Anyone looking to become an instant millionaire should grab a few dollars and head to the closest retailer selling Powerball tickets — the estimated jackpot for Wednesday night's drawing has reached $700 million.
This is the second-largest Powerball jackpot in U.S. history. Tickets are $2 each, and the odds of winning are 1 in 292.2 million. If anyone wins the whole shebang, they can choose an annuity option, receiving the jackpot in 30 payments over 29 years, or take the cash, which significantly reduces the amount of money (in this case, it would be $443.3 million). The winner will also have to pay federal taxes (25 percent), and possibly state taxes (Californians and Texans are among the exempt). Good luck!
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