Jul 26, 2014

Is Powerball's $325 Million Jackpot Enough?

How big a prize do you need before you decide to play the lottery?

Is Powerball's $325 Million Jackpot Enough?

Is one-third of a billion dollars enough money for you to go out and buy lottery tickets? Powerball's estimated prize in Saturday night's drawing is $325 million, which is about $40 million off the all-time record, according to Lottery Universe.

The cash prize option is "only" $212.8 million.

But with the odds of getting a ticket with the winning numbers worse than 1 in 175 million, will you play the game? It costs $2 per ticket. The "Powerball multiplier" adds $1 to the ticket price, but could increase the size of any non-grand prize amount.

Powerball is played in 42 states, Washington, D.C. and the U.S. Virgin Islands.

Friday's MegaMillions jackpot is "only" $41 million. Heck, even Friday's Fantasy Five drawing is worth more than $300,000.

A portion of the ticket sales are used for education in Georgia, including the HOPE Scholarship. The Georgia Lottery for Education Act requires that proceeds be used to fund:

  • Tuition grants, scholarships or loans to undergraduate college students and teachers who seek advanced degrees in critical areas of need.
  • Voluntary Prekindergarten Programs
  • Technology grants to train teachers in the use and application of advanced technology and capital outlay projects for educational facilities. This program received appropriations through fiscal year 2003.

With Black Friday here and Cyber Monday coming up, will more people take a chance for a big payoff?

Are you going to buy a Powerball ticket for Saturday's drawing? Tell us in the comments below.

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