|Posted: March 29, 2009, 1:34 am - IP Logged|
I got this off USAmega.
I heard there is a limit on the jackpot size. Is that true?
While there is technically no limit on the size to which the Powerball jackpot can grow, there is a "slow-down mechanism" that kicks in when the jackpot reaches record heights. We don't know why the Multi-State Lottery Association decided to implement it, but we'll explain how it works.
Whenever the Powerball jackpot reaches a record level, the amount of the jackpot prize is limited to increases for each draw of no more than $25 million. Once this "slow-down" is in effect, any prize money collected in excess of the maximum $25 million increase is placed into something called the Match 5 Bonus prize pool, and will accumulate until there is a jackpot winner. When there is a jackpot winner, the Match 5 Bonus prize pool will be divided equally among all players who match the first 5 numbers, but not the Powerball (5+0). The prize is paid in cash.
The Match 5 Bonus prize is in addition to any Power Play prizes that may be won. The Match 5 Bonus prize is not multiplied. A Match 5 winner who also played the Power Play option will win the original $200,000, plus the amount paid under the Power Play multiplier option, plus the new Match 5 Bonus effective bonus prize.
If nobody hits the jackpot while the "slow-down" is in effect, 5+0 winners get the normal 5+0 prize, plus Power Play winnings if they purchased that option. All of the Match 5 Bonus money rolls into the next drawing.
Although it is unlikely, it is possible that no Match 5 winner will exist for a drawing where the jackpot is won and in where a Match 5 Bonus Prize pools exists. In this case, the Match 5 Bonus prize pool will be paid out to the Match 4+1 winners.
Don't Chase... Compare and Narrow
The Cheaper the Cost the Higher the Profit
Many Winners to You.