So if I were to play the powerball and win - as unlikely as that is - at eurolotto - They would pay out over $1 billion?
Hey there! Well, the actual amount we’d payout really depends on the total amount of winners, eventual jackpot amount etc…So if Powerball announce 1 winner and you have a winning bet at EuroLotto; we'd divide the total jackpot and payout accordingly - please see my more detailed answer below! And good luck
The PowerBall offered at EuroLotto is a Bookmaker game based on the American “Powerball” lottery organised by the Multi-State Lottery Association (MUSL). The jackpot winnings payable by EuroLotto/the bookmaker will depend on the number of winning jackpot tickets announced by MUSL, the number of winning bets at EuroLotto and the payable Prize by the MUSL. It is intended that a player at EuroLotto, who chooses to bet on PowerBall is put in the same or in a better economic position as if they had played the underlying lottery.
So, if a EuroLotto player matches all 5 numbers + the powerball:
The jackpot amount will be equal to the jackpot announced by the MUSL, less 35% withheld by the bookmaker. 35% is the approximate amount the US government impose on winning players in taxes.
If a EuroLotto player has a winning bet; AND the MUSL announce a winner; EuroLotto will pay the sum the player would have received if he played and won the Powerball in the US (he would be one of two winners).
As is common with the MUSL Powerball lottery, EuroLotto/the bookmaker also pays out Jackpot winnings over 30 years (the “Annuity Option”). The first payment will be made as soon as possible after the draw, with the next 29 payments at one-year intervals. The level of payments is calculated such that the payments rise 4% from year to year until the full sum has been paid out. The option to receive one lump sum (“Cash Option”) is not yet available at EuroLotto.
For clarity; if a winning ticket is purchased in the US, players can choose to receive the full amount in 30 graduated annuity payments throughout 29 years, minus taxes; or receive approximately one-half the advertised prize amount in one lump payment, minus taxes.