Cost To Play Powerball Is Going Up
Anytime I hear about someone winning money, I think "Big Money! Big Money!' That's something I remember contestants on Wheel of Fortune yelling out when I was growing up. Seemed like my grandma would have show on every night, right after the 6:00 news.
I don't mind thinking about the big money part. You too, I'm sure. That's why we all buy lottery tickets. Or think about buying them, at least.
Today, the cost to play POWERBALL goes up to $2 a ticket. Without a doubt, there will be some people complaining about the increase. Those same people would complain if they won the jackpot, too. (And to be fair, I'd be the guy complaining about having to pay the taxes, but I digress.)
The good news is, that increase in per-ticket cost means the jackpots will be larger. Right now, the average jackpot is $141 million. With the increase in ticket cost, the average jackpot will now be $255 million.
Let me think about what I'd do with a cool $255 million. Let's say, what, 50% off the top for taxes? That leaves $125 million. First, pay off my house which hasn't sold yet (in Toledo). Next, pay off the car loan. Make sure my parents are comfortable and have enough money so mom doesn't have to worry about their finances. Pay off both of my brothers mortgages. Donate to the Humane Society and/or SPCA. Have my 1970 Impala fully restored. Alright, what to do with the $100 million left over?