The Powerball Product Group of the Multi-State Lottery Association (MUSL), of which the Mississippi Lottery Corporation (MLC) is a voting member, announced the decision to determine Powerball’s advertised jackpot based on game sales and interest rates following the April 8, 2020 drawing.
After the April 8 drawing, Powerball will no longer offer guaranteed starting jackpot amounts and minimum jackpot increases.
The advertised Powerball jackpot for the Saturday, April 4, drawing is a guaranteed $180 million. If the jackpot rolls, it will grow to $190 million for the April 8 drawing. Following the April 8 drawing, if the jackpot rolls, the new jackpot amount increase will be determined by sales and interest rates. If the jackpot is won, the next starting jackpot and all subsequent rollover amounts will also be determined by sales and interest rates.
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 starting jackpot amounts and rollover increases will be determined by game sales and interest rates effective following the drawing Wednesday, April 8.
“Since last week, several more states and cities have encouraged people to stay at home and only venture out for day-to-day necessities,” said MLC President Tom Shaheen. “As a result, the demand for Powerball tickets, along with numerous other products and services, have experienced declines. At these difficult times, what is most important is the safety and health of Mississippians.”
Powerball tickets are $2 per play. Tickets are sold in 45 states, the District of Columbia, Puerto Rico and the U.S. Virgin Islands. Drawings are broadcast live every Wednesday and Saturday at 10:59 p.m. ET from the Florida Lottery draw studio in Tallahassee. More than half of all proceeds from the sale of a Powerball ticket remain in the jurisdiction where the ticket was sold.
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