Powerball jackpot leaps to estimated $625 million and counting
The jackpot for Saturday night's Powerball drawing will be at least an estimated $625 million after no ticket bought for Wednesday night's drawing matched all six winning numbers. Wednesday night's pot was approximately $550 million.
It's the fourth time the Powerball jackpot has topped the $600 million mark. The cash option will be at least an estimated $380.6 million.
But jackpots swell as drawings approach and more and more tickets are sold.
Wednesday night's Powerball winning numbers
- 10, 14, 50, 53 and 63
- Powerball: 21
How late can you play Powerball?
Sales cut off at least 59 minutes before the drawing, according to the Multi-State Lottery Commission. But cut-off times can be earlier depending on the state, so it's best to check your state's lottery commission.
Odds of winning
The odds of winning a jackpot remain abysmal at 1 in 302 million for Mega Millions and 1 in 292.2 million for Powerball. You are 25,000 times more likely to hit a hole-in-one than you are of winning a Powerball jackpot.
Who buys lotto tickets?
About two-thirds of Americans gamble. Last year, they spent $72.97 billion on traditional lottery tickets, according to Gallup.
On average, that's $206.69 per person. "Our obsession with lotteries, with gambling, is that unicorn feeling of, like, 'maybe it'll be me,'" CBS News business analyst Jill Schlesinger said. She points out that some people don't necessarily play to win.
"They just want to take a moment out of their day to consider how to dream big," Schlesinger said.
The average American spends about $223 per year on lottery tickets, according to a survey from LENDedu. Massachusetts residents have the biggest taste for playing the odds, spending almost $763 per year on lottery tickets, the study found. North Dakotans are on the opposite end of the spectrum, spending about $44 per year on the lottery, or the lowest average figure among residents of all 50 states.
