The Powerball lottery draws occur twice a week in the United States, on Wednesday and Saturday evenings at 10:59 p.m. Eastern Time. This means there are 104 Powerball drawings in a year. The lottery is coordinated by the Multi-State Lottery Association and offers jackpots starting at $40 million that continue to roll over if there is no grand prize winner. Powerball is currently offered in 45 states, the District of Columbia, Puerto Rico and the U.S. Virgin Islands.
Powerball Drawing Schedule
Powerball drawings are held on Wednesday and Saturday nights at 10:59 p.m. Eastern Time. This translates to the following draw times for other U.S. time zones:
| Time Zone | Draw Time |
|---|---|
| Eastern | 10:59 p.m. |
| Central | 9:59 p.m. |
| Mountain | 8:59 p.m. |
| Pacific | 7:59 p.m. |
| Alaska | 6:59 p.m. |
| Hawaii | 5:59 p.m. |
With two weekly draws, this means there are 104 chances per year to win a Powerball jackpot. The drawings are televised nationally and also live streamed online. Players can watch the drawing to see the winning numbers revealed.
How to Play Powerball
To play Powerball, players select five main numbers between 1 and 69, and one Powerball number between 1 and 26. Tickets cost $2 each. There are nine ways to win a prize, ranging from $4 for matching just the Powerball to the jackpot for matching all six numbers.
The odds of winning the jackpot are 1 in 292.2 million, while the overall odds of winning any prize are 1 in 24.9. Drawings are held at the Florida Lottery’s studios in Tallahassee, Florida, under tight security measures. Machines draw the winning numbers using numbered balls.
Power Play Option
Except in California, players can multiply non-jackpot prizes with the Power Play option for an extra $1 per ticket. A random multiplier between 2x and 10x is drawn before each drawing. Matching 5 numbers plus the Powerball with a 3x Power Play multiplier would win $3 million instead of the regular $1 million.
Prize Payouts
Powerball pays out set prize amounts for matches, regardless of the jackpot size. Here are the prize payouts:
- Match 5 numbers + Powerball: Grand prize jackpot
- Match 5 numbers only: $1 million
- Match 4 numbers + Powerball: $50,000
- Match 4 numbers only: $100
- Match 3 numbers + Powerball: $100
- Match 3 numbers only: $7
- Match 2 numbers + Powerball: $7
- Match 1 number + Powerball: $4
- Match Powerball only: $4
Record Powerball Jackpots
Some of the largest Powerball jackpots in history include:
- $1.586 billion – January 13, 2016 – Split between winners in California, Florida and Tennessee
- $768.4 million – March 27, 2019 – Won in Wisconsin
- $758.7 million – August 23, 2017 – Won in Massachusetts
- $731.1 million – January 20, 2021 – Won in Maryland
- $699.8 million – October 4, 2021 – Won in California
The biggest single ticket Powerball winner was a lucky player in California who won the massive $699.8 million jackpot in October 2021. Powerball jackpots start at $40 million and roll over each drawing until a ticket matches all six numbers.
How Jackpots Grow
The jackpot grows with each drawing when no one wins the top prize. This happens because a set percentage of revenue from ticket sales is allocated to the jackpot prize pool. More ticket sales mean a faster-growing jackpot. Here is how it works:
- 50% of sales allocated to jackpot pool
- 24.8% of sales allocated to lower-tier prizes
- Remainder goes to operating expenses and profits for participating lotteries
With approximately 30 cents from every $2 ticket going to the jackpot pool, the top prize climbs quickly when there is a long run of drawings without a grand prize winner. Some jackpots have climbed above $1.5 billion before a single ticket matched all the numbers.
Rollover Limit
Starting in November 2022, Powerball instituted a new rollover limit to avoid gigantic jackpots. Now the advertised estimated jackpot cannot exceed $1.586 billion, which is the current record set in 2016. Excess funds over this amount will be rolled down into lower tier prizes. This creates bigger secondary prizes for players.
