The odds of winning it all are about 176 million-to-1.
But the payoff ? $360 million.
That’s what the Powerball jackpot is up to for Saturday, a height not seen in a year, according to the S.C. Education Lottery.
Should South Carolina sell the big ticket, the state will win with the 7 percent state tax owed on the winnings, officials said. The federal government keeps 25 percent.
It’s been almost two years since South Carolina has celebrated a jackpot win. If it happens Saturday, the winner has the option to take a $250 million cash payout or the annuity, which works out to the full jackpot paid out in 29 installments over 30 years.
“At the end of the day, when the jackpot excitement has passed, the real winner here is education,” said Lottery Executive Director Paula Harper Bethea. “The Lottery was established with the sole purpose to generate revenue to underpin education, and we have committed $3.6 billion to the state. This jackpot run will allow us to transfer even more.”
The numbers for the seventh-largest jackpot in game history will be drawn at 10:59 p.m. Tickets are $2 and are available at most convenience stores and grocery stores.