The grand prize of the US Powerball to be drawn on Wednesday has increased to an estimated $1.3 billion.
That’s the largest jackpot in the world guys
Powerball picks 5 out of 69 white balls and 1 out of 26 red balls which together make the winning numbers.
The odds to match all six numbers are one in 292.2 million, similar to the odds of flipping a coin and getting heads 28 times in a row.
Allowing the computer to pick your numbers will increase the chances of winning as people generally use birthdates which normally fall below number 31 whereas the computer chooses anything between 1 and 69.
The odds of winning increase if multiple tickets are bought. However, buying all possible number combinations at US$2 each would cost US$584 million.
The payout depends on where players live, but all winners must pay federal income taxes. This is around 25 percent for US citizens.
The states of Alaska, Florida, Nevada, South Dakota, Texas, Washington and Wyoming do not tax winnings. Winners in New York City have to pay both 8.8 percent state tax and 3.9 percent city tax.
So are you feeling lucky? Do you play Powerball? Tell us if you’re a winner below.
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