Powerball Jackpot at $400 Million – But is it Really Worth Playing?
With no winner of the most recent Powerball drawing, the jackpot for the Wednesday (January 6) drawing is expected to be approximately $400 million. But, is it really worth playing?
With the chance of winning the jackpot at 1 in 292 million, it's likely you won't be the next big Powerball winner.
To put it into perspective, here are some things that have better odds of happening to you than winning Powerball.
- Dying from a bee sting - 1 in 6.1 million
- Chance of having conjoined twins - 1 in 200,000
- Chance of making a hole in one on a par three hole - 1 in 12,500
- Chance of drowning or other beach related fatalities - 1 in 2 million
The odds of a huge number of things are better than winning the big jackpot, but according to financial strategist Clark Hodges, when the jackpot is high, if you have the extra money, there's no harm in buying a ticket or two.
Hodges also has some advice for people who spend more than a few dollars occasionally on lottery tickets.
We all know people who are spending $10 or $20 a week on lottery tickets. That same money wisely invested over time would allow you to retire a millionaire."
So, even with the ups and downs of the stock market, the chance of you becoming a millionaire by investing your money are far greater than winning the big lottery jackpot.