Rockford University Economics Expert Breaks Down Odds Of Winning Lottery

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Karen Koontz purchased twenty dollars of Powerball tickets, in hopes of winning the $500 million dollar jackpot.

Koontz says. “[There are] more [lottery] numbers to choose from, better odds.”

The $500 million dollar Powerball drawing is the fourth largest ever, and sixth largest jackpot in United States history.

Stateliners, knowing the life-altering change that winning the lotto would bring to their pockets, did not purchase only one ticket.

Lottery player Donald Henderson says, “If I won $500 million, it would be a life-changing event. I don’t know what I would do with that. I may even drop dead if I won a ticket like that”

Experts say you have just as good of a chance hitting the jackpot if you buy 1 ticket as you do buying 20 tickets.

Rockford University Economics Professor Robert Evans says, “Unless you bought a million tickets or something like that, [purchasing 20 tickets would not] significantly increase your chances of winning, because there’s so many different combinations of the numbers that can turn up.”  

Evans says Stateliners should invest their money elsewhere, instead of purchasing a lot of tickets.

He says, “If you counted up all the money you spent on lottery tickets and put it away somewhere in some type of interest baring account, you’d do much better [financially].”

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