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☆ The cancer-stricken winner of the $1.3 billion Powerball jackpot in Oregon will get a $422 million lump-sum after taxes and says he'll keep playing the lottery
  + stars: | 2024-04-30 | by ( Matthew Loh | ) www.businessinsider.com   time to read: +3 min
Read previewThe winner of Oregon's $1.3 billion Powerball jackpot is a 46-year-old Laos-born immigrant who opted to take his winnings in a lump-sum payment — meaning he'll get $422 million. AdvertisementThe total amount to be received by Saephan, his wife, and Chao is $422,309,193.97 after taxes, per the Oregon Lottery. Previously, the biggest Oregon jackpot was announced in 2005 and worth $340 million. The Oregon Lottery said ticket sales have since 1985 earned some $15.5 billion that goes toward parks, schools, veteran services, and other state expenses. AdvertisementThe biggest-ever lottery jackpot in the US was $2.05 billion, won by Edwin Castro in California in November 2022.
Persons: —, Cheng Saephan, he's, Saephan, who's, he'd, Laiza Chao, Chao, Edwin Castro Organizations: Service, Business, Oregon Lottery, Powerball Locations: Laos, Portland, Oregon, California, Texas , Arizona, Georgia , New Jersey, Maryland
☆ Powerball jackpot: Oregon trio revealed as winners of $1.3 billion
  + stars: | 2024-04-30 | by ( Kaila Nichols | ) edition.cnn.com   time to read: +1 min
CNN —An Oregon man who says he’s been battling cancer for eight years and received chemotherapy just last week is among three winners of this month’s $1.3 billion Powerball jackpot. They will have a good life,” Cheng Saephan, 46, said Monday at an Oregon Lottery news conference. This win was also the largest Powerball prize won in Oregon. The winning ticket was sold at a Plaid Pantry convenience store in Portland, according to the Oregon Lottery. “She’s driving on the way to work,” Saephan said.
Persons: he’s, Cheng “ Charlie ” Saephan, Duanpen Saephan, Laiza Chao, Chao, “, ” Cheng Saephan, ” Saephan, ”, Saephan Organizations: CNN, Oregon Lottery, Plaid Pantry Locations: An Oregon, Oregon, Portland, Laos, Milwaukie , Oregon
☆ A retiree realized he won $8.4 million after checking his lottery ticket a month after the winning numbers were pulled
  + stars: | 2024-02-28 | by ( Kelsey Vlamis | ) www.businessinsider.com   time to read: +1 min
AdvertisementA 68-year-old retiree from Milwaukie, Oregon, was unknowingly sitting on millions of dollars for almost a month before finally checking his lottery ticket and realizing he had the winning numbers. David Schultze had bought an Oregon's Game Megabucks ticket at a Safeway in Gladstone for a drawing that occurred on January 24, Oregon lottery officials said. However, he didn't get around to checking the ticket until Friday, when he realized he won the jackpot and spent the rest of the weekend in shock. The Safeway store he bought the ticket from also got an $84,000 bonus. AdvertisementSchultze told officials he doesn't buy lottery tickets often, but when the jackpot is "getting up there," he plays just in case.
Persons: David Schultze, didn't, Schultze Organizations: Safeway, lotto Locations: Milwaukie , Oregon, Gladstone, Oregon
☆ Powerball used to have a jackpot limit. Then it exploded
  + stars: | 2022-11-07 | by ( Nathaniel Meyersohn | ) edition.cnn.com   time to read: +4 min
New York CNN Business —The Powerball lottery jackpot is expected to hit $1.9 billion for Monday’s drawing, making it the largest lotto prize ever. But in 1987 when Lotto America, the precursor to Powerball, was introduced, organizers prohibited jackpots of more than $80 million. ”This is a whole new ballgame” Lotto America spokesman Jack Ratigan said at the time. These changes have pushed Powerball jackpots way up. Lotteries are regressive, meaning lower-income groups spend more of their budgets on lottery games than higher-income groups.
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