Powerball Odds and Prizes
The Powerball game has nine different prize tiers and the amounts offered depend on how many winning numbers you manage to match. You can win $4 for matching just the red Powerball. If you are aiming for the jackpot, you need to match all six winning numbers. The starting amount for the Powerball jackpot is $20 million and it keeps on rolling over until it is won, without any jackpot cap or rollover limit.
In California, the pari-mutuel calculations are used. This means that the amounts are based on how many tickets are sold and how many winners there are. Every prize category receives a certain percentage of the overall prize pool, and that amount will be split between all of the winners in each category.
Check out the Numbers page to see the latest Powerball winning numbers from the last 10 draws, along with the number of winners.
Powerball Odds and Prizes Table
As prize amounts differ in California compared to other states, the table below shows the percentage of the prize pool allocated to each category. We have also included the odds of winning for every tier. The overall odds of winning a Powerball prize are 1 in 24.87.
| Prize Level | CA Prize Fund Amount | Odds of Winning | Average CA Prize |
|---|---|---|---|
| Match 5 + Powerball | 60.0% to 68.0% | 1 in 292,201,338 | $272,570,491.80 |
| Match 5 | 8.6% | 1 in 11,688,054 | $1,234,660.17 |
| Match 4 + Powerball | 2.2% | 1 in 913,130 | $28,488.53 |
| Match 4 | 1.1% | 1 in 36,526 | $426.62 |
| Match 3 + Powerball | 1.1% | 1 in 14,495 | $170.15 |
| Match 3 | 1.3% | 1 in 580 | $7.22 |
| Match 2 + Powerball | 1.2% | 1 in 702 | $8.29 |
| Match 1 + Powerball | 5.5% | 1 in 92 | $4.81 |
| Match Powerball | 11% | 1 in 39 | $3.79 |
| Prize Reserve | 0% to 8% | - | - |
Jackpot Payment Options
If you win the Powerball jackpot, you have two options for receiving your winnings. Depending on your priorities and goals, one might seem more advantageous than the other. The jackpot can be paid out as an annuity, or a smaller 1-off cash lump-sum.
With the annuity option, you will receive your winnings in 30 installments over 29 years.
With the cash option, you will get a single payment of the cash value.
Once you pick a payout option, you are not able to change it, so make sure you are happy with your decision. In case there are multiple winning tickets, the first prize will be equally divided among all winners.
Please remember that the advertised Powerball jackpot is never guaranteed and it usually serves just as an estimate. The final amount can be different depending on ticket sales and interest rates for long-term investments.