Business, Entertainment

Winning $731 million Powerball ticket sold in Maryland

BALTIMORE, MD—A massive winning Powerball ticket was sold in Maryland, officials say.

Coney Market in Allegany County sold a jackpot-winning ticket worth $731.1 million for the January 20, 2021 Powerball drawing. The store will receive a $100,000 bonus from the Maryland Lottery for selling the jackpot-winning ticket.

In addition, a second-tier winning ticket with the Power Play option worth $2 million was also sold at AC&T #130 in Hagerstown. The store will receive a $5,000 bonus from the Maryland Lottery for selling the ticket.

The estimated annuity value of $731.1 million is the fourth-largest in Powerball history and the sixth-largest in U.S. lottery history.

It is, by far, the largest prize in the Maryland Lottery’s history, easily outdistancing the $218.6 million share of a $656 million Mega Millions jackpot claimed anonymously by The Three Amigos in the March 30, 2012 drawing. The estimated cash value of the prize is $546 million.

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The jackpot winner has the choice to take the $731.1 million paid in 30 graduated payments over 29 years; or the $546.8 million lump sum payment. The annuity payments increase by 5% each year. All amounts are before taxes and are estimates based on ticket sales and interest rates. Federal withholding tax is 24%. Maryland state withholding tax is 8.95%.

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