With origins in the US going as far back as 1988, the Powerball is an American lottery shared between 45 states and territories. It offers a minimum jackpot amount of $40 million, but has reached as high as half a billion dollars on more than one occasion. To-date it’s record amount has reached $590 million. It’s prize climbs until a winner claims the jackpot.
The Power Play Option was added in 2001 and serves as a multiplier of non-jackpot prizes, which can multiply these prize offerings by as much as 5x. It is an optional offered in addition to the standard ticket and costs $1 per ticket to be added.
Winners of the jackpot are able to claim their reward as a lump sum or annuity and receive 30 regular payments over the following 29 years which increase by 4% each year from the first payment. Those who claim their reward in a lump sum will find their reward significantly smaller as a result of US state and federal taxes.
Play the Powerball lottery alone or with a group of friends and colleagues using the syndicate ticket purchasing option. You can buy tickets in-person as a local or utilize a ticketing service online to buy your entries remotely.
Keep reading to learn more about the Powerball lottery and how it can make you a millionaire overnight.