Playing the lottery is the ultimate low-risk, high-reward scenario. If you lose, you’re only out a few dollars: the cost of your bet. But if you win, even though the odds are stacked against you, the payoff is a lifetime of easy living. This evening, Wednesday, January 13th, will mark the richest lottery jackpot in history, with the current Powerball jackpot at a whopping $1.5 billion, a new record in lottery games worldwide
In order to win, you need to match five normal lottery numbers — white balls numbered 1-through-69 — plus the Powerball: a red ball numbered 1-through-26. Each Powerball ticket costs $2, plus you have the option to pay an extra $1 to activate the power play, a multiplier that increases your payout for non-jackpot prizes.
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But what does mathematics have to say about this? In particular:
- What are your odds of winning each individual combination?
