WOW, everybody is daydreaming about what they would do if they hit the record-breaking $700 million Powerball jackpot. Before you start your dreams, let’s break it down and see how your odds of winning it really break down…
Saturday night’s drawing is a numbers game that gives players good reason to brush up on their math: Take a look at some of the statistics from the experts:
THE MOST IMPORTANT NUMBERS:
For those who match all five white balls and the red Powerball, the key numbers are the $700 million jackpot, paid out over 30 years or as an immediate $428.4 million in cash. Those figures are before federal and state taxes, which will eat up roughly half of the cash-option prize.
Ticket holders have a 1 in 292.2 million chance of winning. To put that in perspective, the odds of hitting the jackpot are about the same as your odds of flipping a quarter and getting heads 28 times in a row, said Jeffrey Miecznikowski, associate professor of biostatistics at the University at Buffalo.
“The probability is so small, dare say impossible,” Miecznikowski said. “It’s like trying to count electrons or drops of water in the ocean or grains of sand in the world. We just can’t imagine these types of things.”
Read more about your odds of winning from source.