Powerball is one of the two biggest multi-state lottery games in the U.S., played in 45 states plus Washington D.C., Puerto Rico, and the U.S. Virgin Islands. It launched in its modern form in 1992 and has been redesigned several times since to adjust jackpot growth and odds — most recently in 2015, which widened the number pools and made jackpots larger but rarer. Powerball has produced some of the biggest lottery prizes ever recorded, including multiple jackpots over $1 billion and the largest jackpot in U.S. lottery history.
Like Mega Millions, the jackpot starts at a fixed minimum and grows every time a drawing passes without a winner. A portion of each drawing's ticket sales feeds directly into the jackpot, on top of whatever rolled over from the previous drawing — which is why a jackpot with several consecutive misses tends to grow faster the longer the streak continues, as media coverage drives more sales. Once someone matches all five white balls plus the red Powerball, the jackpot resets to the starting minimum for the next cycle.
Jackpot winners choose between the full advertised prize paid as an annuity over 29 years, or a lump sum paid immediately at the jackpot's present cash value — generally around half to 60% of the advertised total before taxes. Federal withholding of 24% applies automatically to prizes over $5,000, and most states withhold their own tax on top of that. Smaller prizes, from $4 up to $50,000, can usually be claimed at the retailer where the ticket was bought or any other licensed Powerball retailer in the state.