Powerball Jackpot Surges to Record $600 Million; Here Are Math Facts Every Player Should Know

Powerball Jackpot Surges to Record $600 Million; Here Are Math Facts Every Player Should Know

May 17, 2013 Updated May 17, 2013 at 3:33 PM EDT

The jackpot for Saturday's Powerball jackpot just keeps getting bigger.

The grand prize now sits at an estimated jackpot of $600 million for Saturday's drawing, and if you are scoring at home that would mean a one-time cash payment of nearly $377 million if you choose that payment option.

The $600 million jackpot makes this the biggest Powerball prize in history, surpassing the previous high jackpot of $587.5 million which was established in 2012 and split among three winning tickets sold in Illinois, Kansas and Maryland.

Despite the long odds -- approximately 1 in 175 million to win -- ticket sales are exploding as the drawing nears, according to a report from USA Today.

"This is beyond water cooler talk,'' says Iowa Lottery spokeswoman Mary Neubauer told USA Today. "Everyone wants a shot at it. When jackpots get to this level, we see sales three to four times normal. The universe of players expands to occasional players and a lot of first-timers jumping in."

With that in mind, Business Insider compiled a list of Three Math Facts that Every Powerball Player Needs to Know, and they are:

1. Expected Value

2. Odds of Any Winner

3. How many tickets should I buy to guarantee winning a prize


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