AirTalk for April 8, 2013

Powerball lottery comes to California

US-FINANCE-LOTTERY-POWERBALL

SAUL LOEB/AFP/Getty Images

A Powerball lottery ticket for the estimated record 425 million USD jackpot prize, Powerball's biggest winnings ever, is seen in a convenience store in Washington on November 26, 2012. Today California becomes the 43rd state to join the Powerball lottery.

California becomes the 43rd state to join the Powerball lottery today, giving residents the chance to play for a jackpot that starts at $40 million and can rise to hundreds of millions of dollars. Tickets for the Powerball lottery cost $2 instead of the usual $1, and drawings will be held every Wednesday.

This week’s jackpot is estimated to reach $60 million – the odds of winning Powerball are 1 in 175,223,510.California’s entry into the Powerball game is expected to generate $90 million t0 $120 million for the state, some of which would go into education funding.

Is the lottery a fool’s game? Will Powerball money have a significant impact on California schools? Will you play the game?

Guests:
Elias Dominguez, spokesperson for CA Lottery  

Jonathan Kaplan, senior policy analyst at the California Budget Project


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