Where does the money for the $1.6B Powerball PowerPlay jackpot come from?
From Halloween into the first week of November the Powerball PowerPlay has offered its largest jackpots all year with annuitized amounts in the billions.
The estimated annuitized jackpot for Saturday’s drawing was $1.60 billion, which had an estimated cash value of $782.4 million.
Powerball has the highest starting jackpot of any lottery game in the country, according to the Texas Lottery, and is operated by the Multi‐State Lottery Association. The add-on feature PowerPlay gives players a chance to increase their non‐grand/jackpot prize winnings for a dollar more per play.
Where is the Powerball played?
Powerball tickets are sold for $2 per play in 45 states, the District of Columbia, Puerto Rico and the U.S. Virgin Islands.
Where does the money for the Powerball PowerPlay jackpot come from?
Powerball is a 50/50 game, which means 50% of the $2 ticket sold in Texas goes toward paying prizes, a Texas Lottery spokesperson said.
One dollar of the ticket is split into 68 cents for the jackpot prize pool and 32 cents for the lower-tier prize pool. The other dollar of the ticket stays in the jurisdiction it was purchased.
Where does the money from Texas Lottery tickets go?
In Texas, the other dollar of the ticket goes toward operating expenses, retailer commissions and contributions to the Foundation School Fund, a state program that contributes to public schools.
The Texas Lottery has contributed $29.8 billion to the Foundation School Fund since 1997. For fiscal year 2022, the Texas Lottery transferred $1.972 billion to the fund.
Where can I watch Powerball drawings?
Drawings can be viewed live on both the Texas Lottery and Powerball websites.
Where can I claim my prize?
The Texas Lottery recommends contacting your local claim center or calling 800-375-6886 to make sure you have all the necessary information before traveling to claim your prize.
Prizes over $5 million, all Lotto Texas, Powerball and Mega Millions jackpot prizes, and prizes paid by annuities must be processed at the Texas Lottery headquarters in Austin. Call the Texas Lottery headquarters to make an appointment before claiming your prize.
