Powerball Starting Jackpots and Minimum Rollovers to be Eliminated
Further to recent changes to the game, the Powerball Product Group has now announced that there will no longer be a guaranteed minimum jackpot or rollover amount. The updated prize rules will take effect from April 8.
It was announced last week that the minimum Powerball jackpot would change from $40 million to $20 million and the minimum rollover amount would be reduced from $10 million to $2 million. The Powerball Product Group, the consortium of state lotteries that offers Powerball, has now gone a step further and announced that the minimum jackpot and rollover amount will be dispensed with.
In a press release, Powerball Product Group Chairman and Maine Lottery Director Gregg Mineo said: “These changes are necessary to ensure that ticket sales can support the Powerball jackpot 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.”
Instead of the minimum amounts, the starting jackpot and rollover amount will be based on game sales and interest rates. The Powerball Product Group will announce the value of the jackpot prior to each draw.
“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,” Mineo said. “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 current jackpot is worth $180 million ahead of Saturday night’s drawing. If it rolls over again, it will be worth $190 million for the game on Wednesday April 8, before the new jackpot rules come in. If there is a winner on Saturday, the top prize will drop to $20 million for Wednesday night and will then grow based on ticket sales and interest rates.
Page Last Updated: 03/04/2020 10:24:00