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.
One funny story concerning the Powerball draw came in March, 2005 when 110 players matched all five winning numbers, minus the Powerball (22, 28, 32, 33 and 39). The Powerball lottery officials, who were understandably suspicious, paid out nearly $20 million. It soon came to light that a biscuit company from New York named Wonton Food had printed six numbers to go in their fortune cookies and these numbers really had proved to be lucky, as they were the five Powerball numbers, minus the Powerball! Unfortunately for the 110 players, they were just two off the Powerball number of 42, as the number 40 had been predicted in the fortune cookies.
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.
In the aftermath of the attack on the World Trade Center on September 11, 2001, the legislature in Albany, fearing a monumental loss of revenue, passed legislation the following month, which was signed by Governor George Pataki, which included joining a multi-jurisdictional lottery game. Around the same time, for entirely different reasons, Ohio's governor also gave the green light to joining a multi-jurisdictional game. Both lotteries opted to join The Big Game, which, at the time, was offered in seven states. The added populations of the two new jurisdictions, in turn, led to a larger double matrix. The first machine continued to hold white 52 balls, while 16 gold balls were added in the second, meaning there were 52 numbers to pick from in both parts of each $1 game. On May 15, 2002, the game was renamed The Big Game Mega Millions; shortly after, it became just Mega Millions. Except for the 2010 cross-selling expansion, this was the only time The Big Game or Mega Millions simultaneously added more than one member.
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.
In spite of the huge popularity of this lottery draw game it is still an unknown to many that you can buy Powerball tickets online, whether you are in the US or not. To be clear, this doesn’t even mean that you have to be a citizen of the US either. No citizenship & not based in the US? You can still play powerball online and buy lottery tickets online for a number of different lottery draw games.