Things to Know About the Giant Powerball Jackpot - WBOC-TV 16, Delmarvas News Leader, FOX 21 -

Things to Know About the Giant Powerball Jackpot

Posted: Updated:
(Photo: AP) (Photo: AP)

DES MOINES, Iowa (AP)- The odds aren't great, but Powerball players across the country will have a shot Saturday night at a record-breaking $675 million jackpot.
    
Because no one won Wednesday's estimated $500 million jackpot, the next Powerball drawing has pushed the prize to the biggest ever, beyond the previous record of $656 million. That Mega Millions prize was won in 2012 by players in Kansas, Illinois and Maryland.
    
Powerball is played in 44 states, the District of Columbia, the U.S. Virgin Islands and Puerto Rico.
    
Here are more details about the giant jackpot:
    
___
    
HOW DID THE JACKPOT GET SO LARGE?
    
The jackpot for the twice-weekly game started at $40 million on Nov. 4 and has been growing ever since. Because the payout is based on sales, the prize has grown more quickly as the jackpot has increased because more people have been drawn to play. In anticipation that people will rush to buy tickets, officials with the Multi-State Lottery Association estimate that Saturday's jackpot will reach $675 million, but it's possible they could raise it again before the drawing.
    
___
    
PAYMENT OPTIONS
    
The prize would have a cash option of $413.1 million, and that's before taxes are deducted. The $675 million prize is based on an annuity, which would pay out the money over 29 years.
    
___
    
THE ODDS? NOT GOOD.
    
The odds are one in 292.2 million, which means you're really, really, really unlikely to win. By comparison, your chance of being struck by lightning in a year is about one in 960,000. But as lottery officials often note, you have no chance of winning if you don't buy a ticket.
    
___
    
POOLING YOUR MONEY
    
Some players feel they increase their odds of winning by pooling their money with co-workers, with a promise to split the winnings. Joining with colleagues and friends can increase the fun of playing, but the odds of winning are so tiny that adding 50 or 100 chances doesn't matter much. Lottery officials recommend that if people pool their money, they put down rules in writing for splitting the prize, as it's easy for misunderstandings to crop up when hundreds of millions of dollars are at stake.

  • Delmarvawide NewsDelmarvawide NewsMore>>

  • Delaware State Police Seek Help in Identifying Bank Robbery Suspect

    Delaware State Police Seek Help in Identifying Bank Robbery Suspect

    Saturday, September 22 2018 3:25 PM EDT2018-09-22 19:25:26 GMT
    Saturday, September 22 2018 3:25 PM EDT2018-09-22 19:25:26 GMT
    Suspect WantedSuspect Wanted
    Suspect WantedSuspect Wanted
    NEWARK, Del.- The Delaware State Police are asking the public for assistance in identifying a bank robbery suspect.More
    NEWARK, Del.- The Delaware State Police are asking the public for assistance in identifying a bank robbery suspect.

    More
  • Rehoboth Considers Potential Parking Solutions

    Rehoboth Considers Potential Parking Solutions

    Saturday, September 22 2018 3:11 AM EDT2018-09-22 07:11:01 GMT
    Saturday, September 22 2018 3:16 AM EDT2018-09-22 07:16:27 GMT
    Downtown Rehoboth Beach (Photo: WBOC)Downtown Rehoboth Beach (Photo: WBOC)
    Downtown Rehoboth Beach (Photo: WBOC)Downtown Rehoboth Beach (Photo: WBOC)
    Some in Rehoboth Beach say they're fed up with searching for parking in prime locations--like along Rehoboth Avenue. Today the city's parking advisory committee presented those solutions to the Board of Commissioners.More
    Some in Rehoboth Beach say they're fed up with searching for parking in prime locations--like along Rehoboth Avenue. Today the city's parking advisory committee presented those solutions to the Board of Commissioners. More
  • Investigation Finds Maryland Culpable in Death of Player

    Investigation Finds Maryland Culpable in Death of Player

    Saturday, September 22 2018 12:08 AM EDT2018-09-22 04:08:32 GMT
    Saturday, September 22 2018 12:08 AM EDT2018-09-22 04:08:32 GMT
    An independent investigation into the death of University of Maryland football player Jordan McNair has determined that trainers on the scene did not follow proper procedures after he collapsed on the field.More
    An independent investigation into the death of University of Maryland football player Jordan McNair has determined that trainers on the scene did not follow proper procedures after he collapsed on the field.More
Powered by Frankly

All content © Copyright 2000 - 2018 WBOC. All Rights Reserved. For more information on this site, please read our Privacy Policy, and Terms of Service, and Ad Choices