Powerball jackpot climbs to $400 million after no winner drawn in Saturday’s drawing

[Omaha Steve]

Source: WGN

The winning Powerball numbers for the drawing Saturday are 5-6-15-29-42, with a Powerball number of 10 and Power Play 2.

However, lottery officials say there was no grand prize winner in the drawing.

The jackpot is now estimated at $400 million. The lump-sum cash prize for the winner would be $244.8 million.

The next drawing will be held Wednesday, January 6th.

FULL story at link.

Read more: http://wgntv.com/2016/01/03/powerball-jackpot-climbs-to-400-million-after-no-winner-drawn-in-saturdays-drawing/

[Tom_Foolery]

1. With the Mega Millions jackpot added in...

That makes $545 million on the line this coming Tuesday and Wednesday.

[William Seger]

2. Putting the odds of winning in perspective

With the Powerball changes that were made in October, the odds of winning the jackpot rose from 1 in 175 million to 1 in 292 million. To put those odds in perspective, imagine driving from Seattle, Washington, to Key West, Florida -- 3,457 miles and 50 hours according to Google Maps -- and imagine the entire route is lined with a row of pennies placed edge to edge. Anywhere along your drive, you can stop and pay $2 to pick up a penny, hoping that it's the one that wins the jackpot.

[callous taoboy]

4. Long odds, to be sure.

But someone will be picking up that penny soon.

[William Seger]

6. Sooner or later, but the odds of the jackpot going to $1 billion...

... before someone wins are now about 10 times greater than with the old game. The entire purpose of the change was to get bigger jackpots and the resulting increased play.

[callous taoboy]

10. That's pretty sick.

I admit to throwing my money away from time-to-time, but I'd actually play a lot more often if the odds weren't so steep and the payout more frequent. I remember seeing Ken Kesey speak before a Jerry Brown rally in Eugene, Oregon. He was going off on the lottery, said he was offered a chance to buy a lottery ticket that evening while buying a bottle of Schnapps and he told the cashier, "Thanks, but my I.Q. is too high." I always hear his voice even as the machine sucks another dollar from me.

[fasttense]

5. Here in TN some of the big games odds are 1 in 300 million

That means if every person (man woman and child) in the US bought a ticket you would get picked. Not likely at all. I can't imagine why people play with odds so bad.

[TexasBushwhacker]

7. Well, lottery money goes to the state

We don'even have state income tax in Texas, so I don't mind spending a few $$.

[craigmatic]

3. Looks like it's ime to buy some tickets.

[MissMillie]

14. worked for economists for years

including one Nobel Prize winner.

Every one of them gave this advice: buy only ONE ticket, and understand that you're not really buying a chance of winning, but for the excitement involved with the infinitesimally small shot at beating the odds that are seriously stacked against.

Buying one ticket gives you 1 in a 25 million shot at the jackpot (just guessing but the odds are stacked that high against you). Buying a second one doubles your chances, but that means you still only have a 2 in 25 million chance.$

Not playing at all saves you $4/week. You'll get rich quicker by not playing at all.

Of course, if you'd like to increase my jackpot by buying a ticket, then thanks!

[Paula Sims]

8. If it's meant to be me (and hubby), then it only takes one ticket

I don't get these people who blow $100 on several tickets. Assuming the other $99 don't yield anything, that's spitting in the wind.

[secondvariety]

9. The best quote

I've heard about the lottery came from a mathematician; "Sure, someone is going to win the lottery. It just isn't going to be you."

[kentauros]

13. And yet, some DUers around here -have- won it.

I don't know if any have won the top prize, but have seen reports of the next one down, and so forth. Also, it's not a lottery if someone can't win. Who cares how long the odds are?

Besides, people that do know the math often figure out how to win, and more often than the rest of us.

[tavernier]

11. Hubby buys one ticket on PB days

Last week he got the PB number (22) but no other numbers. Paid $4. Thinking that's the closest we will ever get. But I don't understand why they don't give bigger chunks to ppl who get 3 or more numbers. Even that is very difficult.

[William Seger]

12. They don't do that because bigger jackpots = more tickets sold = more income

With the jackpot up to $400 million, a lot of people who don't usually play will buy tickets (and most of those infrequent players probably aren't aware of the changes in October). If the jackpot goes over $500 million, which is quite likely with the new odds, the buying frenzy will be enormous, and if it gets up near a billion, it will be like nothing we've ever seen. That's the whole point of the rule changes.