MYRTLE BEACH, SC (WBTW & AP) – A lottery official says the estimated Powerball jackpot remains at $1.5 billion, still the largest lottery jackpot in the world. The odds of matching all six numbers to win the jackpot are 1 in 292.2 million.
For people in Myrtle Beach, just having a chance at the prize is enough to get them out to play. Lottery officials say about 86 percent of the possible number combinations had been sold by midday today. Cashiers at local convenience stores say as the jackpot grows, so do their lines.
“A lot of people buying tickets, I mean we’ve been slammed. One day we did over seven grand worth of online tickets. Yes, and normally we do like $300-$500, so that’s crazy,” Turtle Market Cashier Azelyn Young said.
Young says lines have been out wrapped around the store and they’ve been busy all day. Horry Georgetown Technical College Associate Professor Norman Godwin says for most people it’s all about the fantasy over reality. Something that’s fine if kept in fun but it many cases, it’s not even worth the cost of the ticket to play.
“The $2 ticket you buy, the actual expected value of that in statistical terms is somewhere around $1.50 to $1.75. So it’s still fun to think about, but one in $292 million [are your odds],” Godwin said.
The $1.5 billion prize would be paid in annual payments over 29 years or the winner could opt for a lump-sum payment of $930 million.
If no one wins the drawing, then the jackpot will grow from $1.5 billion Wednesday to about $2 billion on Saturday.
