How much do you get if you take the lump sum in Powerball?
It works out something like this if you take the lump sum for the $930 million jackpot: $930 million, less 25% withheld = $232,500,000. Less an additional $111,600,000 (to meet 37% tax rate)
Is it better to take the lump sum or payments Powerball?
Lump Sum vs. While both options guarantee a lottery payout, the lump-sum and annuity options offer different advantages. Choosing a lump-sum payout can help winners avoid long-term tax implications and also provides the opportunity to immediately invest in high-yield financial options like real estate and stocks.
What are the payouts for Powerball match 5?
Powerball Payouts Category Prize Per Winner Winners Prize Fund Match 5 + Powerball $333,900,000.00 Rollover 0 $0.00 Match 5 $1,000,000.00 1 $1,000,000.00 Match 4 + Powerball $50,000.00 8 $400,000.00 Match 4 $100.00 193 $19,300.00
How does double play work in the Powerball?
When you add Double Play, your numbers are entered into a separate drawing which takes place just after the main drawing. Five numbers from 1 to 69, plus a Powerball from 1 to 26, are selected at random. You win prizes in the same way as you do in the main draw, starting with $7 in the Match 0 + Powerball category.
How can I increase my power play payout?
For a small additional fee, you can opt to use the Power Play option which will increase the prize payout for any non-jackpot win by a multiple of 2, 3, 4 or 5 (or possibly 10 when the estimated jackpot is less than $150 million) depending on which Power Play number is drawn.
What’s the top prize for winning the Powerball?
You can win $4 just for matching the Powerball, while the jackpot is won by matching all five main numbers plus the Powerball. The top prize starts at $40 million and increases every time it is not won.