Topline
Wednesday night’s Powerball draw will be the first since ticket sales expanded to the UK, and more people eligible to take part means jackpots could grow faster.
UK players can now purchase Powerball tickets. (Photo by Patrick T. FALLON/AFP) (Photo by PATRICK T. FALLON/AFP via Getty Images)
AFP via Getty Images
Key facts
Earlier this week, Powerball opened ticket sales to residents of the United Kingdom. For the first time, lottery players from outside the US can try to win a huge jackpot.
Rebecca Paul, president and CEO of the Tennessee Lottery, said earlier this month that the more players buy tickets, the faster the jackpots grow as ticket sales help replenish the prize pool.
According to Powerball, every Powerball ticket sold in the UK will pay the same grand prize amount as a ticket sold in the United States.
Powerball said the odds of winning money will not change because the numbers players must select when purchasing a ticket – five numbers from one to 69 and one red Powerball number from one to 26 – will remain the same.
amazing fact
UK lucky winners will not have the option to opt for a lump sum payout, unlike US players. In the US, winners can choose between a lump sum payment and annual payments for 30 years with annual payments increasing by 5%. UK payers will only be given the option to receive payouts annually for 30 years, with payouts administered by the UK National Lottery. An annual payment plan is a less popular option, although it pays out more money over time: most Powerball winners chose to pay in cash.
large number
$567 million. This is the estimated Powerball jackpot for Wednesday night’s drawing after there were no jackpot winners in Monday’s drawing. The winner will earn $567 million after 30 years if they choose the annual payment option, but if the winner chooses a lump sum cash payment, they will earn $251.8 million before taxes, which could then reduce the prize to a final amount of approximately $158.6 million.
What are the odds of winning the Powerball jackpot?
Just one in 292.2 million, according to Powerball. US and UK players will have the same chance of winning the jackpot. According to Powerball, the odds of winning any prize are one in 24.9.
further reading
Powerball jackpot rises to $567 million – here’s what the winner could get (Forbes)