Powerball Odds & Payouts Explained

Powerball is known for its massive jackpots, but the odds of winning vary depending on the prize tier. Every ticket has the same chances, regardless of the numbers chosen.

What Are the Odds of Winning Powerball?

The odds of winning the Powerball jackpot are approximately 1 in 292 million. These odds are based on matching all five white balls plus the Powerball.

While the jackpot odds are extremely low, there are multiple prize tiers with better chances of winning smaller amounts.

Powerball Prize Tiers

• Match 5 + Powerball: Jackpot
• Match 5: Second prize
• Match 4 + Powerball
• Match 4
• Match 3 + Powerball
• Match 3
• Match 2 + Powerball
• Match 1 + Powerball
• Match Powerball only

Each tier has fixed or variable payouts depending on the prize level and state rules.

Cash Option vs Annuity

Jackpot winners typically choose between a lump-sum cash payout or an annuity paid over multiple years. The advertised jackpot amount usually reflects the annuity option.

Taxes and state regulations can significantly affect the final amount received.