The Powerball is a popular multi-state lottery game in the United States that is coordinated by the Multi-State Lottery Association. Powerball drawings are held every Wednesday and Saturday evening. For each drawing, 5 white balls are drawn from a set of 69 white balls and 1 red Powerball is drawn from a set of 26 red Powerballs. To win the Powerball jackpot, a player must match all 5 white balls and the red Powerball. Lesser prizes are awarded for matching some but not all of the numbers. The Powerball jackpot starts at $40 million and continues to grow until a winning ticket is sold. As more and more people play when the jackpot gets large, the jackpot can climb into the hundreds of millions of dollars.
Powerball Drawing on March 18
The Powerball drawing held on March 18 fell on a Wednesday in 2020. For this drawing, the winning numbers were:
White balls:
14, 41, 50, 56, 62
Red Powerball:
10
So the full winning numbers for the Powerball drawing on March 18, 2020 were 14, 41, 50, 56, 62, and the Powerball 10.
Any ticket matching this combination of numbers would have won the jackpot. There were no jackpot winners for this drawing, causing the jackpot to roll over and continue growing for the next drawing.
Jackpot Details
Since there was no jackpot winner, the advertised jackpot amount for the March 18 drawing carried over to the next drawing on March 21. For the March 18th drawing, the jackpot prize was an estimated $150 million, with a cash value option of $95.4 million.
If there had been a jackpot winner, they could have chosen to receive their prize as either:
- An annuity paid out over 29 years in 30 graduated payments
- A one-time, lump-sum cash payment equal to the cash value
Most jackpot winners opt for the cash value amount. For a $150 million annuity jackpot, the cash value would have been $95.4 million before taxes. After federal taxes of 24% and any state taxes, the winner would end up with roughly half the advertised jackpot amount if taking the cash option.
Odds of Winning
The odds of winning the Powerball jackpot are incredibly small – 1 in 292,201,338. This makes matching all 6 numbers correctly very difficult. The overall odds of winning any prize are a bit better at 1 in 24.87. For the March 18th drawing, there were a few smaller prizes won:
- 1 ticket matched 5 white balls (missing Powerball): $1 million prize
- 39 tickets matched 4 white balls + Powerball: $50,000 prize
- 620 tickets matched 4 white balls (missing Powerball): $100 prize
- 1,888 tickets matched 3 white balls + Powerball: $100 prize
- 11,475 tickets matched 3 white balls (missing Powerball): $7 prize
- 81,102 tickets matched 2 white balls + Powerball: $7 prize
- 203,294 tickets matched 1 white ball + Powerball: $4 prize
- 521,662 tickets matched 0 white ball + Powerball: $4 prize
So while the long odds prevent most players from winning the enormous jackpot prize, smaller prizes are won more frequently. For this particular drawing, over 800,000 tickets won some sort of cash prize.
Where Winnings Come From
All prizes for Powerball drawings are funded by ticket sales. About 50% of ticket revenue goes towards the prize funds. Powerball tickets cost $2 per play, or $3 if the Power Play option is added for a chance to multiply non-jackpot prizes.
Of every $2 ticket, $0.50 goes to the jackpot pool. The jackpot keeps increasing until a ticket matches all 6 numbers. Lower-tier prizes have fixed payouts funded by the remaining $1.50 of each ticket sale. Unclaimed prizes and rollover amounts also get added to the relevant prize pools.
So as more tickets get sold when the jackpot is high, the jackpot prize grows larger while the lower prizes maintain their set payouts. The lottery organizers monitor ticket sales closely and can adjust the jackpot up or down just before the drawing based on actual tickets sold versus their sales projections.
Changes for Powerball
Over the history of Powerball, the game has gone through several rule and format changes. These have been enacted over time to make the game more attractive and boost ticket sales.
