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Powerball Jackpot: $270M Prize Sparks Latest Round of Lottery Fever

By    |   Friday, 10 May 2013 11:15 AM

People across the country are grabbing up Powerball tickets in hopes of capturing the more than a quarter of a billion dollar jackpot when the numbers are drawn on Saturday.

Wednesday was the 11th consecutive drawing without a grand prize winner, pushing the jackpot to $270 million, or a $175.8 million cash prize.

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Even though there were no jackpot winners in Wednesday's drawing, four lucky players matched the first five numbers for a $1 million prize, one each from Nebraska, New Jersey, Ohio, and Pennsylvania.

The Powerball jackpots have been swelling since January 2012, when the price of a ticket increased from $1 to $2.

The odds of winning Powerball's top prize are about 1 in 175 million, according to ABC News.

Richard Lustig, a seven-time lottery winner from Florida, appeared on "Good Morning America" last year to share his tips on how to win.

Pick your own numbers
Don’t leave it up to the machine. Lustig advises against playing Quick Picks, the phrase describing the number the computer picks for you when you don’t use your own.

Do your homework
Go online and make sure the set or sets of numbers you play have never come up before.

Stick with your strategy
You have to learn what number to play and how often to play. Commit to your numbers and stick to your strategy.

Avoid lottery fever
When jackpots get very high, Lustig says, people tend to get lottery fever and spend a lot more than they normally would or can afford. Don't go crazy; the odds are still the same no matter how much you spend.

The largest Powerball jackpot ever came in November when a Missouri couple and an Arizona man split the $587.5 million winnings.

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Powerball is played in 43 states, plus the District of Columbia and the U.S. Virgin Islands.

Related stories:

Lottery Lawyer Kurland to Moneynews: Winners Should 'Stay Within Themselves' to Avoid Going Broke

$14.3M Jackpot Abandoned, Launching Lottery Investigation, Mystery

Woman Claims She Accidentally Gave Away Winning Lottery Ticket

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The Powerball jackpot has climbed to $270 million, with a 1 in 175 million chance of winning.
Friday, 10 May 2013 11:15 AM
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