Why It Is So Damn Difficult To Win A Powerball Jack Pot


Powerball//embedr.flickr.com/assets/client-code.js

In October, the states that run the Powerball  lottery approved a series of rule changes that made it much harder for participants to win the jackpot.

Under the new rules, players are allowed to select five of 69 numbers per play, up from five out of 59 numbers. Moreover, the choices for the Powerball was actually reduced from 35 to 26.

This decreased the odds of winning the jackpot from 1 in 175 million to 1 in 292 million.

The reason this change was to increase the chances that there would be no grand prize winner for any given drawing. When there is no grand prize winner, the prize pool rolls over creating giant jackpots.

At the time the rule changes were first floated in July, FiveThirtyEight estimated that the chances of a $1 billion prize pool increased from 8.5% to 63.4% over a given five-year period. At the same time, the decreased number of choices for the individual Powerball made winning small $4 prizes more likely.

“The rules change is intended to increase the odds of winning any prize, while making it more difficult to win the jackpot prize,” the New York State Gaming Commission wrote in a memo supporting the change.

And sure enough, some 6 months later in early 2016, the first billion dollar lottery jackpot in history came to fruition. Read much on the big money game and how it may not be the darling it appears to be in everyone’s dreams @  Powerball’s $1.3 Billion Swindle Of Americans | ThinkProgress.

Advertisements

Author: Geo Gee

I'm a curious one that finds politics, social issues, and diverse progressive solutions interesting. I believe information and education are the most powerful weapons one can arm himself with. Those two dynamics alone open the doors to opportunities. I also subscribe to each one teach one for a better world for all.

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s