In a few drawings to come, Powerball, the world’s most popular lottery game – best known for its wondrous jackpot prize amounts, is set for some major changes. The Multi-State Lottery Association and the Powerball Product Group lately announced plans to make changes to the starting jackpot amount for Powerball.
They intend to cut the game’s traditional starting jackpot of $40 million by half. But, this will only come into effect as soon as the current jackpot run is won.
And that is not all. The downsizing will include the weekly jackpot increases. However, the jackpot rollover increments will drop to a minimum rolling increase of $2 million. So, now jackpot prizes are expected to grow slowly. That’s because of the minimum increase of $2 million instead of the normal $10 million.
The Powerball jackpot for Saturday is estimated at $170 million. So, traditionally, if there was a winner the game would reset to $40 million. But with the new downsizing changes in play, lottery officials say the new Powerball default jackpot will be $20 million. But if again, no jackpot-winning ticket is played in Saturday’s drawing, then the jackpot will grow as accustomed by about $10 million to an estimated $180 million in annuity value until it is won.
“Powerball players in many U.S. lottery jurisdictions are under shelter-in-place orders or recommendations from their governors or mayors, which have affected normal consumer behaviors,” said Gregory Mineo, Powerball Product Group Chairman, and Maine Lottery Director. “Just like other enterprises around the world that are making adjustments, we are making proactive changes to continue to offer the world’s premier lottery product.”
Even though the starting jackpot sizes decrease, the odds of picking the winning combination remain the same – 1 in 292,201,338. It doesn’t matter whether the jackpot size is $20 million or $1.586 billion.
Powerball jackpots start at $20 million and roll until the jackpot is won. The overall odds of winning are 1 in 25 chances. Players win a prize by matching one of 9 ways to win. However, you win the jackpot by matching five white ball numbers and the red Powerball number. Powerball tickets costs $2 per play.