Powerball Odds
- Powerball Payouts
- Mega Millions Or Powerball Odds
- Powerball Odds Of Winning Chart
- Powerball Odds Explained
- Any Winners In Powerball Last Night
(KOIN) — It would take about 35 million basketballs to fill the Moda Center. The odds of winning either the Mega Millions or Powerball jackpot is about 300 million-to-one. Did you know your odds of winning a prize are the same in every Powerball drawing? You have a 1 in 24.9 chance of winning a prize when the advertised jackpot is $40 million. You still have a 1 in 24.9 chance of winning a prize when the advertised jackpot is $1 billion. Thus, you simply multiply your odds from the first part by 26 to get 292,201,338. Whether you play the lottery or not, I think it is fascinating to understand the reason the odds are what they are. And while your odds of winning the Powerball are only 0.3%, your odds of winning if you don’t buy a ticket are exactly zero. Overall odds of winning are approximately 1 in 24.87 Subject to the published rules of POWERBALL and the Georgia Lottery Corporation, the prize amounts indicated here may be pari-mutuel. All claims, including litigation, if any, must be pursued only against the lottery of the state in which the ticket was purchased. 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.
- Prizes
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.
Power Play
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:
| Match | Base Prize | x2 | x3 | x4 | x5 | x10 |
|---|---|---|---|---|---|---|
| 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 |
| 4 | $100 | $200 | $300 | $400 | $500 | $1,000 |
| 3 + Powerball | $100 | $200 | $300 | $400 | $500 | $1,000 |
| 3 | $7 | $14 | $21 | $28 | $35 | $70 |
| 2 + Powerball | $7 | $14 | $21 | $28 | $35 | $70 |
| 1 + Powerball | $4 | $8 | $12 | $16 | $20 | $40 |
| 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:
| Power Play | Odds |
|---|---|
| 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:
Powerball Payouts
| Power Play | Odds |
|---|---|
| 5x | 1 in 21 |
| 4x | 1 in 14 |
| 3x | 1 in 3.23 |
| 2x | 1 in 1.75 |
Taxes on Prizes
Mega Millions Or Powerball Odds
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.
Claiming Prizes
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
Powerball Odds Of Winning Chart
Powerball Odds Explained
Any Winners In Powerball Last Night
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.