Article courtesy of ABC News
The Powerball jackpot has reached $325 million, the fourth largest in the lottery’s history. The drawing will be tonight.
If one person’s ticket matches all five numbers along with the Powerball number, that winner will receive a $212.8 million lump sum before taxes. If the winner chooses the annuity option, he or she will receive annual installments for 29 years equal to the full $325 million.
That is, of course, if there is a winner.
According to Powerball’s website, the odds of winning Saturday’s jackpot are 1 in 175,223,510.
However, such huge jackpots always encourage more people to play and as the prizes grow, so do the number of ticket buyers.
New York Lottery spokesperson Carolyn Hapeman says excitement over Powerball has also grown since the ticket price was raised from $1 to $2 in January and to increase incentives to play by allowing for a new $1 million second prize and a higher starting jackpot of $40 million. Jackpots have also increased more quickly since the $1 increase.
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