- A fixed percentage of every Mega Millions, Lotto America and Powerball ticket sold goes into each CASH jackpot. The cash jackpot is all the money that the lottery has on hand from the sale of tickets in the game. If a player chooses the cash option, then the lottery will pay entire cash amount to the winner (less income tax withholding amounts required by Federal and State laws).
- The Lottery also offers an ANNUITY jackpot option that can help reduce taxes and offers the winner a 100% guaranteed income stream over time. If a winner elects the annuity option, then the lottery will invest the entire cash amount before taxes are deducted. The difference between the CASH jackpot and the ANNUITY jackpot is the interest earnings that build over time.
- The Powerball, Mega Millions and Lotto America Annuity Jackpot invests more money for a longer period of time. The annuities are paid out in graduated amounts over 29 years (30 payments). The annual payments grow larger to keep pace with the winner's expected cost of living.
- Powerball Xs & Os Jackpot is a cash-only award and is also parimutuel. If more than one winning Jackpot play is sold, the Jackpot amount will be divided equally among all the winning plays from participating lotteries.
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