How a UK Powerball jackpot is paid, and why it is £404 million when America's is $760 million

On the same Powerball drawing, American players see a $760 million jackpot and British players see £404 million. Exchange rates explain only part of it. The two numbers measure different things. The US figure is the total of 30 annual payments before any tax, and the UK figure is The National Lottery's estimate of what a winner actually receives over 30 years after exchange rates and UK tax. Figures are as of October 31, 2026.

UK winners also can't take the money at once. Asked whether the jackpot can be taken as a lump sum, The National Lottery answers “No, a Powerball jackpot is only available as a payment over 30 years.” It says the long schedule lets winners collect a larger total than a one-time payment would. American winners can choose a cash option instead. For Saturday's drawing it is $325.7 million.

On tax, the lottery says the first payment is not taxable, but the investment income built into the later annual payments is, and the advertised jackpot already allows for it. If a winner dies before the 30 years are up, the estimated value of the remaining payments goes to the estate as a lump sum. Winners don't have to go public.

The National Lottery hasn't published how much the payments grow each year. If they rise 5% a year, as the US payments do, £404 million would start near £6.1 million and end near £25 million, averaging about £13.5 million. The UK Powerball page shows that estimated schedule year by year, and the US annuity schedule shows the American version.

The smaller prizes carry fewer caveats. Five main numbers without the Powerball pays a fixed £1 million, and UK players have won it at least three times since the game launched on July 21. Draws happen early Tuesday, Thursday, and Sunday mornings UK time, and tickets close at 11:55pm the night before. The jackpot's growth since launch is tracked in our jackpot run analysis and on the Powerball analysis page.

How we did this. The payment rules, tax treatment, death benefit, fixed prize, and odds are from The National Lottery's About Powerball page. The US jackpot and cash option, and the UK jackpot, are from official figures in our draw database on October 31, 2026. The yearly UK estimate assumes a 5% annual step, which The National Lottery hasn't confirmed.

Sources

The National Lottery: About Powerball

The National Lottery: Powerball

Powerball: Current jackpot