AUSTIN (KXAN) — The Powerball lottery jackpot will be cut following the next lucky winner.
As the country has adjusted its normal social and consumer behaviors with the spread of COVID-19, Powerball is adjusting its prize payouts making the next lottery drawings smaller.
Wednesday’s advertised jackpot is a guaranteed $150 million (a $114.8 million cash value). Whenever the next Grand Prize win is claimed, Powerball’s starting jackpot will reset to a guaranteed $20 million (annuity) with minimum roll increases of $2 million between drawings, officials said in a release.
Until the announced change, jackpots started at $40 million with a minimum increase of $10 million per draw.
“Powerball players in many U.S. lottery jurisdictions are under shelter-in-place orders or recommendations from their governors or mayors, which have affected normal consumer behaviors,” said Gregory Mineo, Powerball Product Group Chairman and Maine Lottery Director.
“Just like other enterprises around the world that are making adjustments, we are making proactive changes to continue to offer the world’s premier lottery product.”
If the jackpot is won in Wednesday’s drawing, the jackpot will reset to a guaranteed $20 million (annuity) for the Saturday, March 28 drawing with minimum jackpot roll increases of $2 million between drawings. If the jackpot is not won Wednesday, then the jackpot will grow to an estimated $160 million (annuity), according to the release.