Winning the Powerball jackpot is the dream of millions of people. Who wouldn’t want to take US$1.76 billion from Texas? However, in order to play or manage the money earned, there are myths that you must reject. In this note you know what is most common.
On October 6, 2023, the second largest in the history of the US lottery came out in Texas, surpassed only by the US $ 2.04 billion won by Edwin Castro, in November 2022, in California. This enormous amount increases the desire of millions of people to acquire wealth.
Around games of chance, such as the famous Powerball lottery, however, there are many myths about how to play, how to increase your odds, as well as how to manage your money.
WHAT ARE THE COMMON MYTHS ABOUT POWERBALL?
Learn four myths about Powerball, according to the New York Journal:
1. Playing the same numbers increases your chances of winning
Many believe that regularly playing their lucky numbers, such as anniversary or birthday dates, will increase your chances, but you should know that in each draw the numbers are drawn randomly. Most winners come out randomly.
2. Claiming your pot in cash is better than annuities
If you win the Powerball jackpot, you can choose whether you want the prize in one payment, which reduces the prize by less than half, or in 29 annual payments. Most people prefer to ask for cash payment, but they don’t always know how to handle a large amount of money. Annuities, on the other hand, allow you to have a margin of error and have the time you need to think about your investments.
3. You don’t need an advisor to handle the Powerball jackpot
Since no one is ready to manage so much money at once, it is important to seek special financial advice so as not to fall into waste or mistakes that leave us worse than before. It happened.
Having an advisor can help you make a plan for your future income, as well as determine how much you can comfortably spend now and possibly in the future. It also helps you stay anonymous. Also, an accountant can help you meet your tax obligations and a lawyer can handle estate planning.
4. If I win a Powerball prize, my life will be ruined
Many times we hear stories of people who are devastated after winning the lottery, even dead. However, there are studies that show that lottery winners are happier. The important thing is to manage the Powerball jackpot in a responsible and orderly manner.
WHAT ARE THE POWERBALL PRICES?
- 5 numbers + Powerball: Jackpot (jackpot)
- 5 numbers: 1,000,000 dollars
- 4 numbers + Powerball: $50,000
- 4 numbers: 100 dollars
- 3 numbers + Powerball: 100 dollars
- 3 numbers: 7 dollars
- 2 numbers + Powerball: 7 dollars
- 1 number + Powerball: 4 dollars
- Powerball number: 4 dollars.
