Powerball Cuts Jackpot Amounts Due To Coronavirus
Due to the evolving COVID-19 pandemic, the Powerball Product Group decided Powerball’s advertised jackpot should be determined by game sales and interest rates.
Following the April 8 drawing, guaranteed starting jackpot amounts and minimum jackpot increases will be eliminated. 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.