Money is No Object? Here’s How to Guarantee a Powerball Win
Saturday's drawing for Powerball is now a world record $1.6 billion dollar jackpot. Did you realize, there is a way to guarantee that you'll win the Powerball jackpot? It's true.
Here's how: You would actually have to purchase all 292,201,338 combinations of possible numbers and that would cost you $584,402,676 million at $2 per ticket. On the surface, it seems like that would be a hefty profit, but nothing is that easy, right?
For starters, you'll have to figure out how much time it would take to process $293 million different combinations using a ticket system that's already slowing down the line at your favorite convenient store. I suppose you could use an app or computer, but good luck watching the system overload when buying 584 million combinations. Then, there's the huge problem that there could be one or more additional winners with the winning combination, and obviously, each of the winning ticket holders split the jackpot.
But it's worse than that.
Once taxes come into play, and you decide whether you're going to take the annual payments or the lump sum prize spread out of 30 years, all of a sudden the math doesn't add up. In fact, as of Tuesday, according to bookies.com, the lump sum is estimated to pay $596 million. That's an awful lot of money to risk in order to make $11 million. Especially when if there's just one other winning ticket sold, you would end up losing about $287 million. The fact is, if you have $585 million to spare, there are some far better ways to invest that money to make much more than $11 million.
Saturday night's $1.6 billion drawing is the largest in world lottery history. The odds of winning are 292,201,338 to 1. Here are some things in life that are more likely to happen to you than winning Powerball.
The average person is more likely to be eaten by a shark (264 mil to 1)
Flipping heads in a coin toss 20 straight times (1.04 million to 1)
The odds of hitting blackjack in a casino three straight times (22,722 to 1)
Personally, I'm pretty sure I've seen the dealer at a casino hit blackjack three times in a row, but maybe I could be wrong. Either way, there are a lot of things that will never happen to you in this world even though the odds of them happening are far greater that winning Powerball. Like getting struck by lightning, twice. The odds of getting zapped by Mother Nature twice in a lifetime are 9 million to 1.
We should probably be fair and remind people that the odds of winning Powerball are better than some other gambling options out there. The odds of getting a perfect NCAA bracket in March of 2023 are 120.1 billion to 1.
Despite the terrible odds, I like so many Americans will purchase a Powerball ticket for Saturday night in hopes of becoming the next person who is 100% sure that winning $1.6 billion in the lottery, won't destroy their life. I'm sure I can handle it.