The Powerball jackpot is expected to reach an all-time high of $1.4 billion by the time the winning numbers are announced on Wednesday. This number keeps rising mainly because no one’s ticket matches last week’s winning numbers. According to USA Today 's Bart Jensen and Kara Richardson, the chances of picking the magic number combination are so slim that they're almost unimaginable. Your chance of winning is approximately 1 in 292 million. So, good luck to you. Depending on whether you're new to Powerball or an avid Powerball player, these simple tips will improve your chances of winning Powerball...at least slightly.
Update: This article was originally published in January 2016. As of August 23, 2017, the new Powerball jackpot has reached $700 million (it would have been $1 billion without a winner). The Powerball drawing will take place at 10:59 p.m. ET.
Earlier: Everyone has their own lucky number, and if you're a newbie, you might be tempted to add it to your list. But statistics show that you should actually avoid picking any numbers yourself. On Saturday, a chance to win the jackpot was missed when no one guessed the Powerball numbers 13, 16-19-32-34-57.
Jeffrey Miecznikowski, associate professor of biostatistics at the University at Buffalo, told USA Today that Powerball number 13 may be the culprit. He points out that people tend to think of 13 as an unlucky number, which explains why people don't choose it. This makes perfect sense, considering it's just part of our culture to avoid numbers if we can help it. Superstition warns us about Friday the 13th, and buildings rarely even list the 13th floor—in elevators, the buttons usually go from 12 to 14.
ABC News shows that many lottery players base their numbers on meaningful dates. However, according to the Powerball website, 70 percent of winners leave their fate to the computer system's "Quick Pick." If you're just starting out, this might be your best option. But things aren't always that simple; the rules change depending on how often you play.
If you're an avid Powerball player, ignore the first tip. Frequent players actually have a better chance of winning if they commit to the same number combinations each time and buy several (or dozens) tickets at a time. In this case, the most common winning numbers listed on the Powerball website are 32 and 41. ABC Denver estimates the probability of these two numbers appearing is about 7%.
There is a lesson worth learning here. Since your chance is only 1 in 292.2 million , the odds are not in your favor no matter what. Keep in mind that the way you choose your numbers may only play a minimal role in increasing your prospects of becoming a billionaire. If you do win, though, CNN recommends taking the money as a lump sum (already taxed as income at the time) and investing it in tax-free bonds.
