The Powerball jackpot surged to $1.3 billion on Monday night after no one matched the winning numbers.
This means ticket sales will likely spike as people gear up for the next draw on Wednesday. The allure of those massive lottery payouts just keeps drawing folks in.
This is pretty much what lottery officials had in mind when they adjusted the game’s odds about a decade ago. By making it harder to win, they extended the time between jackpot payouts.
In 2015, Powerball saw a significant rule change after lower sales numbers; the total pool of balls went from 59 to 69, while the final pool of Powerball picks was cut from 35 down to 26.
As a result, winning smaller prizes has become more achievable, but your odds of snagging the grand prize now stand at a staggering 1 in 292.2 million.
Why has the prize pool expanded?
Before these adjustments, the chances were 1 in 175.2 million for winning the lottery, while 1 in 31 could expect to win any prize.
This shift made smaller prizes more frequent, making the game more appealing to a broader audience.
Interestingly, the tweak reduced the likelihood of hitting those massive jackpots but attracted a lot of players drawn to the ballooning grand prizes over time.
Since these changes, Powerball has seen five jackpots exceed $1 billion, a stark contrast to the previous record of $590 million.
Mega Millions, another big lottery game, also revamped its rules, boasting seven drawings over the $1 billion mark.
Powerball is getting more attention lately, especially since Mega Millions raised its ticket prices from $2 to $5 back in April.
In comparison, Powerball tickets remain just $2 each. (Though, in Idaho and Montana, they cost $3.)
What are your actual odds of winning?
To put it bluntly, your chances are incredibly slim. For example, it’s more likely you’d flip a coin and get heads 28 times in a row than win this lottery.
In fact, an individual is far more likely to get struck by lightning twice, be eaten by a shark, die in an airplane crash, or even become president.
Lottery expert Tim Chaltier tried illustrating just how unlikely it is to win. He commented, “If I choose one second for the last 9.2 years,” which shows, well, the odds are pretty stiff.
How can you improve your odds?
Buying more tickets could increase your odds, but even purchasing 100 tickets might not be enough to really change your chances.
Chaltier noted that if it’s over two years, it’s a bit of a gamble even with 100 tickets. Interestingly, choosing random numbers might be a smart strategy. This helps reduce the chance of having to share the prize if you do hit the jackpot.
He also suggested avoiding previously selected numbers from the prize pool, such as those drawn on Monday.
“Remember, numbers are chosen randomly, so any five are as likely as the other,” he remarked.
When is the next Powerball drawing?
The next drawing is set for Wednesday, September 3rd, at 11 PM.
Players can tune in to watch the drawing live at Powerball.com.
