The drawing for Saturday night's Powerball jackpot has generated another large lottery jackpot. There is no doubt that if someone has all six numbers they will take away a prize that is worth around $760 million!

What if you were to win the prize? Do you know what you would do?

There are two ways to take the prize if you have matching numbers. If you take the annuity then you receive continual payments each year until the entire amount of the jackpot has been given to you. As a winner, you can also decide to go in the other direction. You can take a cash prize which is typically about half of the amount of the jackpot.

As we have all been wondering about winning the Powerball, I began to wonder if there are things about the Powerball game I don't know about, and I am fascinated by what I found.

What Happens If I Pick the Annuity?

If you are a Powerball jackpot winner, and you choose the annuity option, you will get the entire balance of money paid out to you in an installment each year for 30 years. What happens if you die? The Powerball website explains the money will still be paid to you via your estate once a year.

There Are a Handful of States that Don't Have Powerball

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These states do not offer the ability to play the Powerball game, and they are as follows:

  • Alabama
  • Alaska
  • Hawaii
  • Nevada
  • Utah

If I Don't Live in a Powerball State, Can I Win?

What if you are visiting from some other country and you get caught up in lottery fever? Can you buy a ticket? Yes, you can buy a ticket and win. The same goes for residents of states and U.S. territories that don't have Powerball. You can go to any other state or territory that sells Powerball tickets, and if you pick all the numbers, you win the jackpot.

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The Odds of Winning a Jackpot Lottery Are Slim

The chances of someone actually winning the Powerball jacket are very slim. Our chances of actually getting the six numbers right are 1 in 292 million!

Deadline to Redeem Your Ticket

If you are one of the lucky winners who hits the Powerball jackpot you need to read the rules on the back of the ticket to find out how long you have before your ticket expires. Each state or jurisdiction is different. Typically you have between 90 days and a year to claim your prize. In the state of Louisiana, you have about half of a year to claim your prize. From the time you win, you have 180 days to redeem your ticket.

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If I Win the Jackpot Can I Remain Anonymous?

It is written into state law that if you win a prize of more than $600, your information is available under our open-records laws. Anyone can request the information. However, any good attorney will tell you to keep your mouth closed about your lottery win both before and after you have collected your prize.

Why It's So Important to Sign Your Ticket

Here is a scenario maybe you haven't thought of. What if someone steals your ticket? Lottery policy states they will only pay a prize once. Your only other recourse is to sue that person. You can also call the police and explain they stole it, but how would you prove that? That's why officials recommend that as soon as you get your ticket at the store you sign it.

Good luck if you decide to buy a ticket!

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