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Monday's Powerball jackpot is worth $842.4 million and there is one lucky winner in Michigan.
The winning numbers for the first Powerball drawing of the new year were: 12, 21, 42, 44, 49 and a Powerball of 1.
According to powerball.com, final ticket sales pushed the jackpot to $842.4 million beyond its previous estimate of $810 million. This also marked the first time a Powerball jackpot was won on New Year's Day since the game began in 1992.
“What an incredible start to the new year for Powerball!” said Drew Svitko, Chairman of the Powerball Product Group and Executive Director of the Pennsylvania Lottery. “In addition to our big jackpot winner, there are hundreds of good causes supported by US lotteries that will receive additional funding from this jackpot run. Thank you to our players for making this possible! Happy New Year!”
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Forms for selecting numbers for Powerball are displayed in a store. (Joe Raedle/Getty Images / Getty Images)
According to the Multi-State Lottery Association, the pot was ranked as the fifth-largest Powerball jackpot and 10th-largest U.S. lottery jackpot in history. However, the chances of winning are just as slim as ever at around 1 in 292.2 million.
The winner has the option of receiving an annual prize valued at an estimated $842.4 million or a one-time cash payout estimated at $425.2 million, both taxes deducted.
With the annuity option, players receive an immediate payout followed by 29 annual payments that increase by 5% each year, lottery officials said.
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A customer buys a Powerball lottery ticket at Brew Market & Cafe on October 10, 2023 in Austin, Texas. (Brandon Bell/Getty Images/Getty Images)
The last Powerball jackpot was won on October 11th in California. The ticket holder won a grand prize of $1.765 billion. Since then there have been 34 draws in a row without a winner.
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Here are the 10 biggest Powerball jackpots:
Fox News' Daniella Genovese contributed to this report.