CHICOPEE, Mass. (WWLP) – Residents are out buying their tickets for a chance at Wednesday night’s Powerball jackpot, which has grown to be the second largest jackpot in U.S. history.
The grand prize is sitting at $700 million, with an estimated cash option of $443 million.
Since the jackpot started to grow, Massachusetts residents have spent more than $32 million on Powerball tickets. For every dollar spent on Powerball, half goes to the prize pool, 42 cents goes to the state, and the rest pays for fees and sales commissions.
So what would you do with $700 million? Ludlow resident Bob Duarte told 22News “I’d probably retire and relax for the rest of my life. I have three children. I’d help them all out, everyone out.”
The odds of winning, at one in nearly 300 million, are slim. You would be able to choose the one-time cash option or the annuity option, which would pay out yearly.
To win, you need to match all five of the numbers drawn, as well as the extra Powerball number. You could pick your own lucky numbers or choose to have the numbers randomly chosen for you. Tickets are $2 each and can be purchased until 9:50 p.m.