The annuity payout calculator below shows a breakdown of the gross annuity value for the current jackpot, and the applicable federal and state tax for each year. Jackpot winners can either take the money as an immediate. The payouts are graduated so they increase 5 percent year-on-year. The Powerball jackpot grows based on game sales and interest, but the odds of winning the big prize stays the same - 1 in 292.2 million. If you opt for the annuity payout you will receive the jackpot amount as a series of 30 annual payments over 29 years.