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Facts about Powerball

Facts about Powerball

Wednesday's Powerball could win someone $400 million or more, causing people who may or may not usually play the lottery to flock to stores, buying tickets in an attempt to get rich quick.

But winning the Powerball may not be as easy, lucrative, or desirable as you might think.

The odds of winning the big jackpot are less than one in 175 million. In fact, the odds are better that you will get struck by lightning or die from flesh-eating bacteria.

Even if you win, you will not actually get $400 million. Taxes are high on large amounts of money, so a big chunk of that money will go to the United States Treasury.

A Powerball ticket costs $2, and if you buy five tickets per week for 30 years, you will have spent $520 per year -- $15,600 total. If you had invested that money simply, you would likely "earn" around $50,000.

Most people believe that if they won the lottery, they would be set for life. However, the jackpot can be brief. Canadian Sharon Tirabassi won $10 million but had almost none of it left less than a decade later.

Read more: Daily Finance

 

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