U.S. Powerball jackpot hits $700M

The estimated jackpot for Wednesday night’s Powerball lottery game climbed to $700 million, making it the second-largest in U.S. history

Is a chance at $700 million enough to make you take a drive across the border?

Canadians across the nation have been slipping across the border to grab a ticket for this week’s Powerball jackpot, estimated at $700 million USD, the second-largest in American history.

While a $700 million jackpot sounds too good to be true, it sort of is. That number is based on the annuity option which would be handed out to the winner in 30 payments over 29 years.

Not surprisingly, nearly all winners have historically chosen the cash payout which will be about $443.3 million USD in this jackpot.

The draw will take place tomorrow, Wednesday, Aug. 23, at 10:59 p.m. ET in Tallahassee, Florida.

Five white balls will be drawn from a drum containing 69 balls and one red ball will be selected from a drum of 26.

Like most lotteries, the odds are not in you favour. According to the Powerball website, the odds are about 1 in 292.2 million.

The Powerball itself is held to raise money for government programs in the 44 states where the game is played, as well as Washington, D.C., Puerto Rico and the U.S. Virgin Islands.

If a Canadian wins and they’ve come back home with their ticket, they made need help accessing their winning funds as an older rather obscure American law makes it illegal to import lottery tickets into the United States.


 

@carmenweld
carmen.weld@bpdigital.ca

Like us on Facebook and follow us on Twitter.