The Mega Millions Consortium and Powerball Product Group have announced changes to starting jackpots and minimum jackpot increases for the Mega Millions and Powerball games. These changes were not made by an individual lottery. You can learn more about the Mega Millions changes here, and the Powerball changes here. Answers to frequently asked questions are below.
WHAT CHANGES ARE HAPPENING TO MEGA MILLIONS AND POWERBALL?
Mega Millions and Powerball starting jackpots and the rate at which the jackpots increase will be established based on game sales and interest rates, with no fixed minimum amount. These will be determined and announced prior to each drawing. Previously, the Mega Millions jackpot started at $40 million, and the minimum increase was $5 million between drawings; Powerball jackpots started at $40 million and increased by a minimum of $10 million between drawings.
WHY DOES THIS NEED TO HAPPEN?
Game sales and interest rates are the two main factors in the determination of Mega Millions and Powerball advertised jackpots. Many states and cities have asked their residents to stay at home, which has affected normal consumer behaviors and Lottery game sales. In response to the public health crisis, interest rates have declined. As a result, more game sales are necessary to fund comparable jackpot amounts. The changes were made to ensure that ticket sales can support the Mega Millions and Powerball jackpots and other lower-tier cash prizes.
ARE THESE CHANGES PERMANENT?
The Mega Millions Consortium and Powerball Product Group will determine how long the changes will last for each game.
ARE THERE PLANS TO CHANGE THE $2 TICKET PRICE, PRIZE STRUCTURE, OR GAME ODDS?
No. The elimination of minimum jackpot increases and guaranteed starting jackpot amount will not alter either game's $2 ticket price, set cash prizes, or game odds.