The latest Powerball jackpot is estimated at $400 million, and it's considered the nation's sixth-largest jackpot ever.It's the fourth all-time for Powerball, with the cash payout up to $227.8 …
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The latest Powerball jackpot is estimated at $400 million, and it's considered the nation's sixth-largest jackpot ever.It's the fourth all-time for Powerball, with the cash payout up to $227.8 million, the eighth biggest lump sum for any American lottery.Here are some things to keep in mind ahead of Wednesday night's drawing.1. THE ODDSRemember, a person's odds of winning the jackpot are 1 in 175 million. That's how many combinations are possible with the game's five white balls and one red ball. In this case, there have been 11 drawings since August 10 without a winner.2. BIG JACKPOTSA major revamp in January 2012 increased the cost of a Powerball ticket from $1 to $2. It also led to larger jackpots in smaller amounts of time. Of the top 10 Powerball jackpots of all time, nearly half have been recorded after the game change.3. CONSOLATION PRIZESince the revamp, a secondary $1 million prize has made some losers happy anyway. More than 730 people have won $1 million, and more than 120 people have won $2 million through the Power Play option. The last two years have produced an entirely new Top 7, including record jackpots for Powerball, Mega Millions and all U.S. lotteries.4. WHY WAIT FOR THE HYPE?There's technically no need to wait for a larger jackpot. Whether the jackpot is $40 million or $400 million, your odds of winning the top prize are the same. Whether you buy 1 ticket or 10 tickets, your odds are pretty much the same. A higher jackpot just means there's a higher chance there will be more than one winning ticket.TOP JACKPOTS1. $656 million, Mega Millions, won March 30, 2012:2. $648 million, Mega Millions, for Dec. 17, 20133. $590.5 million, Powerball, won May 18, 20134. $587.5 million, Powerball, won Nov. 28, 20125. $448.4 million, Powerball, for Aug. 7, 20136. $400 million (estimated), Powerball, for the Feb. 19, 20147. $399.4 million, Powerball, for Sept. 18, 20138. $390 million, Mega Millions, won March 6, 20079. $380 million, Mega Millions, won Jan. 4, 201110. $365 million, Powerball, won Feb. 18, 2006Powerball Jackpot
