LANSING, Mich. (WLNS) – The Powerball jackpot has reached a record high! It now stands at $1.9 billion.
Millions of Americans are playing their lucky numbers in Monday night’s drawing.
But some people are already winners.
Many stores that sell lottery tickets only get back a small percentage of ticket sales, but when it comes to the state’s school aid fund and the lucky winner, both will be cashing in.
As of Monday, the power ball sits at nearly $2 billion, which will be paid out over 29 years, or $929.1 million in cash.
We know the winnings would be life-changing for any player. But when it comes to ticket sales, Where does all that money go?
A spokesperson at the Michigan Association for Petroleum and Convenience Stores says if a store sells a winning ticket of more than $100,000, The store would get $50,000.
When the Powerball does reach historic numbers like this, the state’s school aid fund really cashes in.
In 2021 the Michigan Lottery gave a record-breaking $1.4 billion to the school aid fund. This year it’s expected to be even more.
“The legislature and governor really take that money and allocate it as it’s needed for public education throughout the state. We’re just really proud of our contribution that we can put in there,” said Michigan Lottery Players Relations Manager Jake Harris.
So whether you’re a first-time player, or you’ve been trying at it for some time, you can feel safe knowing the money you’ve spent went to a good cause.
The next drawing ends at 9:45 Monday night. The odds of winning any prize playing Powerball are about 1 in 25. So even if you don’t win the historic prize, there is still a chance to take home some money.