Powerball Jackpot Hits Staggering $1.5 Billion

[Omaha Steve]

Source: NBC News

by DANIEL ARKIN

The estimated jackpot in the multi-state Powerball lottery — which already smashed the world record — is now expected to be worth $1.5 billion when the balls drop, officials said Tuesday.

That means a single winner would have the option of a lump-sum cash payout of an estimated $930 million.

Yes, you read that right.

"Jackpot increased because of yesterday's strong sales," Kelly Cripe, director of media relations at the Texas Lottery Commission, said in a statement announcing the higher estimated payoff.

FULL story at link.




Read more: http://www.nbcnews.com/news/us-news/powerball-jackpot-hits-staggering-1-5-billion-n494741

[merrily]

1. Wasn't the lottery supposed to solve a lot of revenue problems?

[Plucketeer]

2. Sure!

One person at a time!

[merrily]

3. At least they get the taxes on that money--at least, the first time it changes hands.

[Earth_First]

4. I purchased two..

I generally don't gamble on lotteries, but the amount of good that could be accomplished with this kinds of money is worth $4...

[Marty McGraw]

6. That much money on the line?...

a full-proof fix would amount to chump change with that amount on the line.

Oh the wonders of a static charge....

[eggplant]

5. And they earn interest on the money for as long as nobody wins it.

Interest on nearly a billion dollars, even for a short time, is substantial. And that is separate from their cut of the payouts.

(I almost never play, since it is a foolish thing, but I figured what the hell and threw $10 at it.)