Some key changes include:
- 1992 – Power Play option introduced
- 1997 – Changed from 45 numbers to 42 numbers
- 2001 – Powerball number increased from 42 to 49
- 2006 – Guaranteed $25 million starting jackpot
- 2009 – First $200+ million jackpot
- 2012 – Format change to 5/69 + 1/26
- 2013 – Powerball pool increased from 39 to 43 lotteries
- 2015 – First $300+ million jackpot
- 2017 – Powerball pool increased to 47 lotteries
The most significant change came in 2012 when the 5/69 + 1/26 matrix was introduced. This change lowered the odds of winning the jackpot but increased the average jackpot size, leading to more giant jackpots.
Biggest Powerball Jackpots
With the rule changes producing bigger jackpot amounts, 8 of the top 10 record Powerball jackpots have been hit since 2016. Here are the top 10 Powerball jackpots to date:
| Rank | Date | Winning Numbers | Jackpot | Winners |
|---|---|---|---|---|
| 1 | 1/13/2016 | 4, 8, 19, 27, 34 + PB 10 | $1.586 billion | 3 |
| 2 | 10/23/2018 | 5, 28, 62, 65, 70 + PB 5 | $768.4 million | 1 |
| 3 | 3/27/2019 | 24, 25, 52, 60, 66 + PB 5 | $768.4 million | 1 |
| 4 | 5/18/2013 | 22, 10, 14, 3, 16 + PB 11 | $590.5 million | 1 |
| 5 | 7/30/2016 | 11, 17, 21, 23, 69 + PB 19 | $487 million | 2 |
| 6 | 11/28/2012 | 5, 23, 16, 22, 29 + PB 28 | $587.5 million | 2 |
| 7 | 11/2/2021 | 6, 14, 25, 33, 46 + PB 17 | $699.8 million | 4 |
| 8 | 1/20/2021 | 40, 53, 60, 68, 69 + PB 22 | $731.1 million | 1 |
| 9 | 1/5/2022 | 6, 12, 39, 48, 50 + PB 11 | $632.6 million | 2 |
| 10 | 7/29/2017 | 10, 20, 28, 62, 73 + PB 5 | $543.8 million | 1 |
As you can see, 6 of the top 10 jackpots have been either $600 million+ or $700 million+. The current record prize of $1.586 billion in January 2016 remains the biggest lottery jackpot ever won in the world. It was shared by 3 tickets in California, Florida, and Tennessee.
Taxes on Winnings
For jackpots won by a single player, federal taxes are required to be immediately withheld at a flat 24% rate. State taxes may also apply depending on where the ticket was bought and claimed. Taking the lump sum cash option results in a larger tax obligation compared to the annuity option.
For the record $1.586 billion Powerball jackpot, the lone winner in Tennessee took the cash option of $983.5 million. From this, $247.8 million (25%) was withheld up front for federal taxes. The winner would also owe another 5% in Tennessee state taxes. So from the headline amount, $370.7 million in taxes were paid out immediately.
Smaller prizes may not necessarily have taxes withheld. However, all gambling winnings must be reported as income. Any prize over $600 will result in a tax form being sent to the IRS. If state taxes apply for smaller prizes, the winner would need to make the additional payment directly rather than having taxes withheld.
Remaining Anonymous
Winners of big Powerball jackpots often try to retain anonymity. But this can be difficult as many states require names and locations to be made public. Some states allow trusts or other entities to claim prizes anonymously.
However, for mega jackpots, it can be hard to stay anonymous. Oftentimes lottery winners end up hiring lawyers and financial planners to help claim prizes confidentially. Steps may include having another entity cash the ticket, claiming prizes in a trust, or otherwise avoiding publicity.
But total anonymity is not guaranteed. For record jackpots, speculation, security concerns, and family/friend leaks make remaining unknown difficult. Some winners conduct press conferences or interviews wearing disguises. While this provides some privacy, huge financial windfalls usually become public in one way or another.
