Powerball Adding Number to Lower Odds of Winning
If your retirement plan involves you winning one of those giant Powerball jackpots, we have bad news for you: Now you'll probably have to work forever!
The lottery commissioners who run the Powerball lottery just approved a plan that will make it harder to win one of those giant jackpots. They are planning on reducing odds of winning from one in 175 million to one in 292 million.
How are they doing this you ask? Well, they are adding 10 more numbered balls to the mix. So now instead of picking five numbers between one and 59, the range is one and 69.
Plus you will still have to pick your sixth number as the special Powerball. That used to be between one and 35, now it's going to be between one and 26.
The result of those changes is that their will be bigger jackpots that will have much worse odds and fewer people will actually win one. But a lot more people will get smaller prizes like $4 for just getting the Powerball number correct.
Not surprisingly, both of those changes are designed to make us gamble more. Those huge jackpots will get more people buying tickets, yet having worse odds equals more enormous grand prizes. Can't wait for the first $1 Billion dollar drawing to see how crazy people get!!
And when you get a little win like $4, you usually just use it to buy more tickets. The new Powerball changes take effect as of October 7th.