Although the Powerball jackpot captures the attention of most players, the secondary prizes also offer appealing amounts. For instance, the second prize is worth $1 million and can be doubled with the Power Play multiplier. Discover more on Powerball prizes below:
Powerball prizes Overview
To win the Powerball grand prize, you need to match all five of the main numbers plus the Powerball number. Even if you only guess the Powerball number correctly, you can still win a prize. Take a look at the summary below for more information.
Powerball jackpot
| Powerball prize | |
|---|---|
| Balls matching | ⚪⚪⚪⚪⚪ + 🔴 |
| Minimum amount | $20 million |
| Maximum amount | Unlimited |
| Record Amount | $2.04 Billion! |
Powerball secondary prizes
The Powerball lottery has 8 lower-tier prizes in addition to the main jackpot.
These prizes range from $4 to $1 million, and can be won by correctly guessing the Powerball number alone.
That isn’t all: the $4 prize can be multiplied by up to 5 times with the Powerball multiplier.
World record jackpot
The Powerball record is the highest jackpot ever won in the history of the game but also the highest lottery jackpot ever won in the world. The record was set on November 7, 2022 when Edwin Castro scooped the $2.04 billion jackpot. The winning numbers were 10, 33, 41, 47, 56, and Powerball 10. The winning ticket was purchased in California.
The Mega Millions is the only lottery that came close, but still didn’t manage to overcome Powerball’s record jackpot!
Discover all Powerball prizes
Powerball prizes range from $4 to the jackpot, which starts at $20 million and increases until someone wins. The jackpot can easily reach hundreds of millions of dollars. Secondary Powerball prizes range from $4 to $1 million, depending on the size of the jackpot.
| Prize Division | Matching Balls | Prizes |
|---|---|---|
| 1st Prize | ⚪⚪⚪⚪⚪ + 🔴 | Jackpot |
| 2nd Prize | ⚪⚪⚪⚪⚪ | $1 million |
| 3rd Prize | ⚪⚪⚪⚪ + 🔴 | $50,000 |
| 4th prize | ⚪⚪⚪⚪ | $100 |
| 5th Prize | ⚪⚪⚪ + 🔴 | $100 |
| 6th Prize | ⚪⚪⚪ | $7 |
| 7th Prize | ⚪⚪ + 🔴 | $7 |
| 8th Prize | ⚪ + 🔴 | $4 |
| 9th Prize | 🔴 | $4 |
Overall, when you play Powerball, you have a chance in 24.87 to win a prize! What are you waiting for to buy your Powerball ticket online?!
Powerball prizes enhanced by the Power Play
When the Power Play is activated, non-jackpot prizes will be multiplied by a randomly drawn number from two to five. If the Power Play multiplier is chosen, it will be applied to all non-jackpot prizes. The Power Play multiplier does not apply to the jackpot, which will remain fixed at the announced amount regardless of the multiplier number.
How to claim a Powerball prize?
- Sign the back of your ticket: Immediately after the Powerball drawing, sign the back of your ticket. This is the only way to protect yourself should your ticket be lost or stolen.
- Contact the lottery: You will need to contact your state lottery office to claim your prize. You can find contact information for your state lottery office on the Powerball website.
- Gather supporting documents: Once you found out you won after checking Powerball results, you will need to provide proper identification and other supporting documents to claim your prize. This includes a copy of your ticket, proof of identification, Social Security card, and proof of address.
- Collect your winnings: After the lottery has verified your ticket and all the necessary documents have been provided, you will be able to collect your winnings. Depending on the amount of your prize, this may be done by mail, direct deposit, or in person.
What are the ways to collect the Powerball 1st prize?
If you win Powerball’s jackpot, you have two options for collecting your prize:
Cash option
This allows the Powerball winner to receive the entire prize amount in one lump sum. The jackpot amount that is actually paid out is usually lower than what was initially announced, since taxes and fees are subtracted.
Annuity option
This allows the winner to receive their prize amount in annual payments over a period of 29 years. Each payment will be 5% larger than the previous one.
What are the steps for claiming a Powerball prize that was won online?
If you select theLotter as your lottery courier, you won’t have to worry about the claiming process if you win a large Powerball prize as their team will take care of it.
Additionally, if you win a smaller Powerball prize, it will be directly transferred to your account without any deductions.
Furthermore, on theLotter, no commission will be taken from your winnings, regardless of the amount you win!
Do Powerball Winnings Have to Be Taxed?
Yes, Powerball winnings are considered to be taxable income and must be reported to the IRS. Depending on the size of the jackpot, you may also be subject to state taxes.
You need to pay both a US federal tax and a state rate on any Powerball prize that is more than $600.
Powerball prizes FAQ
Powerball prizes range from $4 for matching just the Powerball to the jackpot, which starts at $20 million and grows until it is won. Other prizes include $7, $100, $50,000, $1 million which can transform until $2 million if you ticked the Power Play on your ticket.
To win the last Powerball prize-tier, you need to match the Powerball at least or 2 main numbers.
There are nine different Powerball prizes available. They range from the grand prize (jackpot) to smaller prizes for matching fewer numbers.