Your Chance of Winning the Jackpot Is
Ever wonder what your real chances are of winning the lottery? This page breaks down the real math behind Powerball in a simple way, with special info for North Carolina players. Let's find out what's really going on!
Just How Unlikely Is It?
Winning the jackpot is super, super rare. Look at this chart to see how winning compares to other amazing or crazy things happening to you!
What's a $2 Ticket Really Worth?
Even though you pay $2 for a ticket, its actual value is much less. "Expected Value" is like the average amount you'd get back if you played millions of times. Let's see what it is for Powerball.
Average Value of Your $2 Ticket
$0.32
This means for every $2 you spend, you only get about 32 cents back on average. It's almost always a losing deal!
Are There Any Secret Game Plans?
People have all sorts of ideas to pick winning numbers. But do these tricks actually work? Let's look at the facts.
Myth: Some numbers are "due" to be picked.
Some people think if a number hasn't been picked in a while, it's "due." Or if a number is picked a lot, it's "hot."
Fact: The lottery balls have no memory! Every single drawing is brand new and totally random. A number's past doesn't change its future chances.
Powerball in the Tar Heel State
When you play Powerball in North Carolina, you're playing the NC Education Lottery. Here's what that means for you and our state.
Where Does the Money Go?
A big chunk of the money from ticket sales goes to help education in North Carolina. It supports important things like:
- 🏫Building Schools: Helping to build and fix schools in all 100 counties.
- 🎓College Scholarships: Giving scholarships to students who need them.
- ✏️Pre-K Programs: Helping more kids get into Pre-K programs.
Taxes for NC Winners
If you win a big prize in North Carolina, you have to pay two types of taxes:
This means your final take-home prize will be smaller than the number you see on TV. It's important to plan for this!
What If You Actually Win?!
It's almost impossible, but what if it happens? You have a big choice to make about how you get the money.
How to Take the Money
You have two choices: get a giant pile of cash right now, or get smaller payments every year for 30 years.
Lump Sum: The Big Payout NOW
~$173 Million
(After taxes, from a $500M jackpot)
- ✔ You get all the money at once.
- ✔ You can invest it to make it grow faster.
- ❌ It's a smaller amount than the annuity total.
- ❌ It's easy to spend it all too quickly.
Annuity: Payments For 30 Years
~$10.5 Million a Year
(After taxes, for the first year)
- ✔ You get more money in total over 30 years.
- ✔ It protects you from spending it all at once.
- ❌ You have to wait a long time to get all of it.
- ❌ You can't invest the full amount right away.
Your First Steps After Winning
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1
Don't Tell Anyone! Seriously, keep it a secret at first. Don't even sign the ticket right away. This keeps you safe.
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2
Get a Team of Experts. Before you do anything, hire a good lawyer, a money expert (accountant), and a financial planner. They will help you make smart choices.
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3
Make a Plan. Your team will help you decide what to do with the money, like how to pay taxes and invest it, before you even get the check.
Watch Out for Lottery Scams!
Sadly, some people try to trick you into thinking you've won. Here are some red flags to watch out for to stay safe.
Red Flags: It's a Scam If They...
If The Odds Are So Bad, Why Do We Play?
Our brains play funny tricks on us that make playing the lottery seem like a good idea, even when the math says it isn't.