Apart from the OP said the prize was £168K or £14K a month x 12 = £168K 
How is a lump sum prize amount less than the advertised prize amount, do you have examples 
If it's not detailed in the information (eg £168K paid as £14K monthly for 12 months or a lump sum of £150K) then i'm not sure they could do that 
Some of the US state lotteries do the same thing. Here's an example
External Link/Members OnlyPowerball Payout Guide
Powerball Payout Chart 2026: Lump Sum vs. Annuity Breakdown
Whether you just won Powerball or you are weighing the lump sum against the annuity, this guide breaks down every prize tier, the real tax hit in your state, and what to do if you already chose the annuity and want cash now.
Updated for 2026
All 50 states + DC
After-tax breakdowns
Current Estimated Jackpot
$332 Million
Estimated Lump Sum
$183 Million
After Federal Tax (37%)
$115 Million
This content is for educational purposes only and does not constitute financial advice. Consult a qualified financial advisor before making financial decisions. This content is for educational purposes only and does not constitute tax advice. Tax laws vary by state and individual circumstances. Consult a qualified tax professional or CPA for guidance on your specific tax situation.
The Powerball payout today is an estimated $332 Million jackpot, paid either as a lump sum of roughly $183 Million before taxes or as 30 graduated annual payments totaling the full advertised amount. These figures update with every drawing.
How Powerball Payouts Work
Powerball is one of the two largest multi-state lottery games in the United States, alongside Mega Millions. Drawings are held three times per week (Monday, Wednesday, and Saturday at 10:59 PM Eastern Time), and the game is played in 45 states, Washington D.C., Puerto Rico, and the U.S. Virgin Islands.
There are 9 prize tiers in Powerball, ranging from a $4 minimum prize (matching only the Powerball number) up to the multi-hundred-million-dollar jackpot. All non-jackpot prizes are fixed cash amounts paid in a single payment. Only the jackpot offers a choice between two payout options:
Lump sum (cash option): A single, immediate payment equal to approximately 50–60% of the advertised jackpot. This is the actual cash the lottery has on hand.
Annuity: The full advertised jackpot paid out as 30 graduated annual payments over 29 years. Each payment is 5% larger than the previous one, designed to keep pace with inflation.