Estimated $750 million Powerball jackpot up for grabs in Wednesday's drawing
It's been three months since a Powerball player took home the game's multimillion-dollar jackpot. Wednesday night could see another lucky winner, with an estimated $750 million up for grabs. It's the fourth-largest lottery jackpot in U.S. history.
Lottery officials say the cash value for Wednesday's jackpot, if taken as a lump sum instead of spread out over 29 years, is estimated at $465.5 million.
Wednesday's jackpot is just shy of a massive Mega Millions jackpot of $878 million, which was the lump sum amount claimed earlier this month by an anonymous winner in South Carolina.
There was no winner in the $638.8 million Powerball jackpot Saturday. The winning numbers drawn that night were 24, 25, 52, 60, 66 and Powerball number 5.
How late can you play Powerball?
Sales cut off at least 59 minutes before the drawing, according to the Multi-State Lottery Commission. But cut-off times can be earlier depending on the state, so it's best to check your state's lottery commission. Wednesday's drawing will take place at 10:59 p.m. ET.
Odds of winning
The odds of winning a jackpot remain abysmal at 1 in 302 million for Mega Millions and 1 in 292.2 million for Powerball. You are 25,000 times more likely to hit a hole-in-one than you are of winning a Powerball jackpot.
Where can you play Powerball?
Powerball is played in 44 states, plus Washington, D.C., the U.S. Virgin Islands and Puerto Rico.
Who buys lotto tickets?
About two-thirds of Americans gamble. Last year, they spent $72.97 billion on traditional lottery tickets, according to Gallup.
On average, that's $206.69 per person. "Our obsession with lotteries, with gambling, is that unicorn feeling of, like, 'maybe it'll be me,'" CBS News business analyst Jill Schlesinger said. She points out that some people don't necessarily play to win.
"They just want to take a moment out of their day to consider how to dream big," Schlesinger said.
The average American spends about $223 per year on lottery tickets, according to a survey from LENDedu. Massachusetts residents have the biggest taste for playing the odds, spending almost $763 per year on lottery tickets, the study found. North Dakotans are on the opposite end of the spectrum, spending about $44 per year on the lottery, or the lowest average figure among residents of all 50 states.
