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Powerball jackpot hits $500 million

Sashan

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NEW YORK (CNNMoney) -- Wednesday's Powerball drawing could be one for the history books, with the jackpot rising to a record $500 million.

The prize for Saturday night's Powerball was $325 million -- the fourth-largest in the game's history. For the 15th consecutive time, no players matched the winning numbers, which were 22, 32, 37, 44, 50 and Powerball 34.

The top prize now increases to an estimated $500 million, the largest in the history of the multi-state lottery game. The next drawing will take place Wednesday.

In 2006, the game handed out its largest prize to date -- $365 million -- to eight co-workers at a Nebraska meat-packing plant.

Does Powerball really boost the economy?

The Powerball is held in 42 states, the District of Columbia and the U.S. Virgin Islands.

The prize is still short of the U.S. record lottery payout of $656 million, set in March by a Mega Millions jackpot that was split between three winners.

For all the excitement surrounding Wednesday's drawing, gamblers are likely better off trying their luck elsewhere.

Research shows that the lottery pays out at one of the lowest rates among commercial gambling games. The odds of winning the top prize in Wednesday's drawing? One in 175 million.

Powerball jackpot hits $500 million - Nov. 27, 2012

Anyone feeling lucky????
 
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Yep, just bought myself 20 bucks worth of luck on a cold wet day. I'll dream all night on how to spend the easy money. :smokin:
 
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Yep, just bought myself 20 bucks worth of luck on a cold wet day. I'll dream all night on how to spend the easy money. :smokin:

My office colleagues and myself pooled in $220 ($20 each) and have sent $40 each to different places(Queens, couple of places in NJ and couple of places in CT) to spread the purchase across and try our luck. All the best mate - lets see what tomorrow has for us. :cheers:
 
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Still they are making profit off you ;).


Profit is not the word. Lotto industry is the most profitable industry in the world after prostitution provide the girls don't get sick. If I remember correctly for every dollar sold, half goes to the pool for winners, 6 cents goes to the merchant and 44 cents go to the state treasury. If someone wins 1) if he wants lump sum payment he'll get 30 cents and the rest go to state and fed, 2) if he wants time payments the state simply use his winning total to buy treasury and pay him the interest portion of the treasury. After 20 years the state(fed too) keeps the whole dollar minus the 6 cents to the merchants.

Of course that was when the treasury pay 6% interest.
 
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Always looking for a bullshit easy way. I hate jackpots/powerball.
 
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