Because the quoted jackpot amount is an annuity of 30 graduated annual payments, its cash value relative to the annuity fluctuates. The actual ratio depends on projected interest rates and other factors. MUSL starts with the cash value, built from a percentage of sales, and then calculates the advertised jackpot amount from that value, based on the average costs of the three best securities bids.
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The Powerball jackpot was last won on 11 August 2018 when a single ticket purchased in Staten Island, New York, matched the winning numbers to claim the entire $245,600,000 ($147,844,558.62 cash) prize. The winner of the jackpot was identified as Nandlall Mangal, a 42-year-old Guyanese immigrant in the US who vowed to continue working even after the amazing Powerball win.
The winner, who has not yet claimed the prize, has 365 days from the draw date to turn in the ticket at one of nine California Lottery District Office locations. The lucky person has two options for payment: A payment plan for about $543 million (before federal taxes) paid out over 29 years or a lump cash sum of $320.5 million (before federal taxes).
The two different methods, both offer you, the player, the same user experience and the only difference is in the back end of how the online lottery ticket provider works. The two methods that online lottery sites use differ in one key way; They either have agents and employees all over the world that physically purchase tickets on behalf of clients or, the more recent phenomenon is when companies essentially take out an insurance policy on every ticket which is tied to the size of the jackpot. This is the difference between you playing the lottery online and betting on the lottery online*. In the latter option you are, de facto, not playing the US Powerball online but rather you are placing a bet with an insurance company on the outcome of the corresponding Powerball draw.