The American Powerball,known as "Lotto America" made it debut way back in 1988, which makes it one of the oldest Lottery games around today. In 1992 they changed the name to the Powerball lottery, with the first official Powerball draw being held on April 19th, 1992. The game has grown and evolved over the years now totalling 44 States and various changes being applied to the ball and prize structure from the game back in 1988. These include a change in the annuity prize payments from 20 yearly payments to 30, and the addition of a cash option for the jackpot as the jackpot is massive averaging around $100 million.
Under the current version's regulations (which began October 28, 2017 with the first drawing October 31) for Mega Millions, the minimum Mega Millions advertised jackpot is $40 million, paid in 30 graduated yearly installments, increasing 5 percent each year (unless the cash option is chosen; see below for differences by lotteries on cash/annuity choice regulations.) The jackpot increases when there is no top-prize winner (see below for information on how the Mega Millions jackpot is funded.) As of December 13, 2017, there has yet to be a jackpot winner under the current Mega Millions format, including wagers for the newly created Just the Jackpot option.
Jump up ^ Lotto, Lucy (June 30, 2011). "Powerball Lottery Changes for 2012". WorldLottery.net. Archived from the original on August 23, 2013. Retrieved September 4, 2013. The first and biggest change to the Powerball Lottery is the introduction of the $40 million base jackpot. Now, when the Powerball Lottery jackpot is reset after a win it will start at $40 million, tempting even more players in for those early draws. Another promise, that is sure to be popular with lottery players, is the introduction of more prizes. From January, Powerball players will have even better odds of winning a prize worth at least $1 million, and it’s that fact that may soften the third and biggest ever change. From January 15, 2012, Powerball Lottery tickets are doubling in price, in what is the biggest change to the Powerball Lottery draw since its launch in 1994.
If you still have doubts as to whether you can buy lottery tickets online, check out the Iraqi national that won $6.4 million in the Oregon State lottery despite not being a) a citizen, b) a resident and c) having never set foot in Oregon (or even the US for that matter!). Click the link on the text to read more about this watershed moment in buying lottery tickets online and the unsuccessful steps taken by the local government to try and block this payment. Despite all the efforts, the lottery winner had acted completely legally and was entitled to his millions.
Drawings for Powerball are held every Wednesday and Saturday evening at 10:59 p.m. Eastern Time. Since October 7, 2015, the game has used a 5/69 (white balls) + 1/26 (Powerballs) matrix from which winning numbers are chosen, resulting in odds of 1 in 292,201,338 of winning a jackpot per play. Each play costs $2, or $3 with the Power Play option. (Originally, Powerball plays cost $1; when PowerPlay began, such games were $2.) The official cutoff for ticket sales is 10:00 p.m. Eastern Time; some lotteries cut off sales earlier. The drawings are usually held at the Florida Lottery’s studio in Tallahassee.
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