Powerball has nine prize tiers, and you win by matching the numbers you choose to the winning numbers drawn. You can win a prize by matching the Powerball alone, but you must match all five main numbers plus the Powerball to land the jackpot. Learn all about the different ways to win, the odds of winning and how to claim any prizes.
Odds of Winning
The prize you win depends on how many of the winning numbers you match. The table below shows what you need to do to win in each tier, the odds of doing so, and the prize amounts before tax. Your overall chances of winning any Powerball prize are around 1 in 25.
|Match||Odds of Winning||Prize|
|5 plus Powerball||1 in 292,201,338||Jackpot|
|5||1 in 11,688,054||$1 million|
|4 plus Powerball||1 in 913,130||$50,000|
|4||1 in 36,525||$100.00|
|3 plus Powerball||1 in 14,494||$100.00|
|3||1 in 580||$7.00|
|2 plus Powerball||1 in 701||$7.00|
|1 plus Powerball||1 in 92||$4.00|
|Powerball||1 in 38||$4.00|
|The overall odds of winning are 1 in 25|
The jackpot starts at $40 million and increases every time it is not won. It is regularly worth hundreds of millions of dollars and has even exceeded $1 billion. Visit the Powerball Winners page for a list of the 10 biggest jackpots in the history of the game.
A Power Play multiplier of 2x, 3x, 4x, 5x or 10x is randomly selected before each Powerball draw and if you opt in any prizes you win will be boosted by the value of the multiplier. The only exception is the Match 5 prize, which is doubled to $2 million regardless of which multiplier is drawn. The 10x multiplier is only in play when the advertised jackpot is $150 million or less. The table below shows how prizes increase with each Power Play multiplier:
|5 + Powerball||Jackpot||Jackpot||Jackpot||Jackpot||Jackpot||Jackpot|
|5||$1 million||$2 million||$2 million||$2 million||$2 million||$2 million|
|4 + Powerball||$50,000||$100,000||$150,000||$200,000||$250,000||$500,000|
|3 + Powerball||$100||$200||$300||$400||$500||$1,000|
|2 + Powerball||$7||$14||$21||$28||$35||$70|
|1 + Powerball||$4||$8||$12||$16||$20||$40|
The odds of each Power Play being selected change depending on whether or not the 10x multiplier is in play. Here are the odds when the 10x is active:
|10x||1 in 43|
|5x||1 in 21.5|
|4x||1 in 14.33|
|3x||1 in 3.23|
|2x||1 in 1.79|
Here are the odds on each Power Play ball being drawn when the jackpot exceeds $150 million and the 10x multiplier is not available for selection:
|5x||1 in 21|
|4x||1 in 14|
|3x||1 in 3.23|
|2x||1 in 1.75|
Taxes on Prizes
Prizes of up to $600 are not taxed, but if you win an amount between $600 and $5,000 you will need to report your winnings on a federal income tax form. Any prize over $5,000 will be subject to a federal withholding of at least 24% (up to 37% for jackpot winners).
Additionally, you may be taxed at a state level depending on where you bought your ticket. New York has the highest tax rate of 8.82%, with Maryland just behind on 8.75%. California, Florida, New Hampshire, Puerto Rico, South Dakota, Tennessee, Texas, U.S Virgin Islands, Washington State and Wyoming are the only locations that do not tax lottery winnings.
If you win a prize, you must claim it in the state where you bought your ticket. Each state has its own limit for how long tickets remain valid, ranging from 90 days from the date of the draw in New Mexico to a year in several jurisdictions. You can claim prizes of up to $600 from authorised retailers, but for larger amounts you will need to submit a claim by mail or visit a regional claims center. If you win the jackpot, you should contact your state lottery directly and make arrangements to claim the prize in person.
Cash vs Annuity
If you win the jackpot, you can choose between a lump sum or an annuity. The annuity is the advertised jackpot value and will see you paid in 30 instalments over 29 years, with the first payment made straight away. The annuity shows how much you will receive if the money is invested by the lottery, taking into account all of the profits that the investments would make over the 29-year period. The annuity payments will grow by 5 percent each year to cover inflation and cost of living increases. The cash option is smaller as it contains only the money raised from ticket sales during that game and any preceding rollovers.Powerball prizes and odds of winning. Find out how much you can win on Powerball including PowerPlay at each prize tier.
Powerball lottery odds explained: From tonight’s huge $730M jackpot to 8 much smaller prizes
The odds of hitting the Powerball jackpot are more than 292 million to 1. Powerball.com
Having visions about winning Wednesday’s $730 million Powerball jackpot? Checking those lottery odds might snap you back to reality in a hurry.
The overall odds of winning something after buying a $2 Powerball lottery ticket are roughly 1 in 25 — 24.87 to be nearly exact. If you spent an extra $1 to exercise the Power Play option, you can double, triple, quadruple or on rare occasions quintuple your winnings on non-jackpot winning prizes.
The Powerball jackpot has climbed to $730 million after none of the tickets sold for Saturday’s drawing matched all of the numbers drawn.
If you still want to take a shot, but have never played, here are the rules. Five white balls are drawn out of a drum containing 69 balls. Then one red ball is drawn out of a drum with 26 red balls. The red ball is also known as the Powerball. Here’s a breakdown of odds and prizes.
The Powerball – $4
The odds of your ticket matching only the red Powerball are 38.32 to 1. If you do, you win $4.
1 number plus the Powerball – still $4
Matching one number and the Powerball is considerably more difficult than just having the Powerball (1 in 91.98) but the prize is still a measly $4.
2 numbers plus the Powerball – $7
The odds are worse than 700 to 1 (701.33 to 1 to be exact) of purchasing a ticket containing two numbers and the Powerball. The payout? Just $7.
Powerball lottery prizes
3 numbers – still $7
If your ticket matched three of the five white balls, you still collect a mere $7. The odds of hitting three numbers, but not the Powerball are nearly 580 to 1.
3 numbers plus the Powerball – $100
The good news is that the prize amount has finally reached triple figures – $100. The bad news is that the odds of buying a ticket that matches three numbers plus the Powerball are 14,494.11 to 1.
4 numbers – still $100
A ticket that matches four numbers from the white ball drawn (but not the Powerball) is getting close to winning serious money, but is also worth only $100. It’s about a 1 in 36,525 shot to get even that lucky, though.
4 numbers plus the Powerball – $50,000
The prize climbs all the way to winning $50,000 if you manage to beat the roughly 913,129 to 1 odds and match four numbers plus the Powerball.
Two tickets bought in New Jersey for Saturday’s drawing beat those odds.
5 numbers – $1 million
The life-changing money begins at this prize level. All you have to do to win at least $1 million is match the numbers on the five white balls drawn, but not the Powerball. Good luck overcoming the 11,688,053.52 to 1 odds, though.
5 numbers plus the Powerball – jackpot
The odds of this happening? More than 292 million to 1. But Powerball still offers a better chance than Mega Millions — the chances of buying a jackpot-winning ticket for that game are more than 301 million to 1.
No one across the country has hit the Powerball jackpot since a $94.8 million Powerball ticket was sold in Ballston Spa, New York for the Sept. 16 drawing. Wednesday’s jackpot is potentially the 5th biggest in U.S. lottery history.
One jackpot-winning Powerball ticket was bought in New Jersey last year. Someone who made their lucky purchase a a Piscataway liquor store for the April 8 drawing hit the $190 million jackpot.Powerball lottery odds explained: From tonight’s huge $730M jackpot to 8 much smaller prizes The odds of hitting the Powerball jackpot are more than 292 million to 1. Powerball.com Having ]]>