The US Powerball has one of the biggest lottery jackpots in the world, guaranteeing a minimum of $20 million paid out to the winner. If you’ve ever dreamt of buying the latest iPhone 13, hitting such a jackpot could fetch you quite a lot of them, to say the least.
The online lottery enthusiasts from OnlineLottoBaba did the math and found out that you could buy a stunning 8,130 iPhone 13 devices with that kind of money. And we’re not talking about the cheap version, but the iPhone 13 Pro Max with 1 TB of storage. To put that in perspective, that’s like receiving a new iPhone 13 every day for 22 years.
The math is based on the price advertised on Apple’s web store, which is $1,599 and the fact that lottery winnings are taxed at approximately 35%. If you win $20 million, the money you receive would be $13 million (0.65 * $20 million). If you then divide $13 million by $1,599 you get 8,130 iPhone 13 devices.
The truth is though, that if you would be lucky enough to win the Powerball jackpot, you would be more likely to afford 100 thousand iPhone 13s or even more. This is because the jackpot is progressive and gets bigger and bigger when nobody wins it. The average prize paid out this year has been $332 million.
With all of this being said, the mentioned number of iPhone 13 devices is based on the fact that you would receive your jackpot winnings as an annuity. If you would choose to receive the entire amount at once as an instant prize, you would actually receive 30% less. So, on a $20 million win after tax, $9,1 million would be left ($20 million * 0.7 * 0.65). This could buy you 5,691 iPhone 13s. Not quite as many, but still a lot!
Fact: Apple had recently put a limit on people buying more than two iPhones from its online stores. However, the limit has now been lifted so you can buy as many as you want.
What Would You Do if You Hit the Powerball Jackpot?
Unless you’re a little bit crazy, we know for sure that you wouldn’t buy thousands and thousands of iPhones 13s if you won the jackpot. But what exactly would you do? Buy a 24k gold plated phone cover? Travel to a particularly remote or luxurious destination? Go on a shopping spree of the latest tech devices? Visit space? The possibilities are endless. Let us know what you would do in the comments below!