Powerball Fever Returns With Near Record Jackpot

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Tropical Depression 9 Forms In The Atlantic
MIAMI (CBSMiami) – Tropical Depression Nine has formed off the coast of Africa. The National Hurricane Center reports Tropical Depression Nine has winds of 30 mph and is moving west at 10 mph. As of 5:00 p.m., Tropical storm warnings are in effect for the southern Cape Verde Islands of Maio, Santiago, Fogo and Brava. Tropical storm conditions are expected within 24 to 36 hours, but the center of the depression should stay to the south of the Cape Verde Islands. Forecasters expect the depression to eventually become a tropical storm Monday. Tropical Depression Nine could produce 4 to 8 inches of rain across the Cape Verde Islands with some isolated 12 inch amounts. The depression is expected to become Humberto and could be the first hurricane of the 2013 season.

MIAMI (CBSMiami) – With the next drawing of Powerball soaring to near record heights, South Floridians are joining in the frenzy.

Wednesday’s Powerball drawing is an estimated $400 million jackpot, the sixth-largest in U.S. lottery history.

The current jackpot has rolled over more than a dozen times without a top prize winner. If no one strikes it big on Wednesday, the jackpot only gets bigger.

But what are the odds of actually winning? How about 1-in-175 million.

Officials over the years have noticed the trend that the larger the jackpot, the more interest in the top prize and a surge in players. But remember your odds of winning a jackpot of $40 million is the same as if it were the current estimated $400 million. That’s because every time you play, you’re still looking to match all five white balls and the red Powerball. The odds of winning don’t change as the jackpot escalates, and they change very little even if you buy 10 tickets instead of one.

The lucky winner of the $400 million jackpot could select to take the jackpot in 30 annual payments or chose a one-time cash option. That would reduce the winnings to about $228 million before taxes.

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