The Powerball winner bought a ticket in Redfield, Iowa: what's going on now?

"This is the biggest prize I've ever won in Iowa, period," said Mary Neubauer, spokesperson for the Iowa Lottery.

One of the two tickets for Powerball's $ 688 million jackpot winners on Saturday came from Redfield, a city of 800 people near Des Moines. The other ticket was sold in New York.

The pair matched numbers 8, 12, 13, 19 and 27 and Powerball 4. The price will be split between the two: an annual payment of $ 343.9 million or a lump sum of $ 198.1 million.

Casey's general store, where the ticket was sold, will receive $ 10,000 from the Iowa lottery, Neubauer said.

The Casey convenience store in Redfield, Iowa, where one of the winning tickets was sold. (Photo: Alex Ivanisevic)

The last grand prize won in Iowa was won by The The Shipping 20, a group of coworkers working at the Quaker Oats plant in Cedar Rapids, which shared a $ 241 million jackpot in June 2012 .

More: Here's where Mega Millions' $ 1 million bill from Iowa was sold

"Redfield is a little outlandish and it's such a small town," said Neubauer. "This shows the true randomness of a game like Powerball."

One of the two tickets matching the winning numbers for the $ 688 million Powerball jackpot on Saturday came from Redfield, Iowa. (Photo: Hillard Grossman / FLORIDA TODAY & # 39; HUI)

What is happening now?

The winner must bring his jackpot ticket to the Iowa Lottery headquarters in Clive, said Neubauer. From there, it is scanned and several security checks are made to confirm its veracity and sold by the Casey's to Redfield.

The person must also answer security questions to confirm their identity.

Then the winner decides to take a lump sum or annual payments.

Lump sum: The price is 198.1 million dollars. The federal tax is 24% and costs $ 47.5 million. State tax retains 5% and takes $ 9.9 million, leaving $ 140.6 million.

annuity: The first year, the winner will receive $ 5.2 million. With interest, it would be increased to $ 21.3 million on the final payment 29 years later. Taxes are withheld each year. The price is $ 343.9 million.

Across the country, most people collect the lump sum, Neubauer said. If the Redfield winner takes the lump sum, it will be transferred directly to a bank account, instead of a written check.

"Most people simply say," I just want all the money up front. "Go ahead, give it to me," said Neubauer.

In Iowa, the identity of the winners also becomes public information, said Neubauer. She said that they wanted to schedule a fun announcement when the winner would show up.

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Although some people may object to their names being made public, cases like Eddie Tipton, a security officer in Iowa who has committed lottery fraud in several states, show why Transparency can serve as security for the lottery, said Neubauer.

After that, most things are left to the winner on how he wants to spend his money. Iowa Lottery does not offer individual safety to the jackpot winner, but Neubauer said she had never heard of an Iowa jackpot winner in danger.

At the present time however, lottery officials are only waiting for the winner to get through their doors.

"It's an exciting time for everyone," Neubauer said.

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