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CNN Live Saturday

Powerball at $280 Million

Aired August 25, 2001 - 17:09   ET

THIS IS A RUSH TRANSCRIPT. THIS COPY MAY NOT BE IN ITS FINAL FORM AND MAY BE UPDATED.

THIS IS A RUSH TRANSCRIPT. THIS COPY MAY NOT BE IN ITS FINAL FORM AND MAY BE UPDATED.
STEPHEN FRAZIER, CNN ANCHOR: Many Americans hope to be in the black tonight. Thousands of lottery players are snatching up tickets for tonight's Powerball drawing. The jackpot stands at an estimated $280 million. Tickets are being sold in 21 states and the District of Columbia. Joining us from Washington with more on Powerball fever, CNN's Kathleen Koch. Kathleen, we've been down this road before last weekend. Nothing happened then.

KATHLEEN KOCH, CNN CORRESPONDENT: Well they say something is very likely to happen tonight. I don't know if you can see behind me, Brian, but as the clock is ticking these procrastinators are really lining up here at the 11th hour to try their at hitting that enormous jackpot. The cash value now, an estimated $162 million.

There have been lines outside this establishment here in Northwest Washington since it opened early this morning about 8:00 a.m. They say that in the city of Washington, they are selling the Powerball tickets at 28 times the rate they normally would for a normal Powerball game. Everyone we've talked to in these lines seems to have their own strategy for boosting their chances of getting that winning ticket.

(BEGIN VIDEOTAPE)

UNIDENTIFIED MALE: Let the machine do it, it knows better than I do. No magic to it.

UNIDENTIFIED FEMALE: UNIDENTIFIED MALE: I am choosing birthdays. I have four children, I'm choosing four birthdays and mine. That's what I'm coming up to.

UNIDENTIFIED MALE: I have been playing these particular cards right here for about five years now. I haven't changed them. I won't change them. These are the only cards I play, these are the only cards I will play. I have won up to $5,000 with these cards.

(END VIDEOTAPE)

KOCH: But half the money that is raised in lotteries do go into the coffers of the District of Columbia and the 21 states that play the Powerball game. There are critics who say that this is tantamount to gambling and that therefore it is dangerous. Now, lottery officials make no bones about the fact that the odds are against you.

(BEGIN VIDEO CLIP)

BOB HAINEY, D.C. LOTTERY BOARD: This is a game. It's about fun. It's not about a financial investment. The odds of wining this jackpot are 1 in 80 million. If you buy a bunch of tickets you might increase your odds to say 10 in 80 million, 100 in 80 million. That is not a big difference. It is still a long shot.

(END VIDEO CLIP)

KOCH: Lottery officials say that as more people buy tickets that the odds of someone hitting that $280 million jackpot actually increase. The numerical combinations, Brian, are being exhausted and they say that by the end of ticket sale time at 9 p.m. tonight, they expect that 93, 94 percent of the combinations will be gone. So the odds are pretty high of a big winner. Back to you.

FRAZIER: Kathleen, Frazier here. Just a number check. You mentioned a cash value of $168...

KOCH: $162 million, right, cash value.

FRAZIER: That is if you choose to take it all instantly rather than over a period of many years?

KOCH: Correct.

FRAZIER: Understood. Well, good luck to you and everyone behind you there. Kathleen Koch reporting from the District. Thank you.

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