Powerball’s Biggest Jackpot: Do You Feel Lucky?

The biggest jackpot in Powerball history will be drawn tonight and change somebody’s life forever. The winning numbers will bring in a prize of at least $550 million to the lucky winner. Gas stations, convenient stores and every local mini-mart are packed with long lines of people trying to purchase the lucky winning ticket. The odds of winning the jackpot are 1 in 176,000,000, but that has not stopped the millions of dreamers from taking their shot at wealth and luxury.

If somebody winds up with the winner, they can either take the $327 million lump sum of cash or opt for the annuity over 30 yearly payments. Most experts tell you to take the lump sum and invest the money yourself, even though it is overwhelming to imagine having that much money at once. They also recommend hiring advisors and lawyers that would help protect your winnings, while investing it wisely.

States also do very well when it comes to the purchase of lottery tickets, by taking in 50% of the proceeds. They spend approximately 4% on advertising and 7% goes towards paying retailers, while the rest goes towards helping a wide variety of state programs including senior citizens, students, scholarships and other very important issues.

So you have to ask yourself one question. Do you feel lucky? If so you might as well take a chance on buying a few tickets. If you don’t win, at least you were involved in the excitement and donated to a few good causes. The chances of winning are very rare, but you never know. As they say, “you can’t win if you don’t play.”

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Posted by on Nov 28 2012. Filed under Featured News, Finance. You can follow any responses to this entry through the RSS 2.0. Both comments and pings are currently closed.

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