$241 Million Iowa Powerball Winner Laying Low

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There’s a lucky soul in Iowa who should be very happy today. A ticket sold at a grocery store in Cedar Rapids yesterday has matched the Powerball numbers for a jackpot of $241 million, Iowa lottery officials said Thursday.

The ticket, the state’s biggest lottery winner to date, was sold at a Hy-Vee on Edgewood Road in Cedar Rapids, and the person or people holding the ticket have yet to step forward to claim the prize from Wednesday’s drawing, according to a statement from the lottery.

It is the seventh ticket sold in Iowa to win the Powerball jackpot. The most recent was a Fort Dodge couple who claimed a $200.8 million jackpot in October 2006.

The latest winning ticket matches the numbers of 7, 10, 14, 33 and 57, plus the Powerball number of 18.

Iowa Lottery Chief Executive Officer Terry Rich says lottery officials encourage jackpot winners to consult financial or legal advisers before claiming such a big prize, and he pointed out that the identity of winners is public information.

“This truly is a life-changing amount of money and we want our winners to have the information they’ll need as they make their decisions,” he said in the statement. “Whoever has the winning ticket should sign it immediately if they haven’t already done so for safe keeping.” If you happen to be holding the winning ticket in your hands right now, forget about calling everyone you know and first call 515-725-7900 and let the Iowa Lottery know you’re the luckiest person in America and demand your money nicely. Then call friends and family and let them know you’re retiring.

Rich also said the winner should keep the ticket in a secure place until presenting it to claim the jackpot.

If the ticket holder chooses to take a lump sum payout, the total will be $160.3 million before taxes. After taxes, a little more than $112 million.

If the winner chooses an annuity option, payments over 30 years will total $241 million before taxes.

The amount is the 15th largest Powerball jackpot won to date.

Lottery officials planned a late morning news conference at the Hy-Vee store where the ticket was sold.

Hy-Vee gets a $10,000 bonus from the Iowa Lottery for selling the winning ticket.

Many thanks to Bloomberg Business Week for their contributions to this story.

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