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. 
The American Powerball lottery makes use of two machines drawing two sets of numbers. In this way, it is similar to other lotteries like the Mega Millions and EuroMillions. Powerball players need to match five numbers from a possible 69 (these are the white numbers), and one number from a possible 26 (these are the red bonus ‘Powerballs’). If a player matches up all six numbers that have been drawn, they will win the jackpot. Second tier division winners have a $1 million prize to look forward to – one does not even need to match all six numbers in order to become a millionaire with the US Powerball game!
When a player wins the Lotto America jackpot, the winner may choose to receive the prize in annuity payments or may elect to take a lump-sum payment. A player has 60 days from the date they claim their prize to choose the "cash" option or the "annuity" option. If the player selects the "cash" option, the prize will be a single cash payment equal to the amount available to the lottery for the jackpot prize pool. The "cash" prize is estimated to be approximately one-half of the estimated jackpot, depending on current interest rates. If the player chooses an annuity, it will be paid in 30 payments over 29 years, and the annual payment will be increased by a rate as determined by lottery officials. If the cost to purchase the annuity is less than $250,000, the lottery may elect to pay the prize as "cash."
State lotteries have become a significant source of revenue for states, raising $17.6 billion in profits for state budgets in the 2009 fiscal year (FY) with 11 states collecting more revenue from their state lottery than from their state corporate income tax during FY2009. Lottery policies within states can have conflicting goals. Given that instructions are passed down from state legislatures, lottery implementation is often expected to be carried out with reduced advertising and funding while still producing the same amount of revenue. This issue led states to look for loopholes in the system. Massachusetts, for example, had its advertising budget dramatically cut, and therefore started using free-play coupons as money to pay for advertising. This led to an IRS investigation into alleged non-reporting of income because the IRS considered the coupons to have monetary value.
Powerball pays out the largest lottery jackpots in the world. Simple as. The biggest of the bunch arrived in Jan 2016, when three ticket-holders shared a prize fund worth $ 1.58 Billion. For your chance to win a world-beating lotto prize, pick 5 from 69 plus the Powerball and bet on one of our Thursday or Sunday night draws. Highest ever jackpot: $ 1.586 Billion
The Mega Millions is an American lottery game which is played in multiple jurisdictions across the country (and indeed, the world), with the first draw taking place in 2002. It also holds the proud title of giving off the third largest recorded lottery win in American history. In March 2012, a $656 million annuity value (cash value $474 million) jackpot was won and split three ways due to three winning tickets.
Powerball pays out the largest lottery jackpots in the world. Simple as. The biggest of the bunch arrived in Jan 2016, when three ticket-holders shared a prize fund worth $ 1.58 Billion. For your chance to win a world-beating lotto prize, pick 5 from 69 plus the Powerball and bet on one of our Thursday or Sunday night draws. Highest ever jackpot: $ 1.586 Billion
When you win a Mega Millions prize on theLotter you will receive an automated email (or SMS) to let you know you’ve won! Prizes will be transferred directly into your theLotter account after the results are published and soon after the receipt of the prize from the official lottery operator. Please note, the jackpot and second place prizes may need to be collected in person. In these cases, theLotter will pay for your flight to the US! Like other American lottery winnings, Mega Millions prizes are subject to US State and Federal taxes.
Drawings are usually held at the studios of WSB-TV in Atlanta, Georgia.[1][38] The original host was WSB's chief meteorologist, Glenn Burns. Currently, most drawings are emceed by the full-time host of Georgia Lottery drawings, John Crow, with Brian Hooker the main substitute host. For larger jackpots, the drawing sometimes is moved to Times Square, with New York Lottery announcer Yolanda Vega co-hosting.
Jackpot winners have the choice of receiving their prize either in one single lump sum payment, or once a year with the annuity option (30 payments over 29 years). They have 60 days to decide which way they want to be paid. During these 60 days, a player who originally opted for the annuity payment is able to instead take the lump sum payment option. If they do not make a choice either way, after 60 days, the player will automatically receive their prize as an annuity.
The largest Mega Millions jackpot, advertised as $640 million at the time of the drawing (annuitized) or $462 million (cash value), was drawn on March 30, 2012. The initial estimate for that drawing (following the March 27 drawing, which was $363 million annuity) was $476 million (later increased to $500 million and again to $540 million); brisk ticket sales pushed the jackpot values, both annuitized (to $656 million) and the cash option ($474 million) higher. The amount spent on Mega Millions for drawings following its previous jackpot win, on January 24, 2012, was at least $1.5 billion.[13] three jackpot-winning tickets had been confirmed (Illinois, Kansas, and Maryland).[14]
Ohio and New York joined The Big Game consortium on May 15, 2002, when the game was renamed The Big Game Mega Millions, temporarily retaining the old name and the original "gold ball" logo. The "Big Money Ball" became the "Mega Ball." While the game's name was altered, the yellow ball in the new Mega Millions logo continued to read "The Big Game" until February 2003, after which it was replaced with six stars representing the original members of the consortium. The first (The Big Game) Mega Millions drawing was held two days later, on May 17. The Mega Millions trademark is owned by the Illinois Lottery. The first three lotteries to join Mega Millions were Washington (in September 2002), Texas (in 2003) and California (in 2005); California was the last addition to Mega Millions before the cross-sell expansion of 2010. Montana joined Mega Millions on March 1, 2010, the first addition to Mega Millions after the cross-sell expansion.
Before the agreement, the only places that sold both Mega Millions and Powerball tickets were retailers straddling a border; one retailer on the Sharon, Pennsylvania/Masury, Ohio border sold both Mega Millions (via the Ohio Lottery) and Powerball (Pennsylvania) before the agreement and continued to be the only retailer to sell tickets for both lotteries.[12]
Jump up ^ "Powerball - Contact". Multi-State Lottery Association. Archived from the original on August 6, 2015. Retrieved August 2, 2015. Sure, the odds of matching 1 red ball out of 35 are 1 in 35, but we are not giving the odds for matching a red ball. We give the odds for winning a prize for matching one red ball ALONE. If you match the red ball plus at least one white ball, you win some other prize, but not this prize. The odds of matching one red ball ALONE are harder than 1 in 35 because there is some risk that you will also match one or more white ball numbers - and then win a different prize.
Never choose all odd or all even numbers. Such combinations (either all ‘odd’ numbers, or all ‘even’ numbers) make up only 3% of prizes won. Most winning Mega Millions tickets are notable for having three ‘odd’ and two ‘even’ numbers. Alternatively, you could choose three ‘even’ numbers and two ‘odd’ numbers, although your chances to win won’t be quite as good. The mega-ball number can be either an ‘even’ or an ‘odd’ number, and is not related in any way to your main (white) ball choices.
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.

First introduced in 1996, the USA Mega Millions was originally known as ‘The Big Game’ - and looking at its payouts over the years, it’s no surprise as to why. With a starting jackpot of $40 million and a record jackpot of $656 million to date, winning the USA Mega Millions is no joke - although when you hit the big one you’ll be laughing all the way to the bank.
Mega Millions is played in 44 states — but not Alabama, Alaska, Hawaii, Mississippi, Nevada and Utah — the District of Columbia and the U.S. Virgin Islands. The most recent Mega Millions grand prize, a $142 million jackpot, was won May 4 in the Dayton, Ohio, suburb of Moraine; the winner claimed the prize anonymously through a trust, netting a $60.5 million lump sum after taxes. 
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.
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