Tag Archives: lotteries
All About Powerball
Powerball is the oldest multi state lottery is the US. Powerball was formerly known as Lotto America and was started in 1988. The game and the name was changed to Powerball in 1992. Powerball drawings are held at Universal Studios in Orlando Florida on Wednesdays and Saturdays at 10:59 PM EST. Powerball lottery tickets are only $1 and players select five numbers from 1 through 59 and one Powerball number from 1 through 39. Players can select their own numbers or can use the quick pick option available at all lottery retailers. Powerball players do not have to match the winning numbers in the exact order they are drawn. For another dollar players can activate the Power Play option which can multiply non jackpot winnings by 2 or 5.
In October of 2009 the Multi State Lottery Association, which operates Powerball, and the Mega Millions consortium reached an agreement allowing the cross sales of tickets for both lotteries in most jurisdictions. Previously states could either sell Powerball or Mega Millions but not both. The move has been popular with lottery players and ticket sales have increased for both lotteries. Powerball holds the record for the largest jackpot won by a single lottery ticket. In 2007 seven workers at a Nebraska Con Agra plant won a record $365 million dollar Powerball jackpot. Previously West Virginia resident Jack Whittaker won a $315 million Powerball jackpot which is one of the largest jackpots won by a single ticketholder.
Powerball has provided many colorful wins. In 2009 a down on his luck South Dakota cowboy won a $232 million Powerball jackpot. Neal Wanless was just about to lose his trailer home and couldnt pay back taxes of $3,552 owed on the family ranch. Wanless said he plans to share his good fortune with other community members. The family had been selling scrap metal to get by. On April 23rd, 2010 a Missouri convenience store clerk who was down to his last $30 dollars won a whopping $258 million Powerball jackpot. Chris Shaw, who was working for minimum wage and was struggling with basic living expenses, will no longer have to worry about bills.
Powerball odds are long and players have about a 1 in 195,249,054.00 chance of matching all five numbers plus the Powerball. Players who match all five numbers without the Powerball can win $200,000. Players who match four numbers plus the Powerball win $10,000. Powerball winners have the option to take their winnings in cash or as an annuity paid in 30 installments over the course of 29 years. Powerball winners have 90 days to one year to claim winnings depending on the rules in the jurisdiction where the ticket was purchased.
Powerball is going strong in the 21st century. Hopefully in the near future Powerball and other lotteries will adopt 21st century technology and offer the sale of online lottery tickets!
International Climate Change Lottery a Possibility
Lotteries are popular around the world and provide funding for a wide variety of government programs, charities, veterans groups and many other organizations. Despite the ongoing global recession lotteries continue to do well and make a profit. In the US most states operate lotteries and there are two major multi state lotteries, Powerball and Mega Millions. Several countries have national lotteries such as the UK and Canada. In Europe the cross border lottery EuroMillions is popular and offers huge tax free jackpots. So far no one has implemented a global lottery but that may change if participants at the next climate change meeting in Cancun Mexico have their way.
The idea of a global lottery has been around since the 1970s and is has been estimated that the global lottery market is worth about $126 billion dollars a year with gross profits amounting to $62 billion dollars a year. Climate change is a controversial topic in many countries but proponents of the global lottery say that it could fund a wide variety of research projects. Revenue generated by the climate change lottery would be channeled to one or many climate research funds.
There are several hurdles that would have to be overcome. Opposition from established government sanctioned lotteries is almost certain. It has been estimated that the global lottery could siphon profits from other lotteries to the tune of $6.2 billion dollars a year resulting in diminished profits for state and national lotteries. Political opposition from any of the first world countries could easily kill any lottery deal. In some countries religious concerns could prevent participation in a global lottery and ethical concerns would have to be addressed.
A global climate change lottery would attract many people who do not normally participate in state and national lotteries. Climate change is a hot topic and many have strong views in favor of climate research and would probably participate and buy lottery tickets for a climate change lottery. The sale of tickets for the climate change lottery would have to be addressed. In Europe, New Zealand and Australia players can purchase online lottery tickets but in the US recently passed online gaming laws and vague regulations could pose a problem for ticket sales.
Some proponents of the climate change lottery have suggested using the EuroMillions lottery as a model for the global climate change lottery. EuroMillions is a joint multi nation lottery where the bets of participants in nine countries are pooled into a larger jackpot. An International Climate Change Lottery could be a step in the right direction and would not cost taxpayers a dime!