Powerball jackpot hits $1 billion
COLORADO SPRINGS, Colo. (KRDO)-- Monday night, one lucky person could become a billionaire.
For the second time in Powerball's 30-year history that it has reached one billion dollars.
"This is kind of unprecedented territory, but what we’ve seen when the jackpot gets very large like it is for tonight is it appeals to a very broad section of the population," said Tom Seaver, the director of the Colorado Lottery.
On Monday morning, Colorado Springs residents were at local gas stations testing their luck.
"I am. I’m going in here to buy some tickets in a minute," said Melvin Cramm.
The cash value of the jackpot is just under $500 million, so even if people were on the fence the amount can be convincing.
"Oh, it’s up to a billion, maybe I’ll change my mind," said Donna Lynn, a Colorado Springs resident.
The Colorado Lottery says the odds are slimmer in Colorado than in larger states.
"I think one of the thing that frustrates players in Colorado is that so many of the big jackpots are won in big states like New York or Florida or California, but if you just look at the fact that their populations are so much larger than ours it’s not surprising," said Seaver.
Despite that, everyone has an idea of what they'd do with the money.
"My wife and I talked about giving the family enough where they wouldn’t have to worry about money for a long time. Trips, vacations, places we’ve never been that we’d want to go to, and we’d travel first class," said Cramm.
"I'd give it all away," said Lynn.
"I think most of the value in playing the lottery is like the daydreaming element. There are a few renovations on our house that I would do, and we talked about setting up funds for dog adoptions and dog surgeries," said Virginia Gatz, a Colorado Springs Resident.
A few years ago the lottery made some changes including adding three days of drawings and the double play drawing. Tickets cost $2 and then players can add the Power Play multiplier for an extra $1. Add the Double Play additional draw for an extra $1. The double play drawing for this drawing is $10,000,000.
The changes have made jackpots increase.
"The additional drawing means that again the number of combinations that are played for anyone drawing can be limited by the fact that you run out of time before that next drawing and that helps the jackpot to grow," said Seaver.
