The Powerball Lottery is a multi-state lottery run in all but 8 of the US states, as well as the District of Columbia and the Virgin Islands. It replaced the Lotto America lottery in 1992, and was the first lottery game to use two drums.
Winners are drawn on Wednesday and Saturday nights at 10:59 PM Eastern Time. The drawings are done at Universal Studios in Orlando, Florida and announced on television, on the Powerball website, and in newspapers.
The Powerball Lottery offers a Jackpot which starts at $40 million and grows by at least $10 million each time the Jackpot is not awarded. The jackpot can, and often does, reach values of hundreds of millions of dollars.
Other levels of cash prizes are also awarded. The value of the prize you'll receive if you win depends on how many numbers you correctly guess.
What's the tax bill on a $1.4B Powerball win? Visit cnbc.com to know more.
7-time lottery winner shares tips for winning Powerball featured at wsbtv.com.