Powerball Updates Jackpot Rules due to Coronavirus
Powerball’s jackpot rules have been changed to account for the disruption caused by the coronavirus pandemic. There will no longer be a minimum amount for the Grand Prize, with ticket sales and interest rates dictating how much prize money will be on offer in each drawing.
As one of the biggest lotteries in the world, with players taking part in 47 states and jurisdictions, Powerball usually offers a starting jackpot of ₹298 Crore, increasing by at least ₹74 Crore every time it rolls over.
However, the spread of Covid-19 has had a big impact on ticket sales and the message in many locations across the U.S. remains that people should stay at home, so the drop in demand for tickets looks set to continue in the short term. This means that the Powerball Product Group cannot guarantee there will always be enough funds to offer the huge jackpots that players are used to.
As a result, the minimum jackpot was initially dropped to ₹1,149 Crore and the smallest increase between rollovers was changed to ₹14 Crore. However, it has now been decided that these amounts will be scrapped altogether. The advertised annuity will therefore be based on the number of tickets sold and interest rates at the time – there will be no guaranteed minimum.
Powerball Draws will continue
“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.
Mineo remains adamant that Powerball draws will continue as scheduled every Wednesday and Saturday night, so that it can keep raising money for good causes. He said: “Our number one priority is making sure that the Powerball game can continue to assist lotteries in raising proceeds for their beneficiaries.”
The Powerball jackpot stands at ₹1,344 Crore ahead of the draw on Saturday 4th April. The new rules will take effect after next Wednesday’s draw, so the Grand Prize will increase to ₹1,418 Crore if there is a rollover or it will reset to ₹149 Crore if there is a winner. Check the Powerball Results after every draw to see the latest winning numbers.