While it is possible to win on Saturday Powerball jackpot of $427 millionthe odds are against you.
The probability of matching the six numbers in the draw is 1 in 292,201,338, according to the lottery. That’s less likely than being struck by lightning twice in your lifetime, which is 1 in 234,090,000, according to data from the National Weather Service.
As miraculous as those odds seem, you have a much better chance of winning smaller prizes if you match fewer numbers in the draw:
- $1 Million Prize: Match five numbers (1 in 11,688,054)
- $50,000 Prize: Match four numbers and the Powerball (1 in 913,129)
- $100 prize: Matches four numbers (1 in 36,525)
- $100 prize: Match three numbers and the Powerball (1 in 14,494)
- $7 prize: Match three numbers (1 in 580)
- $7 prize: Match two numbers and the Powerball (1 in 701)
- $4 prize: Match a number and the Powerball (1 in 92)
- $4 prize: Match only the Powerball (1 in 38)
The overall odds of winning any prize with one ticket are 1 in 24.87, according to the Multi-State Lottery Association that administers the lottery.
Each ticket costs $2, but if you spend an additional $1 for the lottery Power Play multiplier, you could increase all prize amounts except the jackpot by two, three, four, five or 10 times. The prize multiplier is randomly selected as part of the draw.
However, there are a couple of exceptions. Match 5 winnings are always doubled to $2 million with the Power Play option, no matter which Power Play number is drawn. The 10x multiplier is only available when the jackpot is $150 million or less.
California is the only participating state that does not offer Power Play.
Considering the incredible odds, you should only bet what you are willing to lose, as it is highly unlikely that you will win a big payout.
The next drawing is Saturday at 10:59 pm ET. If the numbers do not match a ticket, the jackpot funds will roll over to the next drawing, which is Monday at 10:59 PM ET.
If you somehow beat the odds, here are four things you should do before claiming the prize. You may also want to avoid thunderstorms for a while.
DON’T MISS: Do you want to be smarter and more successful with your money, work and life? Subscribe to our new newsletter!
Get CNBC for free Warren Buffett’s Guide to Investingwhich synthesizes the billionaire’s #1 best advice for regular investors, the do’s and don’ts and three key investing principles into one clear and simple guide.
