Will the Powerball Winner Select the Annuity Option?

annuity think tankTonight’s Powerball jackpot is worth an estimated $320 Million.  If you are the lucky one with the winning ticket, then you must select either the one time lump sum cash option or the annuity option.  With the $320 Million jackpot, how much would the cash and annuity options be?

 

The cash option would come out to around $200 Million and this is almost always what the winner chooses, but if you do not choose the cash option you will receive the annuity option.  With this option you will be paid 30 payments over a 29 year period.

 

Although the odds are definitely not in your favor to win the jackpot at 1 in 176 million or .000000057%, it is still possible.  Here are some highly unlikely events that you have a better chance at compared to winning the jackpot tonight.

  • Getting struck by lightening – 1 in 10,000
  • Something that I just accomplished late last year… amateur golfer getting a hole in one – 1 in 12,500
  • Getting crushed by a vending machine – 1 in 12 million
  • Hitting a deer with your car in Hawaii – 1 in 6,267
  • Becoming President – 1 in 10 million
  • Getting bit by a shark – 1 in 11.5 million

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