Guaranteed starting jackpot amounts, minimum jackpot increase eliminated
Per the national Powerball® Product Group of the Multi State Lottery Association, the game will change following the April 8, 2020 drawing. The Powerball Product Group stated that the advertised jackpot amounts will now be based on game sales and interest rates, and guaranteed jackpot amounts and minimum jackpot increases will be eliminated.
Read more from the national notice here.
“All future jackpot increases will be determined by the national product group prior to each drawing. We understand these changes are due to current circumstances, so we are rolling with these changes along with the many other changes we are all experiencing together. These are trying times, but we are optimistic that we will come out of this stronger than ever as a state and country,” said Jon Clontz, WyoLotto CEO.
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 rolls, 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.
“We hope our players, retailers, and the rest of our Wyoming family are staying home, and being safe per national, state and local guidelines. Following those guidelines will allow us to look forward to the future, offer optimism, and continue to give players a chance to win millions,” Clontz said.
Powerball is sold at more than 440 retailers throughout the state of Wyoming. More than half of all proceeds from the sale of a Powerball ticket remains in the jurisdiction where the ticket was sold.
For more information on winning numbers available from WyoLotto or to receive player updates and notifications about Cowboy Draw®, Powerball, Mega Millions® and Lucky For Life®, visit wyolotto.com/signup.