If the jackpot rolls, it will grow to a guaranteed $190 million for the April 8 drawing. The advertised Powerball jackpot for Saturday’s drawing is a guaranteed $180 million. As a result, additional game sales are necessary to fund comparable jackpot amounts.” “In response to the public health crisis, interest rates have declined. “ 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. 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.
Those changes were scheduled to go into effect after the current jackpot was won. 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.
“Our number one priority is making sure that the Powerball game can continue to assist lotteries in raising proceeds for their beneficiaries.” “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. Previously, Powerball® jackpots started at $40 million (annuity) and increased by a minimum of $10 million (annuity) between drawings. Following the April 8 drawing, guaranteed starting jackpot amounts and minimum jackpot increases will be eliminated, and future jackpot increases will be determined and announced by the Product Group prior to each drawing. The Powerball Product Group today announced its decision to determine Powerball’s advertised jackpot based on game sales and interest rates. Guaranteed starting jackpot amounts & minimum jackpot increases to be eliminated Update: Game sales and interest rates to determine advertised Powerball jackpot
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