Known for life-changing jackpots, Powerball is changing the way those jackpots are generated. With nine ways to win in each drawing, players are given the chance to not only win big, but to multiply their winnings with five different Power Play multipliers. All prizes are set cash amounts as always – this won’t change, but what has changed is the way those bigger prizes are generated.
Powerball costs $2 to play. Select five numbers from 1 to 69 for the white balls; then select one number from 1 to 26 for the red Powerball. Choose your numbers on a play slip or go for a lucky dip - a random pick of numbers. Prizes range from $4 for matching the red ball to multiple millions for matching all white and the red.
The odds of winning are slimmer than my waistline – a lot slimmer. To win the smallest prize by matching the red ball, your odds will be 1 in 38.32. Winning the grand prize is 1 in, you ready for this? 1 in 292,201,338.00! But someone’s got to win, right?
To bring those Power Play multipliers in, not only will your bet increase, but should you win, your prize will be multiplied by the stated multiplier! So, let’s say you’re playing Power Play 10x and you win $100, you will win ten times that and it’s all real money!
What’s Different?
The Powerball Product Group got together at the beginning of the month to implement some changes to the way things operate. The figureheads announced that the instead of pre-selected jackpot amounts per drawing, the jackpots would now be based on sales and interest rates.
The guaranteed starting jackpot and minimum increases will be announced prior to each drawing. Previously, jackpot seeds were $40million (annuity) and were increased by $10millilon (annuity) between drawings. Now, the starting jackpots will reduce to $20million (annuity) and are set to increase by $2million (annuity).
Gregg Mineo, Powerball Product Group Chairman and Maine Lottery Director said: “These changes are necessary to ensure that ticket sales can support the Powerballjackpot and other lower-tier cash prizes. Our number one priority is making sure that the Powerball game can continue to assist lotteries in raising proceeds for their beneficiaries.”
Tickets are sold in 45 states in the US, the District of Columbia, Puerto Rico and the U.S. Virgin Islands. Draws are broadcast live twice a week; every Wednesday and Saturday at 10:59 p.m. ET from the Florida Lottery draw studio in Tallahassee. It’s estimated that more than half of all proceeds from the sale of a Powerball ticket stay in the jurisdiction where the ticket was sold.
Source: “Game Sales and Interest Rates to Determine Advertised Powerball Jackpot”. Powerball. April 2, 2020.
Your feedback
Please enter your comment.
Your comment is added.
Comments (1)
Bubles12
04/23/20, 09:04:08 AM
Still a huge amount of cash to be won, even if it is a little disappointing. Jackpots here in the UK with the National lottery are based solely on ticket sales too.
