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What it's like to win lotto
An estimated US$700 million Powerball lottery has just been drawn in the United States. Picture: Nati Harnik Source: APSource:AP
A SINGLE winning Powerball ticket matching all six numbers in the second-highest lotto draw in US history has been sold in Massachusetts.
The location of the winner was revealed on Thursday. The ticket in the massive Powerball draw with an estimated jackpot of $US700 million ($A886 million) matched all six numbers — 6, 7, 16, 23, 26 and 4.
The lucky ticket holder can now choose whether to have the jackpot paid out over 29 years, or take a lump sum cash payment estimated at US$443 million (A$560 million) after taxes.
Odds of winning such a huge prize are never great, but a subtle manipulation of the rules means the chance of winning is currently lower than ever.
Atul Amin, left, sells a Powerball ticket at Philadelphia, Pennsylvania, on Tuesday. Picture: Matt RourkeSource:AP
The Washington Post reports the number of balls in the draw was increased from 59 to 69 in 2015 — and while it doesn’t sound like a big difference, the odds of winning plummeted from roughly one in 175 million to one in 292 million.
To put that into perspective, National Geographic estimates the chance of being struck by lightning is around one in 700,000, while Quartz reports you’re more likely to die from an asteroid strike.
Even if a person was to produce a winning ticket, it’s possible they’d have to share the prize due to burgeoning public interest among casual lottery players.
The jackpot has been growing since June, and is the second largest in US history, behind a US$1.6 billion top prize in 2016 shared between three winning tickets.
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Prizes that big are enough to prompt people who don’t normally buy lottery tickets to go out of the way for a chance at winning the big bucks.
Tickets were sold in 44 American states — including Iowa, where the jackpot was prominently advertised on billboards. Picture: Charlie NeibergallSource:AP
In fact, in 2016 Americans spent US$80 billion (A$101 billion) on lottery tickets — more than movies, video games, books, music and sports combined.
Even Australians got into the action on today’s draw.
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Although the lottery itself was only open to US residents, Lottoland — based in the Northern Territory — accepted bets on the outcome of the draw.
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The company said at the start of the week they had noticed a rush of bets being placed after the jackpot hit the US$600 million-mark last
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Their website actually crashed when they took similar bets on last year’s record prize.