UPDATE: Powerball Jackpot skyrockets to $1.5 billion
UPDATE 1/12/2016 12:34 PM: The Powerball Jackpot continues to jump, now reaching $1.5 billion.
The winner will have the option of taking the prize for a lump sum of $930 million or the whole amount over 30 years.
The next drawing will be Wednesday at 11 p.m. ET.
UPDATE 1/11/2016 9:30 AM: With no winner Saturday night, the Powerball jackpot is now $1.4 billion.
The odds of winning are 1 in 292 million.
The next drawing will be Wednesday at 11 p.m. ET. If you’re looking to buy, here’s a list of the 2015 Lucky Retailers.
ORIGINAL STORY: What would you do with $800 million? It’s a question many are pondering as Saturday’s Powerball draw inches closer.
Maggie Bottone from Salinas said, “I would like to have a brand new house.”
Ignacio Mendez said, “Set up a scholarship fund and do some upgrades at the school I teach at, Alisal High School.”
The $800 jackpot is the largest of any draw game to date. Back in May of 2013, a single ticket bought in Florida matched all six numbers for a $590.5 million prize.
Star Market and Santa Cruz Market in Salinas, known for their lucky reputations, cranked out tickets non-stop.
“It’s wonderful for business,” Santa Cruz Market’s Heather Jennings said. “Everybody is happy, you know, keep the neighborhood going.”
Even though there’s a higher chance of getting bitten by a shark or struck by lightning, customers say with a jackpot this big, you have to play your odds.
“I feel like I have known somebody who has been struck by lightning, and I know a few people that have been associated with shark bites, so you never know,” April Wilson said.
The lucky winner will have the option of taking one lump sum of more than $490 million.
“I would take the lump sum because that comes from the point of view of I’d rather be in control of the money myself rather than let the state pay it out on their schedule,”Hayashi WaylandCertified Public Accounty Alan Stark said.
Stark says if you do hit it big, the first thing you should do is call an attorney to handle media and hire a financial planner.
“Pick a number… $50,000, $100,000, even a million and go spend it however you want,” Stark said. “Get that out of your system and then with the rest of it, let’s plan wisely.”
