When the Powerball jackpot is won, the next jackpot is guaranteed to be $40 million (annuity). If a jackpot is not won, the minimum rollover is $10 million. The cash in the jackpot pool is guaranteed to be the current value of the annuity. If revenue from ticket sales falls below expectations, game members must contribute additional funds to the jackpot pool to cover the shortage; the most likely scenario where this can occur is if the jackpot is won in consecutive drawings.
A Powerball jackpot winner may choose to receive their prize in 30 payments over 29 years or a lump-sum payment. The cash value option, in general, is the amount of money required to be in the jackpot prize pool, on the day of the drawing, to fund the estimated jackpot annuity prize. The advertised jackpot annuity and cash value are estimates until ticket sales are final, and for the annuity, until the Multi-State Lottery Association takes bids on the purchase of securities.
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Power Play, when it began in 2001, was drawn with a special wheel. In 2006 and 2007, MUSL replaced one of the 5× spaces on the Power Play wheel with a 10×. During each month-long promotion, MUSL guaranteed that there would be at least one drawing with a 10× multiplier. The promotion returned in 2008; the ball landed in the 10× space twice. After being absent in 2009, the 10× multiplier returned in May 2010 (after the Power Play drawing was changed to RNG.) The promotion was extended for the only time, as the 10× multiplier was not drawn until June 12. The second prize 5× guarantee continued; the 10× applied to all non-jackpot prizes, as in previous promotions.
Powerball numbers are drawn from two sets of numbers, so the odds of winning a prize are calculated by combining the odds for both sets of numbers for all prize levels. The odds for matching just the Powerball are calculated by combining the odds of selecting the Powerball and the odds of not selecting any of the five numbers from the first set of numbers drawn.
The odds of winning the Mega Millions jackpot are 1 in 302.6 million, making them the highest odds of any other state or multi-state lottery game ever played in the United States. However, this means the jackpot can grow to surpass the billion-dollar mark with relative ease. The overall odds of winning any prize are 1 in 24, which is slightly better than that of Powerball, which are 1 in 24.87.
On Jan 31, 2010, the date of the cross-sell expansion, Mega Millions and MUSL each added lotteries; eight Powerball members added Mega Millions by May. The Montana Lottery joined Mega Millions on March 1. Nebraska added Mega Millions on March 20; Oregon followed on March 28; Arizona joined Mega Millions on April 18; Maine added Mega Millions on May 9; Colorado and South Dakota joined Mega Millions on May 16. The U.S. Virgin Islands joined Mega Millions in Oct 2010.
Nowadays there is a plethora of websites to choose from and new companies offer online lottery ticket service every day. Due to the nature of this industry and the fact that newcomers are popping up all over, it is advisable to be diligent and check out the lottery ticket provider carefully before you decide to buy Powerball tickets online with them. This is easily done with a quick google search and an investment of 5 minutes on your part. Trust us, the five minutes is worth it to be sure that when/if you play Powerball online and win, you actually receive your jackpot winnings.