The US Powerball is a well-known American lottery game that is played in 44 states, including the Virgin Islands, District of Columbia, and Puerto Rico. It is run and coordinated by Multi-State Lottery Association (MUSL), which is a non-profit institution created through a consensus reached by the US lotteries.
When you win the Powerball jackpot you have two options: or you can receive a lump sum payment, or you can receive 30 graduating instalments over 30 years. The lump sum will be less than the total amount of the 30 payments.
The minimum Powerball jackpot is $40 million, and the highest Powerball jackpot was more than 1 billion dollar!
The drawings for the Powerball are done on very Saturday and Wednesday of the week during the evening time, which is at around 10.59pm Eastern-Time. From October 7th 2015, the game has been using a 5/69 white balls and 1/26 Powerballs matrix system for picking the numbers.
The end results are odds of 1 in 292,201,338 for a winning jackpot for every play, which amounts to either $2, or $3 depending on one’s Power Play option. The designated time for end of ticket sales is 10:00pm Eastern-Time, but some lotteries can cut off sales a bit earlier.
In most cases, the drawings are done at the Lottery’s Studios located in Tallahassee.
How to Play the basic Powerball game
The lowest amount one can place for a Powerball bet is $2. For each game the player picks 5 numbers from a particular set of 69 white-balls and a single number from 26 red Powerballs. The chosen numbers of red balls can be similar to anyone of the white balls and vice versa.
The drawing order of the 5 white-balls is of no importance and all the lottery tickets numbers are arranged in an ascending order.
Players can pick their preferred numbers or let the terminal vendor automatically and randomly do it for them.
For each drawing, numbers are picked through the use of 2 ball machines, with containing the white balls while the other contains the red Powerballs.
From machine number one, 5 white-balls are drawn and in the second, a red-ball is also drawn. Tickets reflecting at least 3 white balls or 1 red Powerball win.
To make sure that the drawings are completely at random the MUSL has some security measurements. There are four lotto machines, and before each drawing two of the machines will be chosen at random. There are also several sets of balls. Each drawing one set of each colour is randomly chosen out of four different sets. This is done to prevent tempering.
The balls get mixed by a turntable, situated on the bottom portion of the lotto machines. The turntable thrusts the balls all around the chamber.
Once the machine chooses a single ball, its turntable slows down its pace to catch it, pushes into the shaft, and then through the rail and all the way to the display.
How to Play the Power Play Multiplier
For an extra $1 per game, one may set in motion the Power-Play Alternative, which involves the multiplication of lower tier-winnings, with a base prize of $50,000 or lower, by as much as 5 or even 10 in case the jackpot is less than $150 million. Drawing for the Power Play is done aside from the six numbers. The 5 plus 0 prize is doubled automatically reaching $2 million if the Power-Play happens to be activated.
The predicament for players usually comes about when they have to decide whether to maximize their chances at securing the jackpot prize or raise their lower tier winnings. In case one opts to spend asset amount money on their tickets, they will have to let go of one guess in terms of their winning combinations of numbers for every 2 times they activate the Power-Play in regards to each of the bought tickets.
The success associated with Power Play has brought about similar multipliers in a host of other games, some of which include Megaplier, which is available for Mega Millions members aside from California.
Accumulation and Payment options
Winners of the jackpot can get their cash using two means, one being via two installments emanating funds collected from other members and the winning the other from the winning jurisdiction; or through graduated annuity payments give out in 30-yearly instalments. Every annuity payment increases by 5% more than the last in order to compensate for inflation.
The estimated jackpot advertised through media channels represents all of the payments that may be paid out to the jackpot winning ticket holders if the decide to go with the annuity provision. The approximation is arrived at using funds gathered in the jackpot pool that rolls over from previous drawings, projected sales for upcoming ones, and the current market interest rates associated with securities intended to help facilitate the annuity payments.
The approximated jackpot is typically 32.5% (referring to the non-power play) of the revenue of every $1base play sent in by game members in order to accumulate into some a prize pool for funding the jackpot. In case no one claims the jackpot during one set of drawing, the pool is then carried forward to the upcoming one; accumulating up to the point a jackpot winner is found.
The prize pool refers to the funds that are paid to a winner in case they choose the cash option, but in case they prefer to go the annuity route, the current market rates will help to calculate the graduated payment schedule including the initial instalment paid. The remainder of the money in the pool will then be invested so as get the money needed to facilitate the remaining instalments.
Also, if there happens to be several jackpot winners during one drawing session, the prize money pool will be divided equitably among all the winners.
MUSL together with its members take on all of the investment risk associated with the game are therefore obligated and liable by contract to the jackpot winners that they will make all annuity payments. In case no one claims the jackpot winning ticket, the prize pool funds are reversed back to members using an appropriate proportion system. The members also have their own rules when it comes to the regulation of unclaimed prize money.
Whenever the jackpot Powerball is won, the following one is guaranteed to stand at $40 million annuity, but if not, the lowest rollover is set at $10 million.