Powerball is an American lottery, organized by the Multi-State Lottery Association, present in 44 US states. The game is very simple, but incredibly profitable. In fact, as of May 2013, the Powerball lottery held the world record for the largest (pre-tax) jackpot ever given to a single person ($ 590 million). Although the odds of winning the jackpot are extremely low, as the saying goes: "Nothing ventured, nothing gained".
Steps
Step 1. Learn where to buy Powerball tickets
In 43 states, the District of Columbia and the US Virgin Islands, you can find tickets for this lottery from authorized dealers. Often these are the businesses that sell all lottery tickets: supermarkets, groceries and petrol stations. Anyone over 18 can participate. It is not necessary to be a resident of a state where the lottery is licensed. You don't even need to be a US citizen to play and win Powerball.
- Keep in mind, however, that the IRS (the American tax institute) will keep 30% of your winnings if you hit a large jackpot and if you are not an American national. Citizens of the United States are subject to different rules.
- Powerball Tickets I'm not sold in Alaska, Hawaii, Nevada, Utah, Alabama and Mississippi. These states prohibit lotteries by law.
- Finally, it is not possible to buy Powerball tickets by post or internet, except that from the Powerball recommended service website, which buys legal tickets in your name.
Step 2. Know when extractions take place
The official Powerball draws are held every Wednesday and Saturday night at 10:59 pm East Coast Time. Ticket sales are stopped at least 59 minutes before the draw, but may end earlier. When you buy a Powerball ticket in a shop, if you don't pay for multiple draws, it will only be valid for the next draw. In other words, if your ticket is not a winner, you will not be able to use it again in future draws if you have not paid explicitly to do so.
- The more draws that occur without a player winning the jackpot, the higher the jackpot goes. The jackpot starts at a minimum of $ 40 million and increases with each draw without a winner.
- The results of the latest draws are published on the US Mega Millions and Powerball websites. You will also find the results in almost every shop that sells tickets.
Step 3. Understand how the Powerball works
This lottery is played by choosing six numbers: five between 1-69 and one between 1-26. Each number is represented on a special ball, chosen at random by a machine during the draw. Your ultimate goal is to match all the numbers drawn to win the jackpot. There are, however, other winning combinations of numbers, which award prizes of lesser value (which can still be quite profitable).
- The first five numbers do not have to be in the same order as those drawn. The winning numbers are such regardless of the draw order. The final Powerball number, however, must be exact; none of the first five numbers hold in that case.
- Ball numbers and odds change regularly. The rules described here are valid as of January 2016.
Step 4. Learn Powerball winning combinations
If the numbers you have chosen are the same as those drawn in one of the nine combinations described below, you can claim your winnings. Note that the winnings shown here represent the base values; the prizes obtained with a ticket with Power Play are multiplied x2, x3, x4 or x5, randomly (except for the jackpots, which are not multiplied and the prize for matching the five white balls, which can only double). The winning combinations are:
- Matching the red ball only: $ 4.
- Matching the red ball and a white ball: $ 4.
- Matching the red ball and two white balls: $ 7.
- Matching three white balls: $ 7.
- Matching the red ball and three white balls: $ 100.
- Matching four white balls: $ 100.
- Matching the red ball and four white balls: $ 10,000.
- Matching five white balls: $ 1,000,000.
- Guess the red ball and five white balls: jackpot!
- Note: Prizes are different in California because state laws require lottery prizes to be awarded on a totaliser basis.
Step 5. Buy a ticket
A single Powerball ticket costs $ 2. In every state (except California) you also have the option to play a "Power Play". This option, which involves an increase in the cost of the ticket, multiplies the winnings of all combinations that do not award the jackpot. Until January 2014, prizes for winning tickets with Power Play are subject to a 2x, 3x, 4x or 5x multiplier, chosen at random before each draw. For example, a $ 4 prize would become $ 8, 12, 16, or $ 20 with Power Play. This option costs an extra $ 1.
The Power Play option is not available in California, as state laws require lottery prizes to be distributed in total. This means that lottery prizes cannot be fixed at absolute values, but vary according to the number of tickets sold and the amount of winners
Step 6. Fill out the ticket
While Powerball tickets vary slightly from state to state, the basic method of completing them is the same everywhere. On your ticket you will need to specify the numbers you want to bet on, the number of draws you want to participate in and whether you want to use the Power Play option. Follow the guidelines below to fill out a single ticket:
- Fill in the spaces for five numbers with digits from 1 to 69 and the space for a single number with a digit from 1 to 26. Usually, Powerball tickets are divided into several sections called "tables", which have rows of bubbles of your choice multiple to fill, to decide your numbers. Each table basically counts as a $ 2 ticket. In other words, for $ 2 you can fill out a ticket table and bet on just one set of numbers. Each additional table costs an additional $ 2, but allows you to bet on another set of numbers.
