Powerball Calculator
Calculate your Powerball jackpot winnings, annuity payments, and cash lump sum options. Also see your odds of winning different prize levels.
Payment Options
Odds Calculator
Winnings Summary
Your Share:
Payment Type:
Annuity
After-Tax Amount:
$0.00
Odds Analysis
Jackpot Odds:
1 in 292,201,338
Your Odds:
1 in 292,201,338
Break-Even Point:
$0.00
Prize Breakdown
Match 5 + PB:
$0.00
Match 5:
$2,000,000
Match 4 + PB:
$50,000
Match 3 + PB:
$100
Understanding Powerball
Powerball is one of America's most popular lottery games, offering massive jackpots and multiple prize tiers. Understanding the odds, payment options, and tax implications is crucial for players.
How Powerball Works
Game Format
- Pick 5 numbers from 1-69
- Pick 1 Powerball from 1-26
- Draws Wednesday and Saturday
- Starting jackpot: $20 million
- Rolls over if no winner
Prize Tiers
- 9 prize levels total
- Jackpot for matching all 6
- Fixed prizes for lower tiers
- Parimutuel prizes for some levels
- Power Play multiplier available
Powerball Odds
| Match | Odds | Prize |
|---|---|---|
| 5 + PB | 1 in 292,201,338 | Jackpot |
| 5 | 1 in 11,688,053 | $1,000,000 |
| 4 + PB | 1 in 913,129 | $50,000 |
| 4 | 1 in 36,525 | $100 |
| 3 + PB | 1 in 14,494 | $100 |
Payment Options
Annuity Option:
- 30 annual payments
- 5% increase each year
- Guaranteed by lottery
- Beneficiaries can continue
Lump Sum Option:
- Immediate payment
- Approximately 50-60% of jackpot
- Full investment control
- Taxed in single year
Tax Considerations
Powerball Winnings Taxes
Federal Taxes:
- Ordinary income tax rates
- Withheld at highest rate
- Annuity taxed each year
- Lump sum taxed immediately
State Taxes:
- Vary by state
- Some states tax-free
- Others up to 13.3%
- Check local laws
Responsible Play
Lottery Safety Guidelines
Budget Wisely:
- Set spending limits
- Never spend essential money
- Treat as entertainment
- Track your spending
Play Responsibly:
- Understand the odds
- Don't chase losses
- Seek help if needed
- Play for fun, not income
Key Takeaways for Powerball
- Powerball offers extremely long odds of winning the jackpot (1 in 292 million)
- Jackpot winners can choose between annuity payments over 30 years or lump sum payment
- All winnings are subject to federal income tax and possibly state taxes
- The lump sum option is typically 50-60% of the advertised jackpot amount
- Consider the time value of money when choosing between annuity and lump sum
- Powerball should be played for entertainment, not as an investment strategy
- Always play responsibly and within your budget
- Consult financial and tax advisors before claiming large prizes