Saturday’s Powerball drawing will be the biggest in U.S. history after hitting $1.6 billion
The Problem With Mega Jackpots Like the $1.6 Billion Powerball Drawing
The incredible sum—more than 22,000 years worth of earnings for the median American household—is driving lottery players into a frenzy. But as jackpots like this one grow, so do criticisms that lotteries are becoming increasingly predatory and harmful to many people who play them. But the major lotteries also changed the rules to ensure that jackpots get bigger and bigger—in an effort to garner media attention and generate buzz. In 2012, Powerball tickets went up from $1 to $2 per ticket and the game format has since undergone several changes to expand the number pool—and make it less likely that any individual drawing results in a jackpot winner. The effect is that jackpots have swelled.
With an estimated cash value of $782.4 million after taxes, the winning Jackpot numbers will be announced from Tallahassee at 10:59 p.m. ET on Saturday, Nov. 5. If there are no winners on Saturday, the jackpot will continue to grow.
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