How big a prize do you need before you decide to play the lottery?
Is one-third of a billion dollars enough money for you to go out and buy lottery tickets? Powerball's estimated prize in Saturday night's drawing is $325 million, which is about $40 million off the all-time record, according to Lottery Universe. The cash prize option is "only" $212.8 million. But with the odds of getting a ticket with the winning numbers worse than 1 in 175 million, will you play the game? It costs $2 per ticket. The "Powerball multiplier" adds $1 to the ticket price, but could increase the size of any non-grand prize amount. Powerball is played in 42 states, Washington, D.C. and the U.S. Virgin Islands. Friday's MegaMillions jackpot is "only" $41 million. Heck, even Friday's Fantasy Five drawing is worth more than $300,…
If you're from Georgia and you play the lottery, you may be playing a losing game.
Thursday, March 29, 2012
Are Georgia lottery players bigger suckers than folks in other parts of the country? Could be. A recent study in Bloomberg showed that Georgians not only play big when it comes to the lottery, they also lose big. This has earned them the title of "biggest suckers" in America. According to a report in AOL's Daily Finance, Georgia residents spent an average of $470.73 per adult on lottery tickets -- or $3.4 billion -- over the past year. This number represents 1 percent of Georgian's collective annual income. The payouts however, were not so great -- just 62.9 percent. Even though the odds are long (1 in 175 million), the lure of a half-billion dollar jackpot is sure to bring out a lot of suckers -- Georgians and others. So do you have your…