RALEIGH, NC (WWAY) — Changes are on the way for the national Powerball game the next time the jackpot is won.
When that happens, Powerball’s jackpot will reset to a guaranteed $20 million, as an annuity, and the jackpot will increase a minimum of $2 million between drawings. Previously, Powerball jackpots reset to $40 million, as an annuity, with minimum increases of $10 million.
The changes are necessary to ensure that ticket sales support the prizes offered in the Powerball game and that it continues to raise money for good causes. In many states, consumers are now following recommendations to shelter in place due to the coronavirus outbreak and some retail locations have closed or have shorter operating hours.
The organization that oversees the Powerball game on behalf of its member lotteries, the Multi-State Lottery Association, approved the changes Wednesday. The changes, allowed under the rules for the Powerball game, go into effect immediately following the next jackpot win.
If there is a jackpot winner in the Saturday, March 28 drawing, then the Powerball jackpot will reset to a guaranteed $20 million for the Wednesday, April 1 drawing. And after that, when the jackpot is not won, the minimum increase will be $2 million.
Saturday’s jackpot is an estimated $160 million as an annuity or $122.4 million as a lump sun.
Powerball tickets remain $2 per play. The odds of winning one of the nine prizes offered in each drawing also remain the same with the odds of winning the jackpot remaining 1 in 292 million. Tickets are sold in 45 states, the District of Columbia, Puerto Rico and the U.S. Virgin Islands. Drawings are held every Wednesday and Saturday at 10:59 p.m.