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Mega Millions
31 Jul 2015

28
32
33
40
46
10

PowerBall
29 Jul 2015

4
22
27
28
52
35

California Super Lotto
29 Jul 2015

13
15
33
35
36
15

Euro Millions
31 Jul 2015

16
21
34
40
50
6
9

Michigan Lottery
29 Jul 2015

5
15
16
22
28
43

Florida Lotto
29 Jul 2015

4
16
21
26
41
52

New York Lottery
29 Jul 2015

2
15
18
20
47
58
12

How to Claim Your Powerball Lottery Winning

Powerball Lottery Logo Image

Powerball Lottery Winner: Annuity or Lump Sum?

If you are lucky enough to be a Powerball Lottery jackpot winner, which payout is better - annuity or lump sum?

While this may depend largely on several personal factors, let's take a look at the overall differences between a lump sum payment or an annuitized payment.

First of all, what do these terms mean?

Lump Sum vs Annuity for Powerball Lottery Prize

If you check your ticket or have bought tickets online and the website contacts you to let you know you're the Powerball jackpot prize winner, you will probably be so overcome with surprise and joy to spare much thought for how you'll collect your winnings.

However, when you start coming back down to earth a bit, the question of how to receive your jackpot winnings is likely to be a crucial one for you. Your choices for a payout will be either:

  • Annuity
  • Lump Sum

So, what's the difference? Read on to find out!

If you opt for the annuity payout, it will be spread out over a term of 30 years in 29 payments, with the payments increased year by year as laid out in the game rules.

If you decide to take the lump sum, you will receive your winnings all at once, minus taxes.

Best Payout for Powerball Lottery

You've hit the jackpot, now you have to decide how to get your money - all at once or annual payments for 30 years?

According to financial experts, the average lottery winner would be well advised to take the money as a lump sum and then invest it wisely.

Why?

Because research has shown that about two-thirds of the time, you will reap more dividends by investing a large lump sum than investing smaller amounts over a period of 30 years. Plus, studies have shown that lottery jackpot winners tend to be less likely to blow through their winnings if they take a lump sum and invest it right away.

Either way, if you're fortunate enough to win a big Powerball Lottery jackpot, the choices of how to receive your money are good no matter which one you choose!

How to Claim Your Powerball  Lottery Winning

Sign the back of your ticket and take it to an authorized lottery sales agent for validation. If you win a prize greater than $599, you may need to complete a claim form and send it to the state's lottery commission.

Winning tickets are subject to validation and must be claimed in the state in which they were purchased. The period in which you must claim your winning ticket varies by state:

Connecticut
Delaware
Washington
D.C.
Iowa
Kansas
Minnesota
New Hampshire
Maine
Oregon
Pennsylvania
Rhode Island
Vermont

 

1 year

 

Arizona
Colorado
Idaho
Indiana
Kentucky
Louisiana
Missouri
Montana
Nebraska
North Dakota
South Carolina
South Dakota
Tennessee
West Virginia
Wisconsin 

 

180 days

 

New Mexico  

 

90 days

If you don't live in a state that participates in the Powerball Lottery game, or even if you are outside of the USA you can always buy powerball lottery tickets online.