Country Eyeing Record $1.5 Billion Powerball Jackpot

After the Powerball changed its odds from 1-in-175 million to 1-in-292 million last fall, it seemed likely that the country would eventually see a $1 billion jackpot.

It only took until the first half of January.

Thanks to no winner since Nov. 4 of last year, Wednesday night’s drawing (10:59 p.m. EST) stands at a whopping $1.5 billion. Powerball players have spent more than $2.25 billion on tickets since the last winner, according to CNN.

Americans spend more than $70 billion on the lottery each year, making it the most popular form of gambling in the nation. Casinos nationwide don’t win that much from gamblers each year, though it’s pretty close. More than half of the adults in the U.S. play the lottery.

It almost goes without saying that Wednesday’s drawing is a record. The previous record U.S. jackpot was the Mega Millions in March 2012 that paid out $656 million. There were three winning tickets in that one. The hysteria has created a windfall for some Boston-area psychics. “You are the power behind the ball," one told the Boston Herald.

Powerball is sold in 44 states, Washington, D.C., Puerto Rico and the U.S. Virgin Islands.

Thanks to the lottery being nothing but a pure gamble, the success of it has some rightfully wondering why online poker is still only legal and regulated in three U.S. states. Last year, no additional states joined Nevada, Delaware and New Jersey in the online poker realm. Roughly a dozen states have some form of online lottery services.

“Every dummy with $2 is buying a Powerball ticket tonight, but let’s make sure daily fantasy sports and online poker are illegal,” Joe Wanninger, an entrepreneur from Indianapolis, tweeted.

As for what to do with the jackpot should you win, one Las Vegas man has an idea:

Experts always say to avoid giving money to strangers after winning. In 2013, a 45-year-old grocery store owner in Passaic, New Jersey took a lump sum payment of $221 million from the Powerball and then pledged to pay the rent for everyone in his neighborhood. According to The Daily Mail, he didn’t make good on his promise, and he was later sued by his former girlfriend.

While it’s unlikely anyone accidentally throws away the winning lottery ticket this week, any potential winners should remain calm after reading a winning ticket and not blow up their house celebrating like two men in Kansas did in 2013. Unless, of course, you have what you think is a winning ticket only to be told that it was a misprint.

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