The $1.08 billion grand prize is the third largest in the game's history since it started in 1992. Before Wednesday night's drawing, no one had matched the five white balls and red Powerball in the past 38 chances to win. The jackpot had been swelling since April 19, when a ticket bought in Ohio won a $252.6 million jackpot.
In November, a lucky man at Joe's Service Center in Altadena correctly guessed the numbers accompanying the world-record Powerball jackpot of $2.04 billion. It was the second time in eight months that a $1 billion Powerball ticket was sold in Los Angeles County, CBS News Los Angeles points out. Wednesday's Powerball drawing had more than 4.8 million winning tickets overall and lower-tier cash prizes worth $85.1 million.
Experts told CBS MoneyWatch that people who suddenly come into a lot of money should go through a 'cooling-off period' and not rush to make big financial decisions.
