The minimum jackpot amount starts at $40 million and when there are no jackpot winners in a draw, the prize rolls over and is even larger for the next future draw. When a winner wins the Powerball jackpot, they have the opportunity to choose between a cash option and an annuity which gradually pays out the winnings over a period of 30 years.
The taxes on your winnings would differ, however. Usually, federal taxes on a non-US citizen are around 30%. Individual states have different tax structures, too and that’s something to be aware of. In summary, even if you’re not a US citizen, you can still play and win Powerball, and you are responsible for paying the same amount of tax as any other US citizen would pay.
If the jackpot is won by more than one individual then the prize will be equally split amongst the winners. When looking at a current Powerball jackpot, the player must keep in mind that the amount seen represents the total payments that would be paid to the winner if they claim their prize using the annuity option.
If there is no winner in a draw, then the prize pool rolls over into the next drawing, thereby creating an even bigger jackpot. This prize pool is the cash that will then be paid out to the jackpot winner if they decide to choose the cash option.
A player doesn’t necessarily have to win the jackpot to win a prize in a Powerball draw. There is also something called “consolation prizes” which means that if a player lands in any other tiers, they could win a prize depending on how many numbers they have matched. Let’s break it down.