The odds of winning the Powerball jackpot are 1 in 292 million, and there isn’t much a player can do to increase those chances, according to one expert.
Sure, buying multiple tickets at once does increase a player’s odds slightly, but that strategy also requires spending more upfront while running the risk of having to split the payout with another winner, Harvard University statistician Mark Glickman told CBS News.
“Even if you’re buying 50 tickets, the likelihood is that you’re almost certain to still lose and not win the jackpot,” Glickman said. “In fact, the chance at winning even $4 by playing is still pretty small.”
No winner since August
The Powerball jackpot rose to $1.9 billion over the weekend, setting another record after no player won the grand prize in the last drawing on Saturday. The next Powerball drawing is set to take place on Monday night, as it does weekly, beginning just before 11 p.m. Eastern time.
Powerball drawings are broadcast live every Monday, Wednesday and Saturday night from the lottery draw studio in Tallahassee, Florida.
The last grand prize went to a winning ticket sold in Pennsylvania in early August, and the prize fund has been increasing since then. On Saturday, the winning numbers were 28, 45, 53, 56 and 69, with a Powerball of 20. It marked the 40th Powerball drawing since the last jackpot win. If no one wins during Monday night’s drawing, this Powerball run will become the longest in the game’s history without a grand prize winner.
If one or more Powerball tickets win on Monday, the estimated jackpot’s cash value stands at $929.1 million, according to the lottery. As usual, winners can choose to collect their prize as either a lump sum payment, which can be collected in full after applicable taxes are taken out, or as an annuity, which is paid in 30 graduated payments over 29 years.
Do “lucky” numbers work?
Of course, the likelihood of one person winning it all is vanishingly small. Statistically speaking, a Powerball player has a far better chance of being attacked by a grizzly bear at Yellowstone National Park — about 1 in 2.7 million, according to the National Park Service — or of finding a blue lobster in the ocean (1 in 2…
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