DES MOINES, Iowa — The Powerball jackpot has climbed to $415 million, making Saturday night’s prize the largest since a record $1.6 billion payout in January. Interest and sales typically spike when the lack of a winner causes prizes to spiral upward. Here are some things to keep in mind about Saturday’s drawing and future jackpots.
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START WITH THE ODDS
At one in 292.2 million, everyone from lottery officials to a helpful math teacher will explain that the odds of winning aren’t good, but it’s still hard to fathom. Just keep this in mind: You have a much better chance of being killed in an attack by bees in your lifetime, at one in 64,706, than winning the Powerball jackpot.
BUT EVENTUALLY, SOMEONE WILL CASH IN
Even with such bad odds, a winning ticket or tickets will eventually be sold. That’s because about 323 million people live in the United States, and when the jackpot balloons, a lot of them buy a lot of tickets. In January, more than 75 percent of the possible 292.2 million combinations were sold for the astronomical prize.
HOW DOES POWERBALL WORK?
Drawings are at 10:59 p.m. Eastern time on Wednesdays and Saturdays, when five of 69 white balls are drawn from a drum, along with one of 26 red balls from another drum. Match all the numbers and you’re suddenly very wealthy. Smaller prizes are paid if you match the Powerball or at least three of the white balls. The jackpot starts at $40 million and increases until there is a winner. Each ticket costs $2, and players can pay an extra $1 to increase the smaller prizes they might win.