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Oklahoma powerball current jackpot12/7/2023 Regardless of which payout you prefer, neither guarantee you’ll be a billionaire (unless you make some good investments with your winnings). If you select the annuity option, you’ll receive a one-time payment, followed by 29 annual payments that increase by 5% annually. The annuity option is the number everyone is familiar with – in this case, it’s the estimated $1.55 billion. The cash option is the amount of money Powerball officials believe is what they’ll have in the prize pool at the time of the drawing and that that is enough to fund the annuity option. The first, and most common (and the one you may want to think twice about), is the cash lump sum, which is estimated at $679.8 million for the current jackpot. If you’re familiar with Powerball, you likely know there are two ways the jackpot is paid out to a winner. Win the Powerball jackpot? Think twice before taking the cash The way the game is structured, plus taxes, will shrink your payout by hundreds of millions of dollars.
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