$1.2 billion Powerball lottery jackpot spurs hype, dreams - Insurance News | InsuranceNewsNet

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November 2, 2022 Annuity News
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$1.2 billion Powerball lottery jackpot spurs hype, dreams

Citrus County Chronicle (Crystal River, FL)

Lending a helping hand, rescuing animals, and buying a secluded future in paradise.

These are just some of the dreams and ideas people mentioned when asked what they would do with the winnings of a possible record-breaking lottery grand prize.

After no one matched their ticket's six numbers with the winning digits of the Powerball's Halloween drawing, Monday, Oct. 31, players now have a shot Wednesday night for what could be the U.S. lottery's fourth-largest jackpot – $1.2 billion.

If nobody wins Wednesday's drawing, the Powerball prize, which grows after each unclaimed drawing, will reach, if not break, the $1.586 billion record jackpot, which three ticket holders won in 2016.

Wednesday night's advertised Powerball jackpot of $1.2 billion is for winners who chose to receive their winnings through an annuity paid over 29 years. Almost every winner picks the cash-out option, an estimated $596.7 million for Wednesday's drawing.

There are eight possible number matches to win the Powerball's set cash prizes ranging from $4 to $2,000,000, but players must match all six drawing numbers, including the red Powerball, with their tickets to win the Powerball's changing grand prize jackpot.

Powerball drawings are at 10:59 p.m. every Monday, Wednesday and Saturday. Cutoff times for ticket sales vary from one to two hours before the drawing.

It costs $2 to play the Powerball, and asking ticket sellers for a Power Play ticket at an extra $1 can multiply non-jackpot prizes by either two, three, four, five or 10 times. Power Play multipliers are randomly selected just before each drawing.

For more information, visit powerball.com.

There have been 38 consecutive Powerball drawings without a jackpot winner since it was last won on Aug. 3.

Powerball is played in 45 states, as well as Puerto Rico, the U.S. Virgin Islands and Washington D.C. Players have a 1 in 292.2 million chance of winning its jackpot grand prize.

However, those slim odds don't keep people from daydreaming about what could be.

Citrus County Chronicle staff posted a question on Facebook, asking people what they would do if they lucked out with the lottery. Here are some of the responses:

"Move out of Florida to a tropical island, pay off my current mortgage, pay off all debt and car notes," Tifanie Kent Felix said. "Give the kids our Florida home, and say 'toodles'"

"I would build a homeless shelter," Cheryl German said.

"Probably nothing," Kristina Joel Martin said. "I would be in shock that I actually won something."

"Help every one I can!" Angela Videon said. "A life-changing way for me is a life-changing blessing to those around me!"

"I would offer to pay whatever additional costs were involved to make the new Citrus County Animal Shelter the absolutely best in the country, a shelter known around the country as the best shelter ever," Dan Mc Kee added. "Make sure every animal that has to live there lives it's best life possible."

Older

Let’s say you actually won the $1 billion Mega Millions jackpot. Now what?

Newer

What is Powerball's actual payout?

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