‘Once in a lifetime chance’ for $1.5 billion Powerball prize

Powerball’s jackpot could go to a single victor. The next chance to find out if you’re a victor is Wednesday night.

The jackpot for the twice-weekly game started at $40 million on November 4 and has been growing ever since.

Buying an additional ticket decreases your odds of NOT winning by a factor of “1 in 292.2 million”.

In 2004, economist Emily Oster theorized in a paper that Powerball would become progressive, meaning wealthier people would spend a greater portion of their income on tickets, if it offered a jackpot of $806 million, which at the time seemed like an unfathomable number.

If a Maryland resident wins big and decides to take the $930 million cash option, they could net $616 million after taxes. But valley lottery agents say those strong ticket sales don’t always generate more overall business for the stores and shops.

(AP Photo/Sue Ogrocki). Momtaz Parvin pulls Powerball lottery tickets from the printer at her store in Oklahoma City, Friday, Jan. 8, 2016, as the multi-state jackpot reaches $800 million.

After the IRS takes a piece of the prize money, local tax collectors will come with their hands out.

The likelihood of a Powerball champion coming from Maryland, he said, is in line with sales levels, which hew to state population – that’s a chance of about 6 million in 322 million.

She bought two tickets at Turkey Hill Minit Market on Carlisle Street on Monday and is heading to a different store tomorrow for more. State lottery websites are normally brought to a standstill during busy periods, while USA Mega normally remains responsive, he says. That has meant a insane time for the 1,200 New Hampshire retailers who sell lottery tickets. Don’t make investments. You can put it in the bank and live comfortably. But in return for matching the first five digits, each person will receive a $1 million prize.

“I honestly don’t know why we don’t have one”, said Castle, explaining that she has friends in OR who are buying her Powerball tickets this week. Divide that by 2.2 winners, and the expected jackpot is actually around $420 million.

Be careful what you wish for, because even after the government pockets its share in taxes, your paltry winnings of, say, half a billion dollars could trigger a massive news conference. Also note that that $1.4 billion is based on a 29-year annuity.