surprising fact
Lucky players in the United Kingdom who win won’t have the option to select a lump-sum payment, unlike American players. In the United States, winners can select between a single lump payment and annual payments over a period of 30 years, with annual payments increasing by 5%. United Kingdom-based payers will only have the option to receive payments annually for 30 years, with payments administered by the U.K. National Lottery. The annual payment plan is the less popular option, even though it pays out more money over time—most Powerball winners have opted for the cash payment.
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big number
$567 million. That’s the estimated Powerball jackpot for Wednesday night’s drawing, after there were no jackpot winners in Monday’s drawing. A winner would earn $567 million after 30 years if they choose the annual payment option, but if a winner opts for the lump-sum cash payment, they would earn $251.8 million before taxes—which could then cut the prize down to a final take-home amount of about $158.6 million.
What Are The Odds Of Winning The Powerball Jackpot?
A miniscule one-in-292.2 million, according to Powerball. American and British players will have the same odds to win the jackpot. The odds of winning any prize are one in 24.9, Powerball says.
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further reading
Powerball Jackpot Soars To $567 Million—Here’s What The Winner Could Take (Forbes)
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