subject: Things You Must Know to Claim Powerball Lottery Prizes [print this page] Things You Must Know to Claim Powerball Lottery Prizes
Powerball prizes are so attractive that people from different states have started trying their luck at this popular online lottery game. If you are among these people, the one thing you must know is how to claim the Powerball lottery prizes.
In general, Powerball lottery winners need to make a claim for the prize money within the time period from 90 days to one year. Learn about the different aspects and rules in advance to obtain more information about this world-famous lottery game.
Some Important Things to Know
Before you purchase tickets for Powerball, you must know that the minimum age for participation is 18. However, this is an exception in Nebraska, where the minimum age for playing is 19. Also, the age limit to participate in Powerball lottery is 21 in jurisdictions like Iowa, Arizona, and Louisiana.
Another thing you must know is that interested players are allowed to buy Powerball lottery tickets from any other state as well. This means that the claim for the prize must be made in the same state from which you purchase the ticket for this lottery game.
Claiming for Cash or Annuity
Powerball is one lottery game that allows lottery winners to choose among cash or annuity payout options. However, the winners don't have to make the choice unless they are making a claim for the prize. There are 60 days granted to the winners to make the choice after claiming the prize money.
However, in Florida and Missouri, the granted 60 days begins as soon as the draw is held and the results are announced. This means that the winners have to hurry if they wish to obtain the prize through cash option. Idaho is the jurisdiction in which 30 days are granted to the Powerball lottery winners to choose among cash and annuity options after making the claim.
The cash option was introduced in the year 1997, and at that time, players were asked to make the choice between cash and annuity right at the time of buying the tickets. However, this restriction was eliminated in the year 1999. Today, jurisdictions like New Jersey and Texas require players to make the choice while playing. New Jersey goes a step further and allows the winner to convert the annuity option to cash after winning the prize.
There are some states where the prize money in Powerball is exempted from local taxes. These include Pennsylvania, South Dakota, Delaware, and the District of Columbia.
You can also learn more about the procedure to claim Powerball lottery prizes via online ticket retailers. Apart from selling Powerball tickets, these websites offer useful information to lottery players.
