Powerball Plus Payouts
Lottery winners can collect their prize as an annuity or as a lump-sum. Often referred to as a “lottery annuity,” the annuity option provides annual payments over time. A lump-sum payout distributes the full amount of after-tax winnings at once. Powerball and Mega Millions offer winners a single lump sum or 30 annuity payments over 29 years. There are nine different ways to win Powerball prizes in every draw, based on how many numbers you match. You can win $4 just for matching the Powerball, while the jackpot is won by matching all five main numbers plus the Powerball.
* Don't forget to pay taxes on your winnings. Whether it's a small payout or a large one, You have to pay federal and state taxes.
Powerball payout starts from $4, and that can be win by matching one number only. This payout inclusion in Powerball increases the overall chance of winning. Matching one number doesn't win you a lot of money. But it is something that boosts your confidence and also recovers your ticket cost.
Everyone is not going to win a huge amount by matching 5 or 6 numbers in each draw. And that's the reason to promote the lottery They broke down the prizes in 9 tiers. So people can win prizes according to the different types of payouts.
Powerball Payout Chart
This chart will show you how much you will win with different winning number combinations. Minimum payout is $4 if you match one white ball with Power ball or match only Power ball. And the maximum amount you can win in current Powerball is the Jackpot Prize.
| Match Case | Payout | Odds |
|---|---|---|
| 5 + PB | Jackpot | 1 in 292,201,338 |
| 5 | $1 Million | 1 in 11,688,054 |
| 4 + PB | $50K | 1 in 913,129 |
| 4 | $100 | 1 in 36,525 |
| 3 + PB | $100 | 1 in 14,494 |
| 3 | $7 | 1 in 580 |
| 2 + PB | $7 | 1 in 701 |
| 1 + PB | $4 | 1 in 92 |
| Only PB | $4 | 1 in 38 |
When you win the Jackpot then how much you are going to get after the taxes. We have done a full analysis of Powerball Jackpot. You can check it by clicking the button below.
There is a Power Play option in this Lottery. So if you opt this option by paying $1 additional then you can multiply your winning amount by a multiplier. Multiplier can be 2x, 3x, 4x, 5x, or 10x. Following chart shows you the list of power play prizes.
As you win a prize, You will need to pay taxes on your winnings. There are at least two taxes levied on your prize money, Federal tax, and State tax. In your jurisdiction, there might be some local taxes imposed on your payout, and you must have to pay those also.
Cash Payout:- You can opt to get the Jackpot payout in cash at the time of the claim. Approximate (lump sum) cash amount is around 60% of the advertised jackpot.
Annuity Payout:- If you choose this option, then you will get the Jackpot amount in 30 installments. The installment will increase by 5% each year. This option will give you 100% of the advertised jackpot.
Federal Tax:- In the US, Federal tax is dependent on the money you earn or win. Federal tax is variable from 10% to 37%. Here for the Jackpot amount, you always fall on a 37% tax category.
State Tax:- State taxes in the US varies between 0% to 10% and is independent of payout value. You can check state tax for your residing state on Powerball Analysis page.
Your total tax liability is around 40-45% approximately. This liability includes both federal and state tax. Gross payout is not the amount you are going to get in hand. Net payout is what you will get after paying all the payments.
Powerball Plus 2 Numbers Payout
Power Play Prize Chart
| Match | Power Play |
|---|---|
| Match 5 + PB | Jackpot |
| Match 5 | $2 Million |
| Match 4 + PB | $100,000 |
| Match 4 | $200 |
| Match 3 + PB | $200 |
| Match 3 | $14 |
| Match 2 + PB | $14 |
| Match 1 + PB | $8 |
| PB | $8 |
10X Multiplier comes into play when the jackpot prize is less than $150 million. Otherwise it is out of the game. Prize amount of Match 5 main numbers will be multiplied by 2 only even if the multiplier is more than of it.
- 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:
| Power Play | Odds |
|---|---|
| 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.
Claiming Prizes
Ohio Powerball Payout Chart
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.
Powerball Plus Payouts 23 October 2020
Cash vs Annuity
Powerball And Powerball Plus Predictions
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.