticket won. 2021 also saw two top jackpots paid out in January, one through Powerball and one through Mega Millions.

The biggest U.S. lottery jackpot to-date is a 2016 Powerball worth $1.586 billion, which was split three ways between Tennessee, California and Florida. In October 2018, the biggest single-ticket win of $1.5 billion went to South Carolina.

The lucky ticket holders might win a billion-dollar prize, but most choose to reduce the sum by several hundred million to receive a one-time payout instead on yearlong installments. Federal taxes will reduce the winnings once more by a 24 percent hold on a lump sum but winners could owe as much as 37 percent of their income in federal taxes if they don’t choose to donate or put their money into a foundation the year of their win. State taxes could eat up another 10 percent of lump sum payments.

Source: Statista

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Mike Mercurio | | 301-575-0332

Michael N. Mercurio is a leading attorney in the field of mergers and acquisitions (M&A). He serves as outside general counsel in buy-side and sell-side M&A, as well as in all business law and real estate law matters. As a strategic partner to firm clients, Mr. Mercurio regularly counsels entrepreneurial individuals and assorted entities on the many challenges, issues, and opportunities companies face throughout the business lifecycle—from start-up to eventual exit.







Offit Kurman, one of the fastest-growing, full-service law firms in the United States, serves dynamic businesses, individuals and families. With 18 offices and more than 250 lawyers who counsel clients across more than 30 areas of practice, Offit Kurman helps maximize and protect business value and personal wealth by providing innovative and entrepreneurial counsel that focuses on clients’ business objectives, interests and goals. The firm is distinguished by the quality, breadth and global reach of its legal services and a unique operational structure that encourages a culture of collaboration. For more information, visit