US lottery jackpot hits $1.3 billion
A record prize, but not quite what it seems.
The jackpot for the Powerball lottery in the US has reached $US900 million ($NZ1.28 billion), Recode reports.
If the prize isn't struck this weekend, it will jump to more than $US1 billion ($1.42 billion) for the next draw, Thursday NZ time.
The $US900 million jackpot is a record for Powerball, the $US2-a-ticket lottery that runs across 44 states.
However, the instant near-billionairedom is not quite what it seems.
If a winner is drawn, they will be given a choice between annual payments over the next 30 years or an up-front cash payment of $US558 million.
CNNMoney estimates that after taxes, the winner will be left with a mere ($US348 million). Lotto winnings in NZ are not taxed.
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US lottery jackpot hits $1.3 billion
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