Powerball is known for producing some of the largest lottery jackpots in history including the record breaking $2.1 billion jackpot won by a ticket purchased in Altadena, California in 2022. The annuity is paid in 30 graduated installments over 29 years with each annuity payment increasing 5% annually, whereas the lump sum payment, with a cash value of about half of the advertised jackpot, is paid all at once. Powerball jackpot winners have the choice of taking the annuity or lump sum cash prize. Powerball's minimum jackpot starts at $20 million annuity. Eastern Time some lotteries cut off sales earlier. The official cutoff for ticket sales is 10:00 p.m. Each play costs two dollars, but players in some states can add Power Play, which allows players to increase the payout of their winning numbers, or Double Play, which allows players to use their numbers in a second, concurrent drawing with a different prize pool, each for an additional dollar. The winning numbers are made up of five "white balls" from a matrix of 69 and one "Powerball" from a matrix of 26, resulting in jackpot odds of 1 in 292,201,338 per play. Eastern Time, at the Florida Lottery's headquarters in Tallahassee. Drawings are held three times weekly on Mondays, Wednesdays, and Saturdays at 10:59 p.m. It is overseen by the Multi-State Lottery Association (MUSL), which also manages other large jackpot games such as the Mega Millions. Powerball is an American lottery game offered by 45 states, the District of Columbia, Puerto Rico and the U.S.
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