Powerball Lotto Tonight: Half Billion at Stake

Okay, it's not as much as the $656 million Mega Millions prize that was shared by three winners eight months ago. But the $500 million Powerball jackpot (up from $425 million) is nothing to sniff at either. The amount shot to a record high after no one won last weekend's draw (for $325 million). And all that for $2 a ticket - now at The Lotter lottery tickets agent online.

The good news: With the jackpot having rolled over 16 times without anyone winning and with the recent spike of ticket sales, experts are "betting" that someone will finally win the jackpot this Wednesday. Lottery officials, such as Chuck Strutt of the Multi-State Lottery Commission, have put the odds of having a winner at 60 percent; and at having no winner for the entire round at five percent.

You've probably heard about the chances of being hit by lighting (1 in 5,000) versus winning a Powerball jackpot (1 in 175 million). Additionally, the odds are you'll be sharing your prize with one or more winners (not to speak of Uncle Sam), especially if your numbers are self-selected instead of computer-picked. The most frequently duplicated numbers are 7, 11, and birthday dates (numbers 1-31).

But in spite of the long odds and the bad economy, people will continue to play Powerball, especially as the jackpot takes off. Why?

A US multi-state lottery, Powerball has many attractions, including: better overall odds, jackpots that grow bigger and faster, and a great winning record. (In 2006, it paid out the third-largest prize - $364 million - awarded to a winning combination in a US lottery.) Powerball jackpots start at $40 million, increase by at least $10 million between drawings, and grow until somebody wins.