^ Jump up to: a b Prizes are uniform in all Mega Millions jurisdictions, with the exception of California (where all prizes, including the jackpot, are pari-mutuel; payouts are based on sales and the number of winners of each prize tier.) All other Mega Millions members' second through ninth prizes are set amounts, although in rare cases they can be reduced.
When Texas joined Mega Millions in 2003, it began offering an option, initially available only to Texas Lottery players, known as the Megaplier, which was similar to Powerball's Power Play. The 11 Mega Millions lotteries without Megaplier on the January 31, 2010 cross-selling date gradually added the multiplier option; by January 2011, all Mega Millions lotteries, except for California, offered the Megaplier. The Texas Lottery owns the trademark to Megaplier.
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.
Powerball lottery draws are held every Wednesday and Saturday at 22h59 Eastern Time and are broadcast live. The results of each lotto draw are not official until they are audited by an accounting firm. There are nine prize tiers on the Powerball Lottery, with approximate prizes ranging from $4 - $1,000,000. Players' tickets for the US Powerball are purchased by our ticket purchasing offices based in Connecticut, USA.
On May 18, 2013, the world's largest one-ticket jackpot, an annuity of approximately $590.5 million ($620 million today), was won by a Powerball ticket sold in Zephyrhills, Florida. On June 5, Florida Lottery officials announced the winner: Gloria C. MacKenzie, 84, who purchased the "quick pick" ticket at a Publix supermarket. MacKenzie chose the cash option of approximately $370.8 million, before Federal withholding; Florida does not have a state income tax.
The original version of Lotto America (stylized as Lotto*America) was a $1-per-play, pick-7-of-40 game, rather than the pick-6 games that had become wildly popular in U.S. lotteries. Matching four numbers won a fixed prize of $5; matching at least five won a parimutuel prize. Matching all seven won the jackpot, whose odds were roughly 1 in 18 million, at the time the longest odds of a U.S. lottery game. The top prize was a 20-year annuity; there was never a cash option, even though a few games did offer one when L*A ended.
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 American Powerball originally started life way back in 1988 and was known as "Lotto America". In 1992 this became the Powerball lottery, with the first official Powerball draw being held on April 19th, 1992. The game has grown and evolved over the years with new States joining (now totalling 44 States) and various changes being applied to the ball and prize structure. 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. In addition, players are now able to purchase their Powerball lotto tickets online.
The applicant must have completed a US High School education or a foreign equivalent of a US High School education. “High School education or its equivalent” means the successful completion of a twelve year course of elementary and secondary education in the United States of America or successful completion in another country of a formal course of elementary and secondary education comparable to completing a 12 year education in the USA. Passage of a high school equivalency examination is not sufficient. It is permissible to have completed one’s education in less than twelve years or greater than twelve years if the course of study completed is equivalent to a US High School education; or
This method specifically has faced criticism recently from a number of lottery organizers such as Camelot, the UK National Lottery organizers who are not happy with companies “selling tickets” (selling bets on outcomes of their established lottery draws) for prices sometimes even cheaper than Camelot themselves sells their tickets. This legal and corporate dispute looks set to continue for the foreseeable future, in the mean time you can continue to buy Powerball tickets online, only now you are aware of the key differences between the two business models.