With the recent huge jackpot in the PowerBall (in excess of $1.5 billion), more and more people seem to think that this is a viable way to secure their fortune and/or retirement (which is very different than buying a handful of tickets for the entertainment value).
So what would it take to have a 50/50 chance of winning the PowerBall sometime during your life?
Let's make some assumptions -- you start playing PowerBall as soon as you are legally old enough and play consistently for the next fifty years. Then let's assume that there are twice weekly drawings that work out to 104 drawings per year, or 5200 drawings in your life. Let's assume that each PowerBall ticket is $2 and remains that way throughout that entire timeframe.
How much would it cost you, each drawing, to buy enough tickets have an 50% chance of winning the PowerBall at least once?
So what would it take to have a 50/50 chance of winning the PowerBall sometime during your life?
Let's make some assumptions -- you start playing PowerBall as soon as you are legally old enough and play consistently for the next fifty years. Then let's assume that there are twice weekly drawings that work out to 104 drawings per year, or 5200 drawings in your life. Let's assume that each PowerBall ticket is $2 and remains that way throughout that entire timeframe.
How much would it cost you, each drawing, to buy enough tickets have an 50% chance of winning the PowerBall at least once?