Winning the Powerball Jackpot
Successfully matching all six numbers remains a long shot, but winning the jackpot is possible. Here are some lucky winners:
- Single California ticket won $699.8 million in October 2021
- Ford worker from West Virginia won $136.4 million in 2000
- Group of 17 hospital workers split $543 million in 2018
- Wisconsin resident won $768.4 million in 2019
- Vietnam veteran from Wisconsin won $262.6 million in 2006
Winners get to decide whether to receive the full jackpot spread out over 30 annual payments, or take a reduced one-time cash lump sum. The cash options are typically in the hundreds of millions before taxes. Jackpot winners can choose to remain anonymous in some participating states.
Odds of Winning Powerball
The odds of winning any prize in Powerball are about 1 in 25, while the jackpot odds are nearly 1 in 293 million. Here are the overall odds:
| Prize Match | Odds |
|---|---|
| Jackpot | 1 in 292,201,338 |
| 5 + 0 | 1 in 11,688,053.52 |
| 4 + 1 | 1 in 913,129.18 |
| 4 + 0 | 1 in 36,525.17 |
| 3 + 1 | 1 in 14,494.11 |
| 3 + 0 | 1 in 579.76 |
| 2 + 1 | 1 in 701.33 |
| 1 + 1 | 1 in 91.98 |
| 0 + 1 | 1 in 38.32 |
As you can see, smaller prizes have much better odds, with a 1 in 25 overall chance of winning something. The Powerball odds are similar to those of Mega Millions.
Increase Your Odds
While winning the jackpot requires immense luck, there are a few things savvy players do to increase their odds:
- Buy more tickets – more number combinations improves odds
- Join an office pool to buy many tickets
- Use lottery wheeling systems
- Consistently play numbers you feel are lucky
- Avoid quick pick randomly generated numbers
Buying 100 Powerball tickets boosts your chance of winning from 1 in 292 million to 1 in 2.9 million – still a long shot but better than one ticket!
Where Powerball is Played
Currently (October 2023), Powerball is offered in 45 U.S. states, the District of Columbia, Puerto Rico, and the U.S. Virgin Islands. Here is a full list of participating locations:
- Arizona
- Arkansas
- California
- Colorado
- Connecticut
- Delaware
- District of Columbia
- Florida
- Georgia
- Idaho
- Illinois
- Indiana
- Iowa
- Kansas
- Kentucky
- Louisiana
- Maine
- Maryland
- Massachusetts
- Michigan
- Minnesota
- Mississippi
- Missouri
- Montana
- Nebraska
- New Hampshire
- New Jersey
- New Mexico
- New York
- North Carolina
- North Dakota
- Ohio
- Oklahoma
- Oregon
- Pennsylvania
- Puerto Rico
- Rhode Island
- South Carolina
- South Dakota
- Tennessee
- Texas
- U.S. Virgin Islands
- Vermont
- Virginia
- Washington
- West Virginia
- Wisconsin
- Wyoming
The five states that do not currently participate in Powerball drawings are: Alabama, Alaska, Hawaii, Nevada and Utah. Powerball previously was offered in these states at various times over the history of the game.
Powerball Expansion
Powerball has expanded to more and more participating locations over the years. It began in 1992 in 15 original states, including Iowa, Kansas, Missouri and Oregon. By the end of the 20th century it had reached 32 states. Further expansion occurred in the 2000s and 2010s.
Most recently, Powerball launched in Puerto Rico in April 2020, and the Virgin Islands in October 2021. This brought the total jurisdictions up to 45 states, D.C., Puerto Rico and the Virgin Islands. Expansion efforts continue with hopes of eventually having Powerball offered nationwide.
Buying Powerball Tickets
Powerball tickets can be purchased at over 50,000 retail locations across participating jurisdictions. Most states allow sales at grocery stores, gas stations, convenience stores, liquor stores and newsstands. Here are some ways to buy Powerball tickets:
- At authorized retailers – most convenient stores sell tickets
- Online – available in some states through lottery websites
- Lottery terminals – purchase directly from lottery machines
- Lottery mobile apps – purchase through official app in some states
- Subscription plans – automatically get tickets in some states
Players have the flexibility to buy tickets however is most convenient for them. Online sales and lottery apps continue to expand accessibility in many locations. Subscriptions allow you to never miss a drawing.
