Powerball 101: How to play
For some it’s pretty simple. However, for others who don’t regularly play the lottery it may be a bit more challenging. Here are quick tips on how to play the game of Powerball, and the different ways you can win:
First off, Each ticket costs $2. You can choose whether to pick your own numbers, or have the computer draw the numbers for you. (Quick pick option) Keep in mind that draw sales cut off at least 59 minutes before the draw, so get that ticket as soon as you can.
Trying to win that jackpot? 1.5 Billion dollars is at stake, but when all those taxes are taken out, the number drops down to $930 million- which isn’t such a bad number.
That jackpot is won by matching all five white balls in any order and the red Powerball. Players can either choose an annualized prize paid out over 29 years (30 payments counting the first immediate payment) or a cash lump sum payment. If you choose the cash, then you get the cash, pay the tax, and can invest what is left over. If you choose the annuity, then we can invest the cash amount pre-tax, less an immediate first payment (more to invest means more earnings). With the annuity, you get an annual payment that is increased by 5% each year to keep up with the cost of living.
The second prize – won by matching five white balls in any order – is $1,000,000 paid in cash (no annuity option). You win by matching at least three white ball numbmers. Any time you match the red Powerball, you win a prize. The overall odds of winning a prize in the game are approximately 1 in 25. Players win a prize by matching one of the 9 ways to win.
Before those winning numbers are called SIGN THE BACK OF YOUR TICKET! On the back of every ticket is an area where you can put down all your information. Signing the ticket is important because if in case you lose your ticket and someone else finds it, your information is already on the ticket. This makes it more difficult for someone else to claim the prize.
Now, If you do hit the jackpot, experts suggest keeping it quiet until you have a game plan. Lottery officials recommend assembling a team of financial experts before claiming your prize.
If you plan on taking part in tonight’s Powerball game, good luck, and may the odds be ever in your favor!
Courtesy: Powerball.com
