It seems like everyone has their own ideas of how they're going to win the Powerball. Whether you've spent hours calculating the perfect set of numbers or plan on leaving it all to the computer, you would probably do anything to get a leg up in this battle for the billion. Some people have chosen to spend an extra dollar for the Power Play option, which is a way of multiplying your winnings if you somehow win second place or below. But let's face it: The odds of getting anything are undoubtedly stacked against you. So should you use the Power Play option on Powerball? It might be a waste of your precious dollar.
For an additional $1 per play per draw (total cost will be $3), Power Play will increase NON-jackpot winnings. To select Power Play, mark the Power Play circle on the playslip, or ask the clerk to add Power Play when purchasing a ticket. For every Powerball drawing, a Power Play multiplier is drawn to multiply certain prizes. Power Play is a special feature that allows a winner to multiply the original prize amount. Powerball players can multiply their Powerball prizes by 2, 3, 4 or 5 times (does not include the jackpot or the Match 5 bonus prize). The Match 5 prize with Power Play option will always be multiplied 5X’s for $1 million cash.
2 days ago The Powerball drawn was 5 with a Power Play of 3X. The odds of hitting the Powerball jackpot are 292,201,388 to 1. A player who buys a $2 ticket has about a 1 in 11,688,053 chance to match five.
UPDATE: This post was originally published in January 2016. As of Aug. 23, 2017, the new Powerball jackpot has hit $700 million (and if there are no winners, it'll go to $1 billion). The Powerball will be drawn at 10:59 p.m. EST.
To give you a sense of how competitive this thing really is, you should know that you have a one in 292.2 million chance of winning the jackpot tonight. According to NBC News, that is comparable to flipping a quarter and getting heads 28 times in a row. Even if you bought a thousand tickets, your chances wouldn't be greater in any significant way than they would be if you bought just one. So can spending an extra buck really make a difference? In all honesty, you're still probably throwing your money away. Your odds of winning are just so ridiculously slim.
That said, although nobody won the jackpot Saturday night, 25 players won $1 million, and three of them chose the Power Play option, landing them with $2 million. Of the 451 people who won $50,000, 55 chose the Power Play option and doubled their winnings. In smaller jackpots, the Power Play option can multiply winnings up to 10 times, but due to the enormity of this Powerball, non-jackpot winners can only double it (though I don't hear anyone complaining about a $2 million reward). So while your chances are just as slim if you choose Power Play, if for some astounding reason you win a chunk, then that chunk will get a lot bigger.
There are two ways you can win big without actually winning the jackpot: A) Get all five numbers on the white balls in any order, or B) get four numbers on the white balls, as well as the final Powerball number. The winnings decrease to $100 if you only have four matching white balls, or three and the Powerball, and to less than $10 if you only get a few of the right numbers. Remember, though, that any of these winnings can double if you purchase the Power Play option.
What it really comes down to is how willing you are to part with that extra dollar. I can't emphasize enough that you most likely won't win anything. Plain and simple. Life goes on. Nevertheless, there's still that tiny glimmer of hope that you might get something. So if you're gung-ho about taking this gamble all the way, then by all means, be my guest and go for that Power Play. Just don't plan on getting your $3 back.
* Don't forget to pay taxes on your winnings. Whether it's a small payout or a large one, You have to pay federal and state taxes.
Powerball payout starts from $4, and that can be win by matching one number only. This payout inclusion in Powerball increases the overall chance of winning. Matching one number doesn't win you a lot of money. But it is something that boosts your confidence and also recovers your ticket cost.
Everyone is not going to win a huge amount by matching 5 or 6 numbers in each draw. And that's the reason to promote the lottery They broke down the prizes in 9 tiers. So people can win prizes according to the different types of payouts.
Powerball Payout Chart
This chart will show you how much you will win with different winning number combinations. Minimum payout is $4 if you match one white ball with Power ball or match only Power ball. And the maximum amount you can win in current Powerball is the Jackpot Prize.
| Match Case | Payout | Odds |
|---|---|---|
| 5 + PB | Jackpot | 1 in 292,201,338 |
| 5 | $1 Million | 1 in 11,688,054 |
| 4 + PB | $50K | 1 in 913,129 |
| 4 | $100 | 1 in 36,525 |
| 3 + PB | $100 | 1 in 14,494 |
| 3 | $7 | 1 in 580 |
| 2 + PB | $7 | 1 in 701 |
| 1 + PB | $4 | 1 in 92 |
| Only PB | $4 | 1 in 38 |
When you win the Jackpot then how much you are going to get after the taxes. We have done a full analysis of Powerball Jackpot. You can check it by clicking the button below.
There is a Power Play option in this Lottery. So if you opt this option by paying $1 additional then you can multiply your winning amount by a multiplier. Multiplier can be 2x, 3x, 4x, 5x, or 10x. Following chart shows you the list of power play prizes.
As you win a prize, You will need to pay taxes on your winnings. There are at least two taxes levied on your prize money, Federal tax, and State tax. In your jurisdiction, there might be some local taxes imposed on your payout, and you must have to pay those also.
Cash Payout:- You can opt to get the Jackpot payout in cash at the time of the claim. Approximate (lump sum) cash amount is around 60% of the advertised jackpot.
Annuity Payout:- If you choose this option, then you will get the Jackpot amount in 30 installments. The installment will increase by 5% each year. This option will give you 100% of the advertised jackpot.
Federal Tax:- In the US, Federal tax is dependent on the money you earn or win. Federal tax is variable from 10% to 37%. Here for the Jackpot amount, you always fall on a 37% tax category.
State Tax:- State taxes in the US varies between 0% to 10% and is independent of payout value. You can check state tax for your residing state on Powerball Analysis page.
Your total tax liability is around 40-45% approximately. This liability includes both federal and state tax. Gross payout is not the amount you are going to get in hand. Net payout is what you will get after paying all the payments.
Power Play Prize Chart
| Match | Power Play |
|---|---|
| Match 5 + PB | Jackpot |
| Match 5 | $2 Million |
| Match 4 + PB | $100,000 |
| Match 4 | $200 |
| Match 3 + PB | $200 |
| Match 3 | $14 |
| Match 2 + PB | $14 |
| Match 1 + PB | $8 |
| PB | $8 |
Mississippi Powerball Power Play
Powerball Power Play Number
10X Multiplier comes into play when the jackpot prize is less than $150 million. Otherwise it is out of the game. Prize amount of Match 5 main numbers will be multiplied by 2 only even if the multiplier is more than of it. Slots million bonus.