How Long After Winning The Lottery Do You Get The Money?

By Milo Cruz
Last Updated: June 30, 2019

Not very long, as it turns out.

How long after winning the lottery do you get the money?

How long does it take to get lottery winnings?

Processing times as well as prize thresholds vary with each state, but generally speaking, the larger the prize, the longer it will take to collect your winnings.

No cause for alarm, however. You’ll get your money within a reasonable amount of time no matter what. Once you have come forward with the winning ticket, you can expect the typical scenarios:

  • Small prizes up to $600: Paid out immediately.
  • Mid-range prizes: Paid out on the same day or the next banking day.
  • Jackpot prizes: Paid out in 5 to 10 banking days.

How long do you have to claim a Powerball ticket?

Depending on where you purchased your Powerball ticket, you have between 90 days to one year after the drawing to claim your winnings. Beyond that, your ticket expires and you forfeit your prize. You can also look at the back of your ticket for its expiration date.

Or check out this table of Powerball claim periods for all territories the game is available in:

Claim PeriodJurisdiction
90 DaysNew Mexico
180 DaysArizona, Arkansas, Colorado, Connecticut, Florida, Georgia, Idaho, Indiana, Kentucky, Louisiana, Missouri, Montana, Nebraska, North Carolina, North Dakota, Ohio, Oklahoma, South Carolina, South Dakota, Tennessee, Texas, Virginia, Washington, Washington DC, West Virginia, Wisconsin, Wyoming
182 DaysMaryland
1 YearDelaware, Illinois, Iowa, Kansas, Maine, Massachusetts, Michigan, Minnesota, New Hampshire, New Jersey, New York, Oregon, Pennsylvania, Rhode Island, Vermont
  • In California, the claim period is 1 year for the jackpot, and 180 days for other prizes.
  • In Puerto Rico, the claim period is 180 days.
  • In the US Virgin Islands, the claim period is 6 months.

Remember that you must claim your winnings in the jurisdiction where you purchased your lottery ticket.

How long do you have to claim a Mega Millions ticket?

For Mega Millions, claim periods for each state and jurisdiction are the same as Powerball’s. The only difference is that Puerto Rico is not on the list, since the game is not available in that country.

Find out how long you have to claim your Mega Millions ticket based on your state in the table below:

Claim PeriodJurisdiction
90 DaysNew Mexico
180 DaysArizona, Arkansas, Colorado, Connecticut, Florida, Georgia, Idaho, Indiana, Kentucky, Louisiana, Missouri, Montana, Nebraska, North Carolina, North Dakota, Ohio, Oklahoma, South Carolina, South Dakota, Tennessee, Texas, Virginia, Washington, Washington DC, West Virginia, Wisconsin, Wyoming
182 DaysMaryland
1 YearDelaware, Illinois, Iowa, Kansas, Maine, Massachusetts, Michigan, Minnesota, New Hampshire, New Jersey, New York, Oregon, Pennsylvania, Rhode Island, Vermont
  • In California, the claim period is 1 year for the jackpot, and 180 days for other prizes.
  • In the US Virgin Islands, the claim period is 6 months.

If you win the lottery, how do you get the money?

How does the lottery payout work?

For most lotteries, the grand prize or jackpot is paid out to winners in a single lump sum (cash option) or over 20+ graduated payments (annuity option).

The cash option for Powerball and Mega Millions is typically equivalent to ~61% of the advertised jackpot. This is the amount of the prize pool that is allocated to funding the jackpot.

The annuity option is equivalent to 100% of the advertised jackpot, and is based on the funds in the prize pool, expected ticket sales, and current market interest rates. Annuity payments are usually paid out over 29 years, although different lotteries and jurisdictions may have varying rules.

In the event of multiple jackpot winners, the prize is divided equally between them.

Secondary prizes are usually fixed amounts, and are paid out in cash.

As for taxes, it depends on the lottery and its local laws. Generally speaking however, big lottery prizes are considered taxable, while smaller amounts are not. If you want to get a more detailed look at all the math involved, or just want to perform your own calculations, please feel free to check out our lottery calculators page for specific numbers and formulas.

How to Claim Lottery Winnings

The first thing you should do is make sure you’ve signed the back of your ticket.

Next, bring your ticket to the relevant lottery authority to claim your winnings. For most US lotteries, winnings up to $600 can be claimed directly from any authorized retailer. Larger prizes including the jackpot can be claimed from claim centers, district offices, or the lottery headquarters, depending on the amount. This will also require the winner to complete a claim form and provide valid forms of identification.

In many states, secondary prizes can also be claimed by mail. Check with your local lottery operator to see what your options are.

If you purchased your ticket online, chances are your prize is already in your player account. If you won a significant sum, you have to contact the lottery operator to claim your winnings.

And please remember to redeem your ticket within the time period allowed. Check the table above for Powerball and Mega Millions claim periods.

How to Claim Powerball and Mega Millions Winnings

Same steps as mentioned above, but take note of the following when claiming Powerball and Mega Millions winnings:

  • Powerball and Mega Millions jackpot prizes can be paid out in a single lump sum, or 30 graduated payments over 29 years.
  • In most jurisdictions, winners have 60 days after claiming their ticket to choose between the lump sum or annuity option. There are some exceptions, however. In Texas for example, players must choose between the cash or annuity before paying for their lottery ticket.
  • Federal and applicable state income taxes will automatically be deducted from your winnings.

Finally, take a look at our guide on What to Do After Winning the Lottery where we’ll give you our recommendations on how to handle big lottery wins.

Also check out the following tools for calculating your winnings to help you plan ahead: