Powerball is an American lottery operated by the Multi-State Lottery Association (MUSL), a consortium of lottery commissions in 29 states, the District of Columbia, and the U.S. Virgin Islands. Powerball is licensed as the monopoly provider of multistate lotteries in these jurisdictions.
Started in 1988 as Lotto America, the game, and name, was officially changed to Powerball on April 19, 1992. The matrix has been changed periodically. On March 4, 2001, an optional multiplier wheel was added. On November 2, 1997, the annuity period was changed from 20 to 25 years, and the cash option was added. The annuity currently consists of 30 graduated payments (increasing annually) over a period of 29 years.
Powerball is a lotto game which is a combined large jackpot game and a cash game. Every Wednesday and Saturday night at 10:59 p.m. Eastern Time, they draw five white balls out of a drum with 55 balls and one red ball out of a drum with 42 red balls.
Players win by matching one of the 9 Ways to Win. The jackpot (won by matching all five white balls in any order and the red PowerBall) is either an annuitized prize paid out over 29 years (30 payments) or a lump sum payment. If the winner chooses the annuity, the annual payment will be increased each year by the percentage set out in the Powerball game rules.
