The Powerball jackpot approached a record high $500 million with a $324 million cash value, making it the biggest prize fund in the history of the US-based lottery, and millions have gone and continue to go stores to buy tickets in droves. The odds of winning the Powerball jackpot are 1 in 175,223,510, but that doesn’t discourage ticket purchasers. Chuck Strutt, Executive Director of the Multi-State Lottery Association says, “Sales for Powerball reached a record $3.96 billion in the 2012 fiscal year, and they are expected to reach $5 billion this year.” There has been no Powerball winner since October 6, 2012.
No matter how many people play Powerball, the chances of winning never change. The chances of winning are based on the amount of number combinations to determine the probabilities for the first five white balls and not permutations. If you’re already planning how you’re going to spend your jackpot money, and if you’re convinced you’ll beat the odds, you might want to check out some interesting odds that are more likely to happen than winning the lottery:
Hot tap water accidentally kills 1 in 9,356,000 people in the US every year.
A trip to the vending machine turns lethal for 1 in 112,000,000 people.
The odds of striking it rich on Antiques Roadshow are 1 in 60,000.
The odds of drowning in a bathtub are 1 in 685,000.
The odds of being bitten by a dog are 1 in 144,899.
The odds of becoming president are 1 in 10,000,000.
The odds of fatally slipping in the bathtub or shower are 1 in 2,232.
The odds of an American home having at least one container of ice cream in the freezer are 9 in 10.
According to Wired magazine, approximately half of Americans buy at least one lottery ticket at some point, but the vast majority of tickets are purchased by about 20 percent of the population, and the high-frequency players tend to be poor and uneducated. In a study conducted by The Consumerist, households earning under $13,000 per year spend about 9% of all their income on lottery tickets. They feel there is always that chance of winning.
There are many multi-million dollar lottery winners across the nation who just happened to have those winning numbers despite the incredible odds. Have you bought your ticket? In Georgia Powerball tickets are sold from 5 a.m. until 10 p.m. on the days they are drawn (Wed. & Sat.) and until 1 a.m. on all other days. If you don’t buy into the hype, you can always just watch the live drawing on television as you scarf down your pint of cookies and cream.