Powerball is an American

United States

The United States of America is a federal constitutional republic comprising fifty states and a federal district...

 lottery

Lottery

A lottery is a form of gambling which involves the drawing of lots for a prize.Lottery is outlawed by some governments, while others endorse it to the extent of organizing a national or state lottery. It is common to find some degree of regulation of lottery by governments...

 game sold in 44 jurisdictions as a shared jackpot

Progressive jackpot

A progressive jackpot is a jackpot for a gaming machine where the value of the jackpot increases a small amount for every game played...

 game. It is coordinated by the Multi-State Lottery Association

Multi-State Lottery Association

The Multi-State Lottery Association is a non-profit, government-benefit association owned and operated by agreement of its 33 member lotteries MUSL was created to facilitate the operation of multi-jurisdictional lottery games, including Powerball, Mega Millions), video lottery, and instant ...

 (MUSL), a non-profit organization formed by an agreement with lotteries. Powerball is a game whose advertised jackpot starts at $20 million (annuity) and can roll into the hundreds of millions over many drawings. The jackpot is paid as a 30-payment annuity; players may choose cash

Present value

Present value, also known as present discounted value, is the value on a given date of a future payment or series of future payments, discounted to reflect the time value of money and other factors such as investment risk...

 instead.