"Powerball is a multistate lottery in which players pay $2 to pick five numbers from 1 to 69 and a separate red Powerball from 1 to 26. Drawings are held twice a week, and the jackpot is won only by matching all six numbers. If no one wins, the prize rolls over and grows. Not including a hefty sum of taxes, the winner can choose between a lump sum payment or an annuitized prize paid over 30 years."
"The odds of winning the Grand Prize are about one in 292,201,338, per Powerball. An entrant would need to pull the exact right ticket - and that's if the winning ticket is even sold. Instead of winning the $1.7 billion, you would have better odds to: Even if one does win the Powerball, there is no guarantee that their life will improve in the long run, depending on how they deal with their sudden and enormous wealth."
The Powerball jackpot has reached $1.7 billion, with jackpot won only by matching five numbers and a separate Powerball. Players pay $2 per entry; drawings occur twice weekly and prizes roll over when no ticket matches all six numbers. Winners may choose a lump sum or a 30-year annuity before taxes. The odds of winning the grand prize are about 1 in 292,201,338, making victory exceptionally unlikely. Statistical comparisons show winning is far less likely than many rare events. Even a jackpot winner may face financial and personal challenges depending on how sudden wealth is managed.
Read at Business Insider
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