Recent players of the Powerball Lottery in New Jersey should take a moment to check the address where they bought their tickets. Those winning tickets will require the winner to return to the store where they bought their tickets in order to collect on their prize.
The Powerball craze it here to stay. It has a relatively short history that had allowed many players to make their financial dreams come true. Individual states have participated in lotteries for years. Voters have made it clear to their state’s governments that they want to play the game and states have come to realize that the revenue earned from lotteries can be quite helpful toward otherwise underfunded state coffers for things like nature reserves or other issues that are relevant to the residence of a respective state.
For many who play the lottery, $2 or $3 is a small price to pay to dream big. What started out in the USA as Lotto America in 1988, and then later became Powerball in 1992, has become a part of the collective psyche of many citizens. In 2002, Mega Millions replaced The Big Game. Now everyone who has a few extra bucks is eager to cash in their prizes. Indeed, when the prize grows to nearly astronomical sums, mathematicians and statisticians become the darling of the media, explaining the odds of winning and how to select numbers to play.
Powerball created a different means of drawing numbers. In the past, only one tumbler was used. That changed when two tumblers were brought into the process. The reason behind the change was to allow more manipulation, thus allowing for higher jackpot odds yet lower winning odds. The way the game is played is that a player over the age of 18 (19 in Nebraska; 21 in Arizona and Louisiana)buys a ticket for $2 and selects 5 numbers; if they want to play for the Red ball, the pay an additional $1 and select on number to represent the Powerball. They have an option of selecting the numbers or using random selection at the register. The base amount before the pot grows is set at $40 million as of 2012.
The last really big jackpot was recently one by Gloria Mackenzie, age 84. She was the only winner of the jackpot totaling $590.5 Million, which is the largest single jackpot winner–ever. She opted to take the lump sum payment of $370.8 Million, which is what is left after taxes are deducted. She could have opted for a 30 year graduated annuity that all players are offered, but she wisely chose the lump sum payment.
When the next big jackpot is offered and the lines begin to grow you should know that the deadline to buy tickets is 10:00 pm EST, but some states cut off earlier than that. The drawing is then help on Wed and Saturday at 10:59 pm EST. If you are the lucky winner report to the store where you bought your ticket and THEN start dreaming.
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