America's $450M Powerball lottery: What you need to know

DES MOINES, Iowa -- Players will have a chance Wednesday night at an estimated US$450 million Powerball jackpot, making it the biggest lottery prize in nearly a year.

See Full Article

The jackpot will be the largest since a Powerball prize that climbed to $564.1 million last February before it was won by players from North Carolina, Texas and Puerto Rico. Powerball is played 44 states as well as the District of Columbia, the U.S. Virgin Islands and Puerto Rico.

Here are more details about the big lottery payoff.

HOW DOES THE JACKPOT RANK?

The jackpot would be the sixth-largest ever in North America. It's been growing since the last Powerball jackpot winner on Nov. 4 and will keep climbing if no one wins the big prize on Wednesday. If there isn't a jackpot winner, the prize for Saturday's drawing would be significantly larger, but it would still take some time to grow beyond the record. That was a $656 million Mega Millions jackpot won in March 2012. The largest Powerball prize was a $590.5 million jackpot won by a Florida woman in May 2013.

PAYMENT OPTIONS

The prize would have a cash option of $275.4 million, and that's before taxes are deducted. The $450 million prize is based on an annuity, which would pay out the money over 29 years.

THE ODDS? NOT GOOD.

The odds are one in 292.2 million, which means you're really, really, really unlikely to win. For some comparison, your chance of being struck by lightning in a year is about one in 960,000. But as lottery officials often note, you have no chance of winning if you don't buy a ticket.

POOLING YOUR MONEY

Some players feel they increase their odds of winning by pooling their money with co-workers, with a promise to split the winnings. Joining with colleagues and friends can increase the fun of playing, but the odds of winning are so tiny that adding 50 or 100 chances doesn't matter much. Lottery officials recommend that if people pool their money, they put down rules in writing for splitting the prize, as it's easy for misunderstandings to crop up when hundreds of millions of dollars are at stake.



Advertisements

Latest Canada & World News

  • Treyvonne Willis denied new trial

    Canada News Toronto Sun
    Manitoba's highest court has denied a new trial for a man who claimed he carried out a contract killing under duress after he was threatened with death himself over a drug debt. Treyvonne Willis, 24, was convicted by a jury in April 2015 of first-degree murder for the stabbing death of 26-year-old Kaila Tran outside her St. Source
  • Hawaii summits could get more than 2 feet of snow

    World News CTV News
    HONOLULU -- The summits of Hawaii's Big Island could get more than two feet of snow, with a winter storm warning in effect through Saturday. Yes, it snows in Hawaii, Matthew Foster, a meteorologist with the National Weather Service in Honolulu, said he had to explain to some surprised out-of-state callers Friday. Source
  • Toronto-area doctor charged with first-degree murder in wife's death

    Canada News CTV News
    TORONTO -- Police say a Toronto neurosurgeon is to appear in court Saturday facing a first-degree murder charge in the death of his wife. The body of Elana Fric Shamji, 40, was found Thursday in Vaughan, Ont. Source
  • Military advances fight against sexual misconduct

    Canada News CTV News
    Days after victims of military sexual assault raised concerns about lenient sentences, CTV News has learned of a new directive from Canada’s top soldier to remove from their jobs anyone who has committed sexual misconduct. Source
  • What U.S. presidents said about ties with China and Taiwan

    World News CTV News
    President-elect Donald Trump spoke Friday with Taiwan's President Tsai Ing-wen, a highly unusual and probably unprecedented move since the U.S. broke diplomatic ties with the self-governing island in 1979 and shifted to diplomatic recognition of China under a so-called "one-China" policy. Source
  • 21 Chinese miners trapped for 4 days confirmed dead

    World News CTV News
    BEIJING -- Twenty-one miners who were trapped for four days after an explosion hit their unlicensed coal mine have been confirmed dead, and four people have been arrested in connection with the disaster, state-run Xinhua News Agency reported Saturday. Source
  • Possible faculty member fatally stabbed at USC

    World News CTV News
    Los Angeles officials say a possible faculty member has been fatally stabbed at the University of Southern California. Los Angeles police Officer Drake Madison says the stabbing happened Friday afternoon and that the victim was a possible faculty member. Source
  • Professor fatally stabbed on USC campus, student arrested

    World News CTV News
    LOS ANGELES -- A professor was stabbed to death on the University of Southern California campus in Los Angeles on Friday and a suspect arrested in his death is a male student, a police spokeswoman said. Source
  • Amber Alert issued for Layla Sabry, 9, last seen in Welland, Ont.

    Canada News CBC News
    Police in Ontario have issued an Amber alert for a missing nine-year-old girl. Niagara Regional Police say Layla Sabry is believed to have been abducted. They describe Layla as white, about four-foot-two, with a thin build, brown hair, and brown eyes. Source
  • 21 Chinese miners die after 4 days trapped

    World News CBC News
    China's state-run Xinhua News Agency says 21 miners who were trapped for four days after an explosion have been confirmed dead. One is missing. Xinhua quoted Heilongjiang provincial authorities in northeast China as saying the miners' deaths were confirmed on Friday night. Source