Sunday, July 7, 2002
11:40 PM ET - Powerball to undergo changes starting October 6, 2002. Beginning October 6, Powerball will undergo several changes, in order to grow jackpot sizes, account for a larger player base as new states are added, and to more effectively compete with rival multi-state lottery Big Game Mega Millions. Powerball's twenty-two states, plus the District of Columbia, will make the following changes:
The number pool will increase - players will choose five numbers from 1 to 53 (instead of the current 1 to 49), plus one number from 1 to 42 (unchanged).
Annuity period increased - The current 24-year annuity period (25 payments) will be increased to 29 years (30 payments), which will have the effect of increasing the annuity jackpot, while making payments to a jackpot winner less each year than they would be under the current annuity structure.
Unclaimed grand prize and new bonus prize funds will be distributed among all participating lotteries in proportion to each lottery's sales for the grand-prize drawing.
The power play option will have a multiplier ranging from 2 to 5 (instead of the current 1 to 5).
All power-play prizes will be paid in single, lump-sum payments.
Jackpot prize increases will be limited to $25 million between drawings. For example, if there is no winner of a $50 million drawing, the next drawing will not be higher than $75 million. A new bonus prize will be accumulated consisting of all money collected in excess of the advertised jackpot amount until there is a grand-prize winner.
from Big Game Lottery Results and News, haven't seen this on the Powerball page yet.
