Powerball is one of the most popular lottery games in the United States, offering some of the biggest jackpot prizes available. The game is coordinated by the Multi-State Lottery Association and played in 45 states, the District of Columbia, Puerto Rico and the U.S. Virgin Islands. Here is an overview of how the Powerball game works and what the payouts are for the different prize levels.
How the Powerball Game Works
Each Powerball play costs $2. To play, a player selects five main numbers between 1 and 69 and one Powerball number between 1 and 26. The numbers are selected on a play slip or through auto pick. Players can multiply non-jackpot prizes by choosing the Power Play option for an additional $1 per play. The Power Play multiplies non-jackpot prize winnings by 2x, 3x, 4x, 5x or 10x whenever the jackpot is $150 million or less.
Powerball draws are held every Wednesday and Saturday at 10:59 p.m. ET. To win the jackpot, players must match all five main numbers and the Powerball number. The minimum starting jackpot is $40 million, and it continues growing until there is a winner. Jackpots have climbed into the billions in recent years. Secondary prizes are also available by matching some of the numbers.
Powerball Payouts
Here is an overview of the Powerball payouts at each prize level:
Match 5 Main Numbers + Powerball
Hitting the jackpot by matching all 5 main numbers and the Powerball number wins the entire jackpot amount. The jackpot starts at $40 million and rolls over each draw until there is a winner. Jackpots today frequently climb into the hundreds of millions.
Match 5 Main Numbers
Matching 5 main numbers wins $1 million. However, players can multiply this amount 2x, 3x, 4x, 5x or 10x when they purchase the Power Play option for an extra $1 per play. For example, if the 5X multiplier is selected, matching 5 main numbers would win $5 million instead of $1 million.
Match 4 Main Numbers + Powerball
Matching 4 out of 5 main numbers plus the Powerball wins $50,000. This can be multiplied to up to $500,000 with the Power Play.
Match 4 Main Numbers
Matching 4 out of 5 main numbers wins $100. This prize increases to up to $1,000 with the Power Play add-on.
Match 3 Main Numbers + Powerball
Matching 3 of the main numbers plus the Powerball number wins $100. This can be multiplied to up to $1,000 with Power Play.
Match 3 Main Numbers
Matching 3 out of 5 main numbers wins $7. This increases to up to $70 with Power Play.
Match 2 Main Numbers + Powerball
Matching 2 main numbers and the Powerball wins $7. This prize increases to up to $70 with Power Play.
Match 1 Main Number + Powerball
Matching one main number and the Powerball wins $4. This can increase to up to $40 with the Power Play option.
Match Powerball Only
Matching only the Powerball number wins $4. With Power Play, this increases to up to $40.
Odds of Winning Powerball
The odds of winning a Powerball prize depend on how many numbers are matched. The approximate overall odds of winning any prize are 1 in 24.9. Here are the odds for each prize tier:
| Prize Level | Odds of Winning |
|---|---|
| Match 5 Main + Powerball | 1 in 292.2 million |
| Match 5 Main Numbers | 1 in 11.7 million |
| Match 4 Main + Powerball | 1 in 913,000 |
| Match 4 Main Numbers | 1 in 36,500 |
| Match 3 Main + Powerball | 1 in 14,500 |
| Match 3 Main Numbers | 1 in 580 |
| Match 2 Main + Powerball | 1 in 701 |
| Match 1 Main + Powerball | 1 in 91 |
| Match Powerball | 1 in 38 |
As you can see, the odds of winning the jackpot are very small at 1 in 292 million. However, the overall odds of taking home a prize of any amount are a more reasonable 1 in 24. Buying multiple tickets can improve a player’s chances of winning.
Biggest Powerball Jackpots
Due to the incredibly long odds, Powerball jackpots can grow to tremendous amounts before there is finally a winner. Here are some of the biggest Powerball jackpots on record:
- $1.586 billion – January 13, 2016 – California, Florida, Tennessee
- $768.4 million – March 27, 2019 – Wisconsin
- $758.7 million – August 23, 2017 – Massachusetts
- $731.1 million – January 20, 2021 – Maryland
- $699.8 million – October 4, 2021 – California
- $687.8 million – October 27, 2018 – Iowa, New York
- $632.6 million – January 5, 2022 – California, Wisconsin
- $590.5 million – May 18, 2013 – Florida
- $587.5 million – November 28, 2012 – Arizona, Missouri
- $564.1 million – February 11, 2015 – North Carolina, Puerto Rico, Texas
The current record Powerball jackpot of $1.586 billion was split between three winning tickets on January 13, 2016. The runners up are also impressive with several surpassing $700 million. With Powerball’s growing popularity, it’s likely we will continue seeing astronomical jackpots in the future.
