Tonight’s Powerball drawing begins at 11:00 p.m. ET, how much is it worth is the question millions of Americans will be asking themselves to see if the 1 in 175.2 million odds of winning are is worth the $425 million jackpot.
At $425 million, the Powerball jackpot for tomorrow night’s drawing is the third-largest Powerball jackpot to date, as well as the fourth-largest lottery prize in history. Since the rise in Powerball ticket prices from $1 to $2 back in January 2012, jackpot levels and ticket sales have increased at a much faster rate to a much larger sum of money to both the benefit and chagrin of those who make the purchases.
Charles Strutt, executive director of the Multi-State Lottery Association, told the Washington Times that 750 people have become millionaires since the increase in ticket prices, though perhaps optimistically fails to mention the number of those who completely blow their winnings and find themselves broke.
On Monday, lottery officials predicted that tonight’s Powerball jackpot could surpass $500 million by the drawing time, and with hours left for people to choose their lucky numbers, a surge in ticket sales is expected from people who don’t commonly play the lottery.
California’s participation in the Powerball game is partially to thank for tonight’s jackpot reaching $425 million, as the highly populated state only began participating in the drawing back in April. California became the 43rd state to sell Powerball tickets, along with Washington, D.C. and the U.S. Virgin Islands.
With any luck, participants will fare better than those who invested in Saturday’s Powerball drawing when the pot reached $307 million without landing on a top winner.
The most recent major jackpot of $131.5 million went to Patricia Chandler of Pennsylvania on June 22, and the social worker took away a lump sum of $77.4 million. If and when a Powerball jackpot winner is selected for Wednesday, the lucky victor will walk away with a payout of $244.7 million.Image via Facebook