Your Odds To Win Powerball Compared To Being Struck By Lightning
The Powerball jackpot is estimated at $1.2 billion for Wednesday's drawing. The odds of winning are 292,201,338-1, but you could buy every combination for $584,402,676. You can take the lump sum or a 29-year annuity. The estimated lump-sum payout was $596 million as of Tuesday.
The highest price one would ever see on any legal wager is +1000000. The implied probability on that bet is 0.01%. On a $1 bet, the payout for an eight-leg parlay with the odds of each leg averaging +1045 would be $295,422,719.66.
There are some examples of sports bets that carry close to the same odds as the Powerball jackpot. NBA betting fans can make a whopping $291,089,634.20 on one parlay. NFL futures parlays can pay out $295,881,299 on a $1 bet.
Jerry Jones may put $2 on the Powerball. The probability of each of these eight legs hitting is improbable but not impossible.
The odds of winning the Powerball jackpot are 292,201,338-1. You need to match all five numbers drawn between 1-59 and the number drawn 1 to 35 to win the jackpots.