Ticket Cutoff Times
Powerball tickets cannot be purchased after a certain time before each scheduled drawing. The cutoff times are typically 1 to 2 hours beforehand. This allows time for all ticket sales to be processed and entries finalized before the drawing.
Check your local lottery for the exact Powerball sales cutoff times in your jurisdiction. Ticket purchases must be completed before the deadline to be eligible for that night’s drawing.
How to Claim a Powerball Prize
For prizes of any amount, the Powerball ticket must be signed before redeeming. Smaller prizes of a few dollars up to $600 can typically be claimed at any authorized lottery retailer in participating jurisdictions.
For larger Powerball prizes above $600, the winning ticket must be submitted to your local lottery office. This begins a claims process involving filling out a claim form, providing photo ID, and tax information. Powerball will provide support during the redemption process.
Jackpot prizes often have lengthier claims procedures to verify the winner and validate the ticket. Powerball winners should assemble a team of legal and financial advisors before coming forward.
Prize Expiration
Powerball prizes expire after a certain period if unclaimed. Expiration times range from 90 days up to one year from the drawing date, depending on the state.
It’s critical to check your tickets promptly and start the redemption process quickly. Billions in lottery prizes nationally go unclaimed every year when people don’t come forward in time.
Powerball Taxes
Federal taxes of 24% are withheld from Powerball prizes above $5,000. Additional state taxes may also apply, depending on where you live and buy tickets. Jackpot annuities are taxed annually.
While lump sums appear higher in the headlines after tax withholding, the annuity stream over 30 years can sometimes have a higher net present value when accounting for taxes. Consult with tax and financial experts.
Set Aside for Taxes
If you win the Powerball jackpot, be sure to set aside money to pay applicable taxes. Work with an accountant to determine how much you will owe.
Some winners who did not sufficiently plan for taxes owed have faced financial struggles after winning the lottery, despite receiving enormous prizes. Handling taxes prudently is key.
Is Powerball Worth Playing?
Powerball offers life-changing jackpots but very challenging odds. For many, playing Powerball is fun entertainment and a chance to dream, which may be worth the $2 ticket price alone.
Statistically, your odds are far better if you invested the $2 in an index fund every week. But Powerball allows you to take a chance at riches beyond your wildest dreams!
Playing responsibly within your entertainment budget is recommended. Use quick picks and auto lottery subscriptions to ensure you don’t miss any drawings.
Powerball Pro & Cons
Here are some pros and cons to weigh when deciding if Powerball fits your lifestyle and budget:
Pros
- Jackpots often exceed $100 million
- Drawings held twice weekly
- Secondary prizes up to $2 million
- Can play anonymously if you win
- Get to dream about fortune and freedom
Cons
- Odds of jackpot 1 in 292 million
- Taxes eat away at winnings
- Have to share if multiple winners
- Potential for gambling addiction
- Luck determines everything
For many, playing sparingly for entertainment makes Powerball harmless fun. But know the risks, set a budget, and enjoy responsibly. With huge jackpots and dreams of riches, Powerball captivates players twice a week.
Conclusion
In summary, the Powerball lottery holds drawings twice a week in the evening, on Wednesdays and Saturdays. There are 104 chances each year to win prizes ranging from $4 up to jackpots starting at $40 million.
Tickets can be purchased in 45 participating states, Washington D.C., Puerto Rico, and the U.S. Virgin Islands. While the odds of winning the jackpot are about 1 in 292 million, smaller prizes have better chances such as 1 in 25 overall.
Powerball jackpots grow larger with each drawing that rolls over when there is no grand prize winner. Players pick 5 main numbers and 1 Powerball number for a shot at riches. Responsible play within a budget is recommended.
With huge nine-figure jackpots and exciting drawings twice a week, Powerball offers entertainment and excitement. Match all six numbers and you could wake up a multi-millionaire!