It's the 9th largest jackpot in the game's history, officials said.
Just when you thought it was safe to be a lottery winner comes the buzzkilling news that many winners, even those in the multimillion dollar range, manage to blow through their windfalls and are back to broke in under seven years.
Disappointed about missing out on the $1.6B jackpot Wednesday night? If you bought a ticket, of course you are! Chances are good, however, that you won't have to wait terribly long for another opportunity.
We're all winners, folks.
As everyone in America seems to know, the Powerball jackpot has reached new heights, with an estimated annuity prize of $1.5 billion for the drawing on Wednesday, January 13, 2016. A monster jackpot is exactly what Powerball hoped for when it changed its game structure last fall.
And then how much money you'd STILL have left afterward. 💰
For those still trying to get their minds around the probability of winning the Powerball jackpot, here's another example. Suppose the 292,201,338 combinations in the game were seconds. That's the equivalent of over 81,000 hours, more than 3300 days, or just over 9 years.
Lotteries should not be regressive taxes on the poor and uneducated to give a few bucks to the upwardly mobile who are less likely to play. As lotteries become more ubiquitous in our society, we should ask ourselves if they are helping or hurting us.
The dishwasher quit on the spot.