12 Things You Need To Know About Entering The US Powerball In Australia

    But there's a few things you should know before you take a punt.

    1. People have been queueing up around America for their chance to enter the Powerball jackpot, which has reached a record-breaking $1.5 billion (USD).

    2. That's $2.1 billion in Australian dollars!!!!!

    3. There have been reports that Australians can buy tickets in the Powerball, but that's not *technically* true.

    4. There's a Gibraltar-based lottery company called Lottoland that is allowing Australians to play along.

    5. But when you enter the draw with Lottoland, you're not actually buying a ticket in the Powerball, you're just betting on the results.

    6. Lottoland takes out insurance against the bets with Lloyds, so players are paid out if they win.

    7. It will cost you $14 to play in Australia. That's seven times more than what it costs in the US.

    8. So if you pick the winning numbers, you'll get the cash! But if someone wins in the actual Powerball, you only win 50%, because that's what you'd get if you entered in the US.

    9. And the sum you would receive would be minus the equivalent of the US tax, so 35%.

    10. Lottoland says 33,000 Australians have already entered the US Powerball.

    11. Oh, and you can't enter if you're in South Australia.

    12. The US Powerball will be drawn at 2pm on Thursday (AEDT).