State Differences in Powerball
While the basic Powerball game is played by 45 states across the country, some states have different rules when it comes to certain aspects of the game.
Power Play Availability
Most states offer the Power Play add-on feature to multiply non-jackpot prizes. However, these states do not currently participate in Power Play:
- Arkansas
- Delaware
- Mississippi
- Nevada
- New Mexico
Prize Payouts
In some states, Powerball prizes must be claimed as an annuity paid out over time instead of a one-time lump sum payment. States requiring annuity payments include:
- Iowa
- Maryland
- North Dakota
- U.S. Virgin Islands
California awarded jackpot prizes as pari-mutuel, meaning it was divided equally amongst all winners instead of a set amount. However, this changed in 2015 when California became a member of MUSL.
Taxes
State and federal taxes are withheld from Powerball prizes before payout. The amount of tax withholding varies by location:
- 24% federal withholding applies to all states
- Additional state taxes:
- CA – none
- DE – 5.5%
- FL – 6%
- MD – 8.95%
- MI – 4.25%
- NC – 5.25%
- PA – 3.07%
- TN – 9.5%
- TX – None
- VA – 4%
- WI – 6.65%
- Remaining states have no additional withholding
Make sure to check with a local tax professional to determine your full tax liability.
How to Claim Powerball Prizes
Winning Powerball tickets must be claimed in the state where the ticket was originally purchased. Here are the steps to follow:
- Sign the back of the winning ticket immediately to establish ownership.
- Notify lottery officials by signing the claim form and presenting ID.
- Submit the original ticket to the lottery in person at a claim center or by mail based on the prize rules in that state.
- Prizes over $600 may also require additional tax forms and documentation.
- The claim timeline varies by state but is generally between 90 days and 1 year from the draw date.
- Powerball annuity payments are made yearly, while lump sum payments will be deposited in the winner’s account shortly after completing claim procedures.
Make sure to thoroughly check your ticket for accuracy before proceeding with the claim process. Retaining legal counsel can also be advisable for major jackpot wins to navigate taxes, investments and other financial matters.
Recent Powerball Winners
Here is a look at some of the biggest Powerball winners over the past few years:
November 2, 2022 – California – $2.04 Billion
A single ticket in California matched all five numbers and the Powerball to win the record $2.04 billion jackpot. The lucky ticket was sold at Joe’s Service Center in Altadena. The winner has not yet come forward to claim the life-changing prize.
February 6, 2022 – Connecticut – $185.3 Million
A Connecticut couple claimed a $185.3 million Powerball jackpot prize. They chose the cash option of $123.9 million before taxes. The winning Quick Pick ticket was purchased at an ExtraMarts store in Cheshire.
January 5, 2022 – California and Wisconsin – $632.6 Million
The first Powerball jackpot win of 2022 was split by two tickets in California and Wisconsin. Both winners opted for the cash payment which came to $450.2 million pre-tax. The California ticket was sold at a 7-Eleven in Sacramento. In Wisconsin, the winning ticket came from a Speedway gas station in New Berlin.
October 4, 2021 – California – $699.8 Million
California had its first solo Powerball jackpot winner in over eight years. The single ticket matched all five numbers and the Powerball to win $699.8 million. The winner has not yet claimed the prize. The ticket was purchased at Albertsons supermarket in Morro Bay.
These mega winners underscore how life can change in an instant with a big Powerball victory. Even second tier prizes worth $1 million or more can bring financial freedom. Will you become the next Powerball winner story?
Should You Play Powerball?
Playing the lottery is entertainment with the possibility, albeit very slim, of a big return. Powerball offers some of the biggest jackpots available, frequently crossing the $100 million threshold. But the odds of winning are extremely long, at 1 in 292 million for the jackpot. Here are some factors to consider when deciding if Powerball is right for you:
- Only spend what you can afford to lose. The tickets are an expense, not an investment.
- Playing with others in an office pool or buying multiple tickets can improve odds.
- Consider the lump sum vs. annuity decision carefully before winning.
- Check the frequency of big jackpots. They tend to grow larger when there hasn’t been a winner in a while.
- Know the tax implications. Winnings will be reduced by federal and possibly state taxes.
- Have a plan if you do win. Finding financial and legal advice is highly recommended.
- Remember the extreme unlikelihood of winning. Don’t spend money you need for bills or savings.
For many, playing Powerball is about the excitement of fantasizing about a jackpot win. As long as you set a budget and play responsibly, Powerball can offer an enjoyable diversion and a bit of hope however small. Who knows – you just might get extraordinarily lucky. But even if the odds are stacked heavily against it, someone is eventually going win it big!