How to Play Powerball
Playing Powerball only requires selecting 5 main numbers between 1-69 and the Powerball from 1-26. An easy play slip is available at retail locations. The player can use a quick pick option for randomly generated numbers. The minimum play is $2 per ticket.
For an additional $1 per ticket, the Power Play add-on can be selected. Except for the jackpot, this will multiply any prizes won by up to 10 times:
- Match 5+0: 10x multiplier
- Match 4+1: 2x, 3x, 4x, 5x multiplier
- Match 4+0: 2x multiplier
- Match 3+1: 2x multiplier
- Match 3+0: 2x multiplier
- Match 1+1 or 0+1: 2x, 3x, 4x, 5x multiplier
So for example, matching 5 numbers without the Powerball normally wins $1 million. But with the 10x Power Play selected, this prize would be multiplied to $10 million for just an extra $1 per ticket.
Powerball tickets can be purchased in 45 states, Washington DC, Puerto Rico and the US Virgin Islands. Drawings are held every Monday, Wednesday and Saturday at 10:59pm Eastern. Many states allow tickets to be purchased until about an hour before the drawings.
Strategies for Winning
There is no guaranteed strategy to win the Powerball jackpot. All number combinations have equal odds of being chosen. However, there are some approaches players use to try improving their odds:
- Buy more tickets – more tickets equals more chances to win
- Join an office pool – buy group tickets with coworkers
- Use both sets of numbers – pick some numbers and do quick pick for others
- Avoid consecutive numbers – don’t select numbers in a sequence
- Use a balanced mix – combine high, low, odd and even numbers
- Consider significant dates – birthdays, anniversaries, etc
- Check hot and cold numbers – see what numbers are frequently drawn or overdue
- See what worked historically – look at past winning combinations
However, every possible number has an equal probability of being chosen for each drawing. So even strategies just improve a player’s odds slightly. The huge jackpot odds always remain firmly against every participant.
Frequently Asked Questions
Here are some common FAQs about playing and winning the Powerball lottery:
How do I play Powerball?
To play Powerball, pick 5 numbers between 1-69 and 1 Powerball number between 1-26 on an official play slip. Tickets cost $2 each. Match all 6 to win jackpot.
What days are the Powerball drawings?
Powerball drawings are held every Monday, Wednesday and Saturday night at 10:59pm Eastern Time.
How late can I buy Powerball tickets?
Sales cut-off times vary by state, usually 1 to 2 hours before the drawing. Check with your local lottery for exact times. Online sales close at least 59 minutes before draw.
Can I buy tickets online?
Yes, Powerball tickets can be purchased online via authorized lottery websites in many states. Players must be located within state at time of purchase.
How do I pick numbers?
You can use quick pick for random numbers, choose your own, do a combination, play significant dates, check hot/cold trends, etc. All combinations have equal odds.
What happens if I win?
Sign the back of your ticket immediately and keep it very safe. Contact your state lottery to begin the claims process. Smaller prizes can often be claimed at local retailers.
Are Powerball prizes taxed?
Yes, federal taxes of at least 24% apply to all prizes, plus any state taxes. Tax withholding is required on prizes over $600. Consult a tax professional.
Can I remain anonymous?
Rules vary by state. Some allow trusts or entities to claim prizes anonymously. Mega jackpots often become public eventually. Maintaining privacy can be challenging.
Conclusion
In summary, the Powerball drawing on March 18, 2020 had winning numbers of 14, 41, 50, 56, 62 and Powerball 10. The estimated jackpot was $150 million, continuing to grow as no tickets matched all 6. Smaller prizes were won, funded as usual by ticket sales. Powerball has produced some incredible jackpots in recent times as rule changes made wins bigger but harder. Strategies exist to potentially improve odds, but ultimately Powerball comes down to incredible luck. Matching all 6 numbers remains an incredibly rare occurrence. But with giant jackpots, millions of players continue to dream of beating the long odds each time the white and red balls tumble.
