On the other hand, the annuity option awards the winner with the full amount or 100% of the jackpot – starting with one initial payment, followed by annual payments over the next 29 years. Lump Sum/Cash Option Calculator Gross Payout (~61% of the jackpot)Īs you might already know, when a player wins the Powerball jackpot, they have to choose between a single lump sum or 30 annual payments to receive their prize.Ĭhoosing the lump sum, also known as the cash option, reduces the jackpot size to approximately 61% of the original amount, but awards it all at once to the player. Lottery Calculators: From Odds to Taxes.Powerball Calculator: Payout, Tax & Annuity Explained.Mega Millions Payout Calculator: Payout, Tax & Annuity Explained.Lottery Odds Calculator: Calculate Your Odds of Winning The Lottery.
