Sales grow as Powerball jackpot reaches $800 million

Jan 09, 2016, 22:16
Sales grow as Powerball jackpot reaches $800 million

Meet the lucky winners of the largest lottery jackpots in USA historyYes, you can play in IL!

Of course, winning Saturday's drawing won't be easy, as the odds are about 1 in 292 million.

Jeff Holyfield, with the Michigan Lottery, said as of Saturday morning approximately 6.4 million tickets have been sold in Michigan for Saturday's record $900 million Powerball drawing.

Dreams of riches inspired a flurry of ticket-buyers, sending this weekend's Powerball jackpot surging to $800 million even faster than lottery officials expected.

Winners have a choice of taking their money as an annuity - that's $800 million in annual payments over 30 years - or receiving a lump sum of $496 million. But don't spend it all in your head just yet.

"Once you get numbers that size, it's hard for people to wrap their minds around them", Wasserstein said.

For the full interview with Mahoney, click on the video player at the top of the page. Powerball sales must stop by 10 p.m. EST on Saturday, but states can cut off sales earlier.

Since most people let the computer choose for them, KRDO Newschannel 13 asked a psychic if she had any predictions for the jackpot or the winning numbers.

Powerball tickets are sold in 44 states, Washington, D.C., the U.S. Virgin Islands and Peuto Rico. Those figures are before federal and state taxes, which will eat up roughly half of the cash-option prize.

Sadly, the odds of winning tonight's Powerball are not good. "When we're out there at the stores, people are walking in and they're dropping a lot of money on the counter", said Richard Lopez with the California Lottery District.

Lauren Fletcher, right, looks at the Powerball lottery ticket she purchased at the Country Store Friday, Jan. 8, 2016, in Odessa, Texas, as the multi-state jackpot reaches $800 million.

The bigger prizes draw more players, who in turn make the jackpots even bigger. The jackpot starts at $40 million and grows until there's a victor.

The Powerball jackpot can be won by matching five white balls drawn out of a drum with 69 balls and one red ball drawn out of a drum with 26 red balls. "We've never seen jackpots like this".

A regular ticket costs $2 - about the same as a gallon of gas.

China's Stock Market Plunges Again, Stoking Troubles Worldwide
Chinese investors use a computer terminal to check stock prices in a brokerage house in Beijing , Friday, Jan. 8, 2016. The CSI300 had lost around 12 percent in the first four trading days of 2016, giving up all the gains made in 2015.

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