The jackpot for Wednesday's Powerball drawing is estimated to reach $1 billion for just the third time in history. All this news about historically huge jackpots and lucky local winners may have you wondering: 'Are my odds looking any better than usual?”
, the Powerball jackpot odds similarly shifted from 1 in 175.2 million to 1 in 292.2 million. While the odds of winningThose adjustments have led to multiple advertisedin excess of a billion dollars in just the past year. As it becomes more difficult to produce a winning ticket, jackpot prizes go unclaimed and roll over into even larger pools for the next drawing.
Matheson said this new reality — in which computers can be used to buy numbers — adds a potential hindrance for individual lottery players. In the past, were an individual or group to attempt to"" by buying a huge portion of any given drawing's available tickets, they would have to physically purchase tens of millions of individual slips within a two-to-three day period ahead of a large lottery drawing.
“With game play, game odds, prizes and costs to play each game remaining the same, that change to three weekly drawings has provided players with more chances to play for larger and faster-growing jackpots,” Texas Lottery Commission media relations specialist Steve Helm wrote in an email to KUT.But more chances to play doesn’t necessarily mean you’re more likely to win, said Michael Robinson, a psychology professor at Concordia University who studies gambling addiction.
To think about it another way, given there are three weekly drawings, that means it could take tens of thousands of years for your “turn” — the point at which you would have a statistical probability of winning a lottery jackpot — to come up. And Robinson said there’s no guarantee a given person would even win with so many attempts.Humans are inclined to overestimate chances of things turning out better for them personally than for anybody else.
Between November 1992 and July 2021, there were 38 prizes of at least $1 million distributed to Austin residents. That would average out to approximately 1.3 Austinites per year winning lottery prizes of at least $1 million.
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