By: Derek Chang
On Halloween of 2022, the Powerball jackpot reached a whopping one million dollars.
Monday’s jackpot wasn’t very commonplace. In fact, it was the second biggest jackpot in Powerball history, just behind the $1.586 billion jackpot in 2016. It was also the fifth biggest jackpot in the entirety of U.S. lottery history. One of the main reasons the jackpot was so big is because no one won since early August; Powerball had 37 drawings without any winnings. The lottery increases the prize when nobody wins.
The winning chances were very low and, according to Emily Rhyne, who works for The New York Times, was only one in 292 million. Despite the jackpot causing many people to try and win, nobody won on Monday because of the slim odds. It was revealed that the winning numbers were 2, 11, 22, 35, 60, and Powerball: 23.
The estimated jackpot on Wednesday’s drawing climbed to an estimated $1.5 billion after nobody won, which makes it very, very close to the $1.586 jackpot in 2016.
However, while winning the jackpot is definitely life-changing, it isn’t always good. Relatives and strangers may come every day begging for money, and it might not end well. Robert Pagliarini, a financial adviser who specializes in “sudden wealth” clients, advises people to stay anonymous if their states allow it, to avoid anybody knowing that you have so much money.
Winners two choices: take all the money at once, or take a little bit over a long time. As Robert Pagliarini says, most clients should take the annuity, but not always. He asks his clients multiple questions to figure out which route to take.
Sources:
https://www.nytimes.com/2022/10/30/us/powerball-jackpot-drawing.html