On Wednesday three players won the Powerball lottery jackpot for a record setting $1.6 billion and will split the huge cash prize between the three of them.
The winning tickets for the drawing were sold in California, Florida, and Tennessee and will see each winner getting more than $28 million before taxes. Under the terms of the game, players can opt for an annuity for the full amount before taxes or take a lower lump sum amount.
The three big winners are going to be subjected to a federal tax rate of 39.1% of their winnings, but the new millionaires are going to luck out as Florida and Tennessee have no personal tax, and California exempts tax on lottery ticket winnings.
The winning numbers drawn on Wednesday were 08, 27, 34, 04, 19, and a Powerball of 10. Even though you didn't win the jackpot, make sure to check your ticket as there are an assortment of smaller prizes that are to be doled out.
Casino Listings will update this story as we learn more about the big winners.