$1.4 billion Powerball prize is a combination of interest rates, sales, math — and luck

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$1.4 billion Powerball prize is a combination of interest rates, sales, math — and luck
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The winner of a Powerball or Mega Millions jackpot can remain anonymous only if they played the lottery in one of 17 states that allow it.

Someone last won the Powerball jackpot in July. The winless streak shouldn’t be a surprise because it shows the game is operating as it was designed.

When someone wins the big prize and the jackpot reverts to about $20 million, sales drop dramatically. Those sales then rise steadily along with the top prize. Of course, people can win when jackpots are relatively small, as the odds never change, but the fewer tickets purchased, the less likely there will be a winner.Plenty of people buy Powerball tickets, but sales are far less than seven or eight years ago, when jackpots began to grow much larger after a change in the game’s odds. Before the jackpot odds worsened in 2015 from 1 in 175.2 million to 1 in 292.2 million, more people won the top prizes, so they didn’t grow so massive.

Some of that reflects that Powerball drawings now are held three times a week, so overall sales are similar, but it still means that the chance someone will hit the jackpot is far less now than several years ago.

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