The Powerball Product Group today announced its decision to further modify the rules for determining each successive Powerball jackpot roll, and set a firm implementation date rather than waiting for the next jackpot winner.
Today's changes are in addition to the modifications announced just last week.
The new Powerball rules for determining the advertised jackpot will be based strictly on game sales and interest rates, completely eliminating guaranteed starting jackpot amounts and minimum jackpot increases.
Following the April 8 drawing, jackpot increases will be determined and announced by the Product Group prior to each drawing. Previously, Powerball jackpots started at $40 million (annuity) and increased by a minimum of $10 million (annuity) between drawings.
"These changes are necessary to ensure that ticket sales can support the Powerball jackpot and other lower-tier cash prizes," said Gregg Mineo, Powerball Product Group Chairman and Maine Lottery Director. "Our number one priority is making sure that the Powerball game can continue to assist lotteries in raising proceeds for their beneficiaries."
The Powerball Product Group announced plans last week to reduce the starting jackpot to $20 million (annuity) and minimum jackpot increases to $2 million (annuity) between drawings. Those changes were scheduled to go into effect after the current jackpot was won. However, due to the evolving COVID-19 pandemic, the Powerball Product Group revisited the topic and decided Powerball's advertised jackpot should be determined by game sales and interest rates effective following the drawing next Wednesday.
"Since last week, more states and cities have asked their residents to stay at home, which has affected normal consumer behaviors and Powerball game sales," said Mineo. "In response to the public health crisis, interest rates have declined. As a result, additional game sales are necessary to fund comparable jackpot amounts."
The advertised Powerball jackpot for Saturday's drawing is a guaranteed $180 million. If the jackpot is not won, it will grow to a guaranteed $190 million for the April 8 drawing. If the jackpot is won on Saturday night, it will reset to a guaranteed $20 million for the April 8 drawing and continue to grow based off sales and interest rates. At that point, future jackpot resets will have no minimum amount.
Powerball tickets are $2 per play. Tickets are sold in 45 states, the District of Columbia, Puerto Rico and the U.S. Virgin Islands. (The Puerto Rico Lottery is currently shut down due to the coronavirus outbreak.) Drawings are broadcast live every Wednesday and Saturday at 10:59 p.m. ET from the Florida Lottery draw studio in Tallahassee. More than half of all proceeds from the sale of a Powerball ticket remain in the jurisdiction where the ticket was sold.
All Powerball drawings, including official drawing video, detailed breakdown of prizes, and exclusive Jackpot Analysis, are available at USA Mega (www.usamega.com), a website devoted to the United States's two biggest multi-state lottery games, Powerball and Mega Millions.
With many lottery retailers shuttered due to the coronavirus, players trying to locate an alternate retailer can use the free Lottery Places app to find all the retailers near them, as well as retailers near any address they enter.
Auf Wiedersehen Powerball with treating loyal players like this. My point is it is not like there is a grand jackpot every drawing. Next thing you know MUSL will put Mega Millions of the chopping block too. Personally would be happier if both just went to one drawing each/week. Lottery fatigue 101.
I like your idea of one drawing per week. I would love to see the matrix lowered, thereby lowering odds and dropping to $1 per draw. They once had a good thing but just had to keep messing with it.
We need to believe we can win in order to buy plays, not just want to win. Perhaps they're missing that big point.
I have a really radical idea.
What if they took a percentage of sales revenue and set it aside and called that money the jackpot prize pool. When somebody matches all of the number to win (a share of) the jackpot the prize would be based on the cash that's in the jackpot prize pool. They could call that cash value a "jackpot".
LOL Powerball. The biggest problem besides the odds is the $2 ticket price.
We have two dueling jackpots competing for limited dollars. Four nights a week. I'm afraid one either PB or MM will not make it if COVID-19 conditions persist. That may be the new normal.
The Governor of Louisiana just announced a mandatory stay in your home until April 30th. So, on May 1st, I don't think everything will be okay, as originally projected by many businesses, & casinos for reopening.
The more I think about it, this means the Powerball jackpot is basically parimutuel, and the minimum jackpot can change at any moment. When the isolation / seclusion to save lives ends, I still don't anticipate I'll be playing the Powerball, or Mega Millions like I once did. Probably just Pick 3, & Pick 4. I anticipate the end of May, but I expect into June, before I'd feel safe venturing out like I normally did to even attempt returning to a normal life. It's too deadly at the moment.
Definitely sounds like a plan ah yes when greed overshadows their thinking. When the state lotteries follow suit they'll have no choice but to rethink how to get the money. I was good on paying a $1 once it went up to $2 I stopped but that's just me.
No no no they have it all wrong. They need to increase the payouts for pick 3 and pick 4 to attract more players. Ha
Sounds good to me.
Who would like to take a bet that there will be a winner for the $180 million on Sat. April 4th?
I would even go as far as to say that the winning ticket will be sold in either Florida, New York or California. The house always win folks! All the more reasons to stick with the tried and true....Pick 3s and Pick 4s for me....all day...everyday! Lol.
Almost all of the United States is not playing the lottery at the moment. I think it will roll until June, or July.
When Powerball made these changes adding more numbers (69) and shortening the powerball numbers (26) they made them on the premise that the jackpot goes higher and higher biggest jackpots back in (2016) and beyond.
Also if they do lower the size of the jackpot, that means they should change the numbers to a much shorter set like before and possibly even go back tp a $1 a wage. Because greed and increasing their coffers will not work usually anytime they ordinarily do a change but given the times we are in, it's higy unlikely they will get a good response from players and be in a lot of trouble down the road when it comes to sales. Mega Millions would likely follow.
So Todd and anyone should be able to float the idea that the odds are bad (should be better) and numbers shorter and wage lower.
That's the only way. In other words, go back to the basics!! They lottery commiisions should be told the phrase it's the economy stupid!! Must adapt and while there at it change the odds. All or nothing at all. They need people and states and complaints and a consortium to at the very least change their ways.
Later on they'll say they're starved of cash, well so is everyone else!! 💸
There was a time when the lottery was a chance to win big and change your life. These over the top games like Power ball are just not that
attract to play anymore. The odds are so out there and the price of $2.00 a wager is not going to attract players anymore. Only those die hard
players will continue to fork a few bucks on these games. They need to make it more interesting if they hope to attract more players and more revenue. The Pick 3,4 & 5 games are more realistic for the average person to hit. People have less disposable income now more than ever.
and still $2 per play
SMH