Guaranteed starting jackpot amounts & minimum jackpot increases to be eliminated
PHOENIX (April 2, 2020) – The Powerball Product Group announced its decision to determine Powerball’s advertised jackpot based on game sales and interest rates. 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. 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. “Our number one priority is making sure that the Powerball game can continue to assist lotteries in raising proceeds for their beneficiaries.”
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 advertised jackpot should be determined by game sales and interest rates effective following the drawing next Wednesday.
“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. “In response to the public health crisis, interest rates have declined. As a result, additional game sales are necessary to fund comparable jackpot amounts.”
The advertised Powerball jackpot for Saturday’s drawing is a guaranteed $180 million. If the jackpot rolls, it will grow to a guaranteed $190 million for the April 8 drawing. If the jackpot is won on Saturday night, it will reset to a guaranteed $20 million for the April 8 drawing and continue to grow based off sales and interest rates.
Additionally, Arizona Lottery is making accommodations for players who wish to follow Government social distancing guidelines to prevent or slow the spread of the virus. These include:
- Closing our buildings to the public and initiating by-appointment service for players wishing to redeem their winning tickets at our Phoenix and Tucson offices.
- Installing 24-hour drop boxes at both our Phoenix and Tucson offices for players to submit their claim forms and winning tickets for payment.
- Our option to mail-in winning tickets remains unchanged.
“Making Arizonans winners is exciting, but nothing is more important to us than the health and safety of our players, retailers and employees,” Executive Director of the Arizona Lottery Gregg Edgar said. “So we are taking steps that we feel will make a real difference and instill confidence in our players so we can continue to support our beneficiaries, while offering the best play and winning experience available in Arizona.”