Three Things You Need to Know About This US Powerball Draw

12 May 2013

US Powerball’s jackpot is now at a staggering $350 million, a captivating sum which stands to pique the interest of lottery players around the world. Here are some answers to frequently asked questions about the world’s biggest jackpot and the leader on theBig.

Now on its twelfth consecutive roll over, US Powerball’s top prize is rapidly growing and sitting prominently atop the list of the world’s biggest jackpots with a gigantic $350 million prize! This enormous jackpot follows a $338 million win from March 23rd. As Wednesday’s draw approaches, lottery fans around the globe are keeping a close eye on this American lotto giant as it teeters on the edge of another record that could shatter the $588 million precedent from November of last year. Here are a few frequently asked questions that players have on their mind as ticket sales soar, expectations rise, and the next draw approaches with one of the year’s largest jackpots to date.

How do I get my winnings if I hit the jackpot?

If you match all five numbers and the Powerball number required to claim the top prize, you will receive an immediate notification from theLotter’s customer service team to coordinate the win collection. theLotter will pay your travel expenses to our local office, transfer the ticket to you with the local office manager in the presence of theLotter’s legal team, and assist you to collect the prize from official Powerball headquarters.

What taxes do I have to pay?

Powerball has a required 36% tax rate. For all jackpot wins, how you choose to receive your winnings will impact taxation. Depending on whether you choose to receive the winnings in a lump sum or as an annuity option, the taxes you pay will be different. For more information on the differences between annuity and lump sum, refer to the FAQ page here.

Can I play Powerball and receive winnings if I’m not a US citizen?

Of course you can! With over 40 lotteries from around the world all at your fingertips, it is no problem for people outside of the United States to play US Powerball! In fact, theLotter is proud to boast a lucky $1 million Powerball winner from London! Read more about theLotter’s $1 million Powerball lottery winner here .

After last week’s $270 Powerball jackpot produced no winners, the top prize jumped a staggering $80 million! This US lotto giant is on the road to a bigger prize pool and exciting rollovers, forecasted above and beyond the lottery’s standard $10 million rollover addition. Powerball reached its record $588 million sum on the wings of repeat rollovers and last-minute rushes on ticket sales before each draw that forced the jackpot higher between draws.

The next Powerball draw is this Wednesday, May 15th at 23:00 GMT. Make sure to enter your numbers for this amazing prize here and stay tuned for more important changes in the lottery through the week!