Lottery is quite an interesting game and can make you a billionaire within seconds. All you need to have a strategic game plan to choose 5 powerball numbers out of 69 numbers, plus 1 out of 26 numbers. If all the chosen numbers match with the lottery numbers, then the grand prize is all yours. However, before grabbing the opportunity, it is significant to get an understanding about the game’s terminologies.
Annuity :– Annuity, also known as annual payout option, is a method in which the grand prize shall be paid to the winner in specific annual instalments.
Drawing :– It is the formal process where a powerball machine randomly picks the winning number and these numbers determines the fortune of the players.
Election :– Election is an irreversible decision that a winner makes within 60 days of winning the grand prize. The decision is made in regards to receiving the entitled game prize either under the annual payout option or in cash.
Game board :– Game boards consists of two sets of numbers – 5 numbers from the set of 69 numbers and 1 number from the set of 26 numbers.
Game ticket :– It is a powerball ticket which contains the details of the game such as the lottery drawing date, ticket serial number, price of the ticket, and a six digit retailer number. Players can only claim their prizes if they have a valid game ticket.
Play slip :– It is slip given to the players marking their active game and usually contains one or more boards on it.
Pari mutuel :– It is the total amount allocated to the prize money at the designated game levels, divided among the total number of powerball game wins.
Power play :– A powerplay feature allows the player to increase the guaranteed prize for an additional wager per play.
Product group :– When a group of lotteries are joined together it is known as product group. It offers a product pursuant in accordance to the group’s terms and the multi-state lottery agreement.
Retailer :– A person or entity entitled to sell authorized lottery tickets to the players.
Grand prize :– It is the highest prize money of the powerball game. A winner is selected in accordance to the game rules.
Winning numbers :– These are 6 numbers in total, first 5 from the set of 69 numbers and the last one from 26 numbers. The players randomly select the numbers, which are used to determine the winning plays contained on a game ticket.