Powerball Jackpots Set to Rise Faster After UK Ticket Launch

Powerball jackpots are expected to grow more quickly following the lottery’s expansion into the United Kingdom, with Wednesday night’s drawing marking the first since ticket sales became available to UK players. The move allows residents outside the United States to participate in Powerball for the first time, increasing the number of ticket buyers contributing to the prize pool.

According to Powerball, every ticket purchased in the United Kingdom adds the same amount to the jackpot as a ticket sold in the United States. Rebecca Paul, president and CEO of the Tennessee Lottery, said earlier this month that a larger player base will lead to “faster-growing jackpots” because ticket sales directly fund the grand prize.

Despite the expansion, the odds of winning remain unchanged. Players in both countries must select five numbers from 1 to 69 and one red Powerball number from 1 to 26, leaving the jackpot odds at one in 292.2 million. The odds of winning any Powerball prize remain one in 24.9.

There is, however, a key difference in how winners receive their prize. While U.S. jackpot winners can choose between a lump-sum cash payment or annual installments spread over 30 years, winners in the United Kingdom will only be eligible for the 30-year annuity option. Those payments will be administered by the UK National Lottery. Although the annuity pays more over time, most American winners have historically chosen the lump-sum cash option.

Wednesday night’s estimated Powerball jackpot stands at $567 million after no player matched all the winning numbers in Monday’s drawing. A winner selecting the annuity would receive the full advertised jackpot over 30 years. Choosing the cash option in the United States would result in a pre-tax payment of approximately $251.8 million, which could fall to about $158.6 million after taxes.