Powerball: What you need to know before you play for $1B jackpot

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Powerball: What you need to know before you play for $1B jackpot
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The new jackpot for Wednesday’s drawing would be the seventh highest in U.S. history and the third largest for Powerball.

someone won the Powerball jackpot was April 19 for a top prize of nearly $253 million. Since then, no one has won the grand prize in the past 38 drawings. The jackpot will keep growing until someone wins.Pretty much anything you want. A billion dollars could buy you around 200 Bugatti Mistral Roadsters, dozens of eight-seater private jets, or several private islands in the Caribbean.

"So by far, the biggest misconception that we hear or read and see is, is that the money seems to be infinite when it certainly is not," Fletcher said.First and foremost is to secure the winning ticket by putting it in a safe place such as a fireproof safe. Then you should start putting your "team" together, Fletcher advised.

The $1 billion Powerball top prize is drawing the lion's share of attention, but the competing Mega Millions lottery jackpot is also reaching massive heights. Ahead of a drawing Tuesday night, that jackpot stood at $640 million, the seventh-largest in the game’s history.That's how the games have been designed. The credit for such big jackpots comes down to. In 2015, the Powerball lottery lengthened the odds of winning from 1 in 175.2 million to 1 in 292.2 million.

Your odds of winning are only slightly improved by buying more than one ticket. And the odds are so long that it's certainly not worth spending money you'll miss for more tickets, experts warn. If buying one ticket gives you a 1 in 292.2 million chance of winning the jackpot, spending $10 for five number combinations improves your chances to only 5 in 292.2 million. The same is true is you spend $100.

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