Powerball Odds Set to Change in October 2015

Jul 16, 15 Powerball Odds Set to Change in October 2015

There are a lot of rumors circling about the upcoming changes to the Powerball lottery this year. For all you lottery players who are concerned or confused, worry not! We have the inside scoop on the three major changes going into effect October 4, and there’s more reason to be excited than to worry.

 

Trading Lower Odds For Higher Jackpots

Yes – the scary rumor is true: the odds of winning the Powerball jackpot will decrease with the upcoming change. However, the reason for the decrease in odds is to allow the jackpot to get a whole lot bigger before it’s won. The highest Powerball jackpot to date was $590.5 million in 2013. With the upcoming changes, we can expect bigger jackpots more often, maybe even prizes worth more than a billion dollars! So, while the odds of winning the jackpot will decrease from 1 in 175 million to 1 in 292 million, the likelihood of a future player becoming a billionaire could be almost 8 times higher! This change could make billionaires out of Powerball winners, taking the notion of “winning big” to a whole new level.

 

Get More of Less

While the odds of winning the Powerball jackpot will decrease, the odds of winning smaller prizes will actually increase! Maybe you won’t hit the jackpot, but you could win something! In a memo to its board members, the New York state Gaming Commission precisely stated that “the rules change is intended to increase the odds of winning any prize, while making it more difficult to win the jackpot prize.” In fact, more of the money from ticket sales will be paid out as smaller prizes, while the percentage of money that goes to the jackpot will decrease slightly from 68% to 64%.

 

Number Sets and Prize Levels

The final change you will notice in October is the difference in number sets and third-level prize amounts. The new rules will increase the size of the first set of numbers from 59 to 69. It will also decrease the size of the second set of numbers from 35 to 26. However, the biggest change you’ll notice is a $40,000 jump in the third-level prize amount! The third-level prize will rocket from $10,000 to $50,000. Not a bad prize pot if you ask us!

These changes will go into effect on October 4 in time for the Powerball drawing on October 7. Can you imagine a lottery with ample chances to win and soaring billion-dollar jackpots? Get ready for it, because a fresh new Powerball game is coming your way this year!

 

Written by LotteryHUB News Staff Writers

The LotteryHUB News team collaborated to provide this article for our readers. As always, good luck with your next bet! We’re always here to keep you on top of your game.

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