American Powerball results regularly top all the other lotteries in the world and offer record-breaking jackpots. The biggest lottery jackpot ever was the incredible $1.6 billion prize won by three winning tickets in January 2016. Each of these winners claimed a $327.8 million prize (after taxes were deducted). No other lottery has ever offered a jackpot anything near that unbelievable amount.
At the time, people from all over the world, including from Australia, flocked to their nearest lottery ticket retailer or purchased their US Powerball tickets online at sites such as powerball-australia.com. Aussies were glad to get into the action and although the jackpot prize didn’t go to a lucky player from Down Under, it could happen next time!
Of course, not every jackpot is that big, but there are still millions of dollars’ worth of secondary prizes, which make playing the Powerball all the more worthwhile. If you’re in Australia, you should buy your Powerball tickets now so that you don’t miss the next draw.
How Do You Get Paid When You Win?
If you win one of the many Powerball secondary prizes, you’ll be paid in cash. But if you win the huge jackpot prize, you’ll be able to choose how you prefer to get paid.
You can choose to take your entire jackpot prize as one lump cash sum. If you do this, you know exactly how much cash you will receive in total and you can immediately make your decision what to do with that money. Hint: Don’t spend it all at once!
Alternatively, you can choose to receive your payment in yearly installments. These payments are called annuities and the cash is paid to you over a period of 30 years. Why would you choose this option? Instead of spending all the prize money at once, you have guaranteed yourself a lifelong income.
Consider your options carefully, but remember one important thing. If you don’t play the Powerball lottery, you will never win Powerball prizes!
Largest Lottery Wins in Australia
Four lucky Aussies shared an AU$111.9 million jackpot prize in the Oz Lotto back in November 2012. Each winner received an AU$27.9 million share of the prize.
The biggest Australian lottery win on a single ticket was hit twice, at AU$70 million. Once was in December 2013 and the other time was in January 2016.
These are nice lottery prizes indeed, but they pale in comparison to the huge jackpot prizes offered by the US Powerball.