The Powerball drawing on Wednesday, Oct. 11, is estimated to be worth $1.73 billion, and is the second-largest jackpot in U.S. history.
Here’s what you need to know if you’re playing the Powerball:
When is the deadline for buying a Powerball ticket?
Sales cut-off times vary by selling jurisdiction. Please check with your local lottery for more information. In Michigan, Powerball tickets may be purchased until 9:45 p.m. the day of the drawing at retailers throughout the state. Tickets also may be purchased online at MichiganLottery.com.
What days and times are Powerball drawings?
The Powerball drawing takes place at 10:59 p.m. on Monday, Wednesday, and Saturday.
How can you watch the Powerball drawing live?
Powerball drawings may be watched live online at: http://www.powerball.com.
Do you have to match the Powerball numbers in the exact order drawn?
Powerball tickets print the white ball numbers in numerical order of a given play. You can match the white ball numbers in any order of a given play to win a prize. The red Powerball number of a given play on your ticket must match the red Powerball drawn. Each play on a ticket is separately determined; players cannot crisscross play lines on a ticket or combine numbers from other tickets.
How is the Powerball jackpot calculated?
While there are many factors that determine the advertised Grand Prize estimate in the Powerball game; two important ones are games sales and the annuity factor.
A number of variables can affect game sales, such as seasonality or a big Mega Millions jackpot. Traditionally, game sales are stronger for a Saturday drawing versus a Wednesday drawing.
The annuity factor, or the cost to fund an annuity prize, is another key component. The annuity factor is made up of interest rates for securities purchased to fund prize payments. The higher the interest rates, the higher the advertised Grand Prize. You might not realize that an economic reality like interest rates impact even the Powerball jackpot, but they do.