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Powerball Lottery
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Quick Facts:
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Country: USA
Top Jackpot: $500 Million
Frequency: twice per week
Numbers: Punter selects five numbers from pool of 1 - 55 and one number from pool of 1 - 42
Tax: Federal withholding tax applies
Draw Time: Wednesday and Saturday 10:59 p.m. (Eastern Time) |
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About:
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Powerball is a large jackpot lotto game. Played every Wednesday and Saturday night at 10:59 p.m. Eastern Time, we draw five white balls out of a drum with 55 balls and one red ball out of a drum with 42 red balls.
The jackpot (won by matching all five white balls in any order and the red PowerBall) is either an annuitized prize paid out over 29 years (30 payments) or a lump sum payment. If the winner chooses the annuity, the annual payment will be increased each year by the percentage set out in the Powerball game rules.
You no longer have to select the payment option at the time of purchase. The tax law has changed to give you up to 60 days until after you claim the prize to decide whether you want cash or the annuity option. The second prize (won by matching five white balls in any order) is $200,000 paid in cash. Any time you match the red PowerBall, you win. The overall odds of winning a prize in the game are better than 1 in 37.
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Winnings:
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There are nine ways to win:
5 + PB (Grand Prize 1 in 146,107,962.00)
5 ($200,000 1 in 3,563,608.83)
4 + PB ($10,000 1 in 584,431.85)
4 ($100 1 in 14,254.44)
3 + PB ($100 1 in 14,254.44)
3 ($7 1 in 290.91)
2 + PB ($7 1 in 290.91)
1 + PB ($4 1 in 126.88)
PB ($3 1 in 68.96)
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Claim your prize:
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Your prize will be credited to your online account automatically. Please be advised to double check your numbers after each draw. |
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Trivia:
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American lottery operated by the Multi-State Lottery Association (MUSL), a consortium of lottery commissions in 29 states, the District of Columbia, and the U.S. Virgin Islands. MUSL is licensed as the monopoly provider of multistate lotteries in these jurisdictions.
Powerball’s predecessor began in 1988 as Lotto America; the game, and name, were officially changed to Powerball on April 19, 1992. Powerball was the brainchild of Ed Stanek of the Iowa State Lottery Commission. The matrix has been changed periodically. On March 4, 2001, an optional multiplier wheel (called "PowerPlay") was added. On November 2, 1997, the annuity period was changed from 20 to 25 years, and the cash option was added. The annuity currently consists of 30 graduated payments (increasing annually) over a period of 29 years. Powerball is drawn Wednesdays and Saturdays.
Powerball’s double matrix will be changed again in October 2008.
The most recent announcement of a nine-figure Powerball jackpot winner ($100 million or higher annuity value) was for a ticket bought in Westover, West Virginia, at a video lottery establishment known as "Paula’s", which was the sole winner of the March 15, 2008 drawing, and which had an approximate annuity value of $276.3 million. The winning group of eight women, all of whom work at a tax collector’s office in Monongalia County, West Virginia, chose to take the cash option of $139 million instead.
Among notable nine-figure wins prior to this was on a ticket that was purchased in Richmond, Indiana; that community had also produced the then-U.S. record $295.7 million (annuity) winning ticket for Powerball (July 29, 1998.) The businesses in Richmond, IN (both of the Speedway convenience-store chain) that have provided two of the largest Powerball winners are situated about three miles (five kilometers) apart.
The MUSL games Hot Lotto and even Wild Card 2 are played the same as Powerball, albeit with smaller jackpots, and in only some of the MUSL jurisdictions, although Hot Lotto is scattered in mostly northern states. |
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