View random article

Powerball Jackpot Poised to Make History

What would you do if you won the lottery? Everyone likes to dream of having unlimited funding to pursue their every dream, but few will ever experience the thrill of winning a life changing jackpot to make it all possible. With the odds of winning the Powerball Jackpot being 1 in 175 million, many people feel that the chances are so slim it's not even worth spending a dollar to take a chance at it.

However, even with the odds stacked against everyone, someday a lucky ticket holder will win big. Since there was no jackpot winning Powerball ticket purchased for the May 11, 2013 drawing, the jackpot has climbed to $350 million ($222.8 million in cash) for the next drawing on May 15. If there is still no winner, the jackpot will continue to climb and could soon reach close to a billion dollars, which would be historic.

Since California decided to join in on the Powerball frenzy last month, the jackpot amount is climbing faster than ever. California was the 43rd state to join Powerball and will use 40% of the revenue generated by ticket sales in the state -- an estimated $40 million annually -- on education. This means California public schools are the real winners no matter who chooses the winning numbers.

Lotteries have been around since ancient times and were even mentioned many times in the Bible. Learning more about the history of the lottery may not help you win, but the games have always been full of interesting thrills and scandals. And with the historic size of today's jackpots, we are almost guaranteed to see more controversy over lottery games in the future.

Featured in Finance