Former “Jeopardy!” champion James Holzhauer will likely have to pay $1.2 million in taxes on his $2.462 million winnings amassed during his 32-game winning streak, according to the sports media analytics company The Action Network.

Holzhauer, a professional gambler from Nevada, will have to pay both federal and California state taxes, where the decades-old program is broadcast. California has the dubious distinction of having the nation's highest tax rate at 13.3 percent. When adding the federal and state taxes up, they will take away 47.6 percent of Holzhauer's lump sum, The Action Network reported.

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Holzhauer said he received his check this week with taxes already withheld.

Ken Jennings is still the all-time "Jeopardy" earnings champ, taking home more than $2.5 million in winning 74 straight games in 2004.

Holzhauer did set a new record during his run for most money won in the single game during the show's episode that aired April 17 when he won $131,127.

The Holzhauer run came as longtime "Jeopardy" host Alex Trebek is battling Stage 4 pancreatic cancer.

Trebek, 78, recently shared that he is responding the chemotherapy treatment well. He says his doctors say he's in "near remission" and “they hadn’t seen this kind of positive results in their memory.”

– This story was updated at 8:03 p.m. to correctly identify Trebek's recent cancer diagnosis