What About The UK Powerball Prize?
Starting last week, the Powerball Jackpot expanded to include U.K. lottery players, which officials claim will lead to “faster-growing jackpots,” with additional ticket sales contributing to the prize fund. If the Powerball winner is a U.K. player, they will not have the option to pick the lump-sum payout and can only receive the jackpot split across 30 annual payments. The advertised jackpot prize for U.K. players is £377 million ($503.5 million). While this appears significantly lower than the $663 million U.S. prize, the U.K. National Lottery says it reflects the estimated amount a winner would receive over a 30-year period, “after exchange rates and UK tax requirements have been taken into account.”
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Key Background
This is on track to be the second biggest lottery prize of the year so far. The biggest prize was claimed on Tuesday night after a Florida ticket buyer emerged as the winner of an $800 million Mega Millions jackpot prize. The biggest completed Powerball jackpot of the year so far is a $250.8 million prize won by a lottery player from Arkansas.
what To WatCh for
The next Powerball drawing is set to take place on Saturday night.
big number
1-in-292.2 million. Those are the astronomical odds a Powerball ticket buyer will need to overcome to win the jackpot prize. This is even worse than the Mega Millions jackpot’s already poor odds of 1-in-290.4 million.
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further reading
Mega Millions Ticket Buyer From Florida Wins $800 Million—Here’s What They Could Take Home (Forbes)
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