One Ticket Is All It Takes!

May 21, 2013

The record Powerball jackpot has spurred many people to race to their local lottery outlet for the chance of winning big.  If you don’t buy a ticket, you have a zero chance of winning, but if you buy at least one ticket, the odds of winning the grand prize are one in 175,223,510 – according to the Powerball website.  You have a much better chance of being struck by lightning, about a 1 in 10,000 chance over your lifetime.  (But don’t worry, CNN quotes the odds of dying from that lightning strike are actually 1 in 3,000,000.)

However, if you are in a hurry to buy that lottery ticket, you have a 73% of getting a ticket if you’re pulled over for speeding!  Now, that’s one ticket you don’t want to end up with since you more than likely won’t come out a winner.  Several years ago, I was driving a bit too fast coming home from a weekend at the Jersey Shore and ended up with a speeding ticket with 3 points.  Not only did I have to pay a steep fine, but my insurance company ended up being the jackpot winner since they surcharged me for 3 years, starting with an additional $300, then $200, and finally just $100 extra until my penalty dropped off.  That’s one ticket I’d rather not have gotten.

If you get stopped for speeding, you might have a chance of getting your points and/or fine reduced if you go to traffic court. Also, check with your benefits department to see if you have a group legal plan available to you, which could provide you with some legal guidance and representation. Finally, the premium pain can be even worse if you get a ticket for an at-fault auto accident, which can raise your insurance premiums anywhere from 10 to 50%, according to
http://www.healthandautoinsurance.org/impact-of-accidents-on-car-insurance-premiums/, so check with your insurance carrier to see if they offer an “Accident Forgiveness” service.

If you do decide to waste your money on the dream of hitting it big, at least make sure to check your numbers.  An Illinois man had a pile of lottery tickets that had been sitting in a cookie jar for a few months and on his wife’s suggestion, Ricardo Cerezo had the tickets checked out.  The very last ticket was a winner from the February 2nd drawing for $4.85 million.