Discover Exactly How Much You Can Win In The Powerball Lottery!

Lottery Win

Have you ever wondered how the Powerball lottery prizes are ordered? What are the dollar values of the lower tier prizes, and how much is it possible to win?

Lottery Prizes

To understand the Powerball lottery a little better, you need to have an understanding of how a basic win is secured in the game. Let’s take a few examples, and let’s start at the very top, as it may be easier to remember the lottery payouts and prize tiers this way. First of all, you probably already know that the Powerball lottery consists of five regular numbers plus a Powerball number. In terms of color, the five regular numbers are drawn from the white balls, and the Powerball number is drawn from the red balls. If all the five numbers drawn from the white balls, plus the number is drawn from the red Powerball, matches the numbers on your ticket exactly – congratulations! You have just become (probably) a few hundred million dollars richer. You are guaranteed 50 million dollars, but the Powerball Grand prize reaches astronomical heights at least a few times each year.

 

Lottery Payout

Understand how price tiers work, and how much you win at each levelThe odds of you (or anyone) winning the Grand prize of the Powerball is one to 292,201,338.00. Or, in other words, one to just about 300 million. Not the best odds available, but then again you’re not betting a fortune either, just a few dollars tops. But the interesting thing is that the second prize is much, much easier to win. In fact, the odds are one to just about one million. 300 times easier! As you probably know, if you win the Grand prize you get the accumulated jackpot. A minimum lottery payout of 40 million dollars…yes, that’s guaranteed, and the historic record for the jackpot is the sky-high sum of 1500 million US dollars. The second tier, which is 300 times easier to win than the Grand Jackpot, is a fixed sum of one million dollars.  This may sound a little low if you compare it with a possible prize of 1500 million dollars, but then again: wouldn’t one million dollars kick your life into a different gear? And keep in mind that if you manage to guess those five white numbers, then this prize could double up to two million dollars if you chose the Power Play option when buying your ticket!

 

Power Play

The next prize after the first two, top prizes come into play if you have four white numbers and one red Powerball number. You’ve then won a lottery payout of 50,000 US dollars or 100,000 in case you marked the box for Power Play. Now, the one thing you need to understand about Power Play is that starting at this tier; you may actually increase your winnings up to a decent 500,000 dollars. This happens if you are playing Power Play, and the Power Play number drawn is 10X. This number is drawn from a set of balls where you find the following options: 10X, 5X, 4X, 3X, and 2X. In this set of Power Play balls, there are one 10X ball, two 5X balls, three 4X balls, 13 3X balls and 24 2X balls. This will give you an idea of the odds involved. Needless to say, it is well worthwhile checking the Power Play box at the time of buying the ticket! OK! With these three major prizes out of the way, the Powerball lottery now distributes hundreds of thousands of smaller prizes. Four white balls give $100 to $1000. Three white balls and on red ball pays the same. Three white balls pay $7 to $70, two whites and one red the same, and the last tier of one white and one red, or one red, pays $4 to $40, depending on your Power Play status, and the Power Plat number that was drawn.

 

Annual Payments

You have a very interesting option called Annual Payments. This is a prize payout option where you choose to receive the whole sum spread out over 30 years. Like a salary! This way it will be much more difficult – quite impossible – to lose your money by spending it too quickly. Many people find the idea of this quite useful, although most say they prefer to receive the whole sum in one payment only. Let’s say you win 500 million dollars. With this system, you will receive around 17,000,000 per year, although the exact lottery rules may vary somewhat, and the payouts may increase more as you go along. At the end of the day, it is up to you to decide how you want your lottery payout, but you need to mark this at the time of buying the ticket. There are many other details worth looking into in the Powerball lottery rules so have a look at the rules pages. For the latest results, click the link.