- For each table, indicate if you want to use the "Power Play" option. Each table (except in California) should have a space that allows you to purchase a Power Play for your number series.
- To choose random numbers, check the QP box. "QP" stands for "Quick Play". This option allows a computer to randomly choose numbers for you.
- Choose how many draws you want to enter. Almost all tickets have a "Multidraw" section which allows you to pay extra to enter multiple draws. For example, if you want to bet on your numbers for two consecutive draws, fill in the space "2". Each additional draw costs the same as a second ticket.
- If you make a mistake in a table, fill in the corresponding "VOID" space. Don't try to delete the numbers. Mark the table as VOID (null) and choose numbers on another table.
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When you are done filling out your ticket, buy it. The clerk will calculate the price based on the number of tables, Power Play and draws you have chosen.
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For example, if you play 5 series of numbers with Power Play on a table and 5 series of simple numbers, you will pay 5 × 3 + 5 × 2 = 25$.
Play Powerball Step 7 Step 7. Alternatively, ask the clerk for a Quick Pick ticket
If you don't want to hand-fill your Powerball ticket or if you don't care which numbers to choose, you can ask for a Quick Pick ticket instead of a regular one. In this case, a computer will randomly choose numbers for you, as if you had checked the "QP" box on a regular ticket table.
Play Powerball Step 8 Step 8. If you have won, collect your prize
You can claim small winnings directly from the retailer you bought your ticket from, while larger prizes require official verification. If the winnings are less than $ 600, simply go to the retailer with the winning ticket to claim it. If the prize is over $ 600, go to a district lottery office to present your ticket. The exact procedure for collecting high-value premiums differs from state to state. You may need to fill out a form.
- Powerball Tickets expire. The time you have to claim an award varies from state to state - from 90 days to a full year.
- If for any reason you cannot reach the seller or the lottery office (for example, you have moved from the state where you bought the ticket), you can mail the ticket to the state office.
- Powerball offers a map with links to state lottery pages, which contain more detailed information on how to claim your winnings in your state. You can find it on Powerball Map.
Play Powerball Step 9 Step 9. If you have won a jackpot, choose a payout option
Congratulations, you've hit the jackpot! The only question you need to answer before retiring is: "How do you prefer to receive your money?". You have two options: you can cash out the entire prize in one single payment, or collect it as annuity. This is a difficult decision that varies depending on your personal financial situation. By collecting the amount as a single payment you will have a lot of money immediately, so it may be the best solution if there is something you have always dreamed of buying or if you want to make some investment. The annuity option allows you to invest your winnings, receive the first installment right away and get the rest of the amount each year for 30 years (plus interest), a better solution for your long-term stability.
Note that Powerball winnings are subject to federal and state income taxes. For this reason, if you are a resident of the United States, the annuity option allows you to receive more money in the long run. Not only will you get interest on the premium, but each year you will only have to pay taxes on one-thirtieth of the total; as a result, the tax rate will be lower. With a one-off payment, however, you can expect to pay about half of your winnings in taxes, according to your state's tax laws
Play Powerball Step 10 Step 10. Learn the Powerball Odds
Like any lottery, the odds of winning the Powerball jackpot are very slim. Many hardcore gamers consider the excitement of ultra-low odds to be part of the fun. To make an informed decision when purchasing a Powerball ticket, consult the official odds listed below, which are valid for a single random $ 2 ticket:
- Match the red ball only: 1 in 38, 32.
- Matching the red ball and a white ball: 1 in 91, 98.
- Match the red ball and two white balls: 1 in 701, 33.
- Matching three white balls: 1 in 579, 76.
- Match the red ball and three white balls: 1 in 14,494, 11.
- Match four white balls: 1 in 36,525, 17.
- Match red ball and four white balls: 1 in 913.129, 18.
- Match five white balls: 1 in 11,688,053, 52.
- Match the red ball and five white balls: 1 on 292.201.338.
- Overall probability of winning any prize: 1 in 24, 87
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