Two long-time friends in the US, who made a handshake pact nearly 30 years ago that if either of them won the lottery they would share it with the other, have collected their winnings.

Friends Thomas Cook and Joseph Feeney shook hands in 1992, swearing that if either of them won the Powerball jackpot, they would split the winnings, no matter who had bought the ticket.

The two men from the state of Wisconsin made good on that handshake when Mr Cook realised that a Powerball ticket for the draw on 10 June was the $22 Million jackpot winner.

After learning of the win, Mr Cook called Mr Feeney to tell him the news, and Mr Feeney - an avid fisherman - couldn't quite believe it.

"He called me and I said, 'are you jerking my bobber (fishing float)?'" he said.

Upon learning of their windfall, Mr Cook gave his two weeks-notice and retired.

Neither of the two men have indicated any extravagant plans for the winnings, but are looking forward to enjoying more family time, they said in a statement, adding that they look forward to some travelling.

"We can pursue what we feel comfortable with. I can't think of a better way to retire," said Mr Cook.

The Wisconson Lottery congratulated the pair, saying that: "The power of friendship and a handshake has paid off. I'm thrilled for them—their lucky day has arrived."

The two men decided to take a cash option of about $16.7m which means that - after federal and state taxes - each will take home about $5.7m.

The overall odds of winning the Powerball jackpot are 1 in 292,201,338.

In March 2019 another Wisconsin man was named as the winner of a $768m Powerball jackpot.