Powerball jackpot: Single ticket bought in Illinois wins $1 billion - Here’s how much the winner could take home after taxes

A single Powerball ticket has snagged an astounding jackpot estimated at $1.04 billion, marking it as the eighth-largest prize in the game's history. The lucky winner faces the choice of a lump-sum cash option or a generous 30-year annuity payout. Powerball drawings are held three times a week, with the next exhilarating draw scheduled for August 15.

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