How many days does it take to give you the money if you win the Powerball jackpot

Remember that if you are not the only person who won, you will have to share the prize.

Photo: Ilya Brin/Shutterstock

If you win the Powerball jackpot, you will surely want to know how long you will have to wait to get your millions. As you well know, the smallest payments are given immediately; if you win a medium amount of money, then they will give it to you the next day. Nevertheless, if you keep the jackpot, you will receive all the money within the next 5-10 daysaccording to Lotto Library.

It should be noted that you can take more time before asking for your earnings, especially if you need to prepare your family for the news or if you want to have the advice of financial experts before collecting.

When it comes to how long you can wait to claim Powerball money, know that you could have up to a year in most states.. The only exceptions are New Mexico, where you have 90 days to claim the prize, Maryland, which offers 182 days, and the Virgin Islands, which offers six months of time.

Once you claim your prize, the money will be paid to you, but you must choose between paying it in several annuities over the next 30 years or receiving a lump sum payment immediately, after those 5 or 10 days mentioned above.

If you agree to have the money in one lump sum right away, you will get approximately 61% of the jackpot. If you opt for annual payouts, you get 100% of the jackpot. To all this, you have to subtract the taxes.

It is best to calculate how much money you would get and for how many years before making a decision.

You also have to know that, if you are not the only person who won, you will have to share the prize.

You may also like:
– Mega Millions: they tell the player that he did not win any prize, but in fact he had withdrawn $1 million dollars
– What are lottery pools and how do they work
– Where is the winner of the $1,337 million Mega Millions? Almost two weeks after the drawing, no one has claimed the jackpot in Illinois
– Scratches vs. Lottery: in which of the two games are you more likely to win
– 8 special tips for immigrants in case of winning the lottery