Changes to Powerball
January 15, 2012
The Powerball authority writes on their website about the changes being implemented to the game today. In part:
How is Powerball Changing?
On January 15, 2012,
Powerball will undergo major changes to produce bigger jackpots, better odds of
winning and more millionaires. The cost of a ticket will increase to $2. Here
are the key changes:
• Starting jackpot doubles from $20 million
to $40 million.
• Jackpots increase by a minimum of $10
million with each roll.
• Odds of winning the jackpot will improve
from 1 in 195.2 million
to 1 in 175.2 million.
• Overall odds of winning will improve from
1 in 35 to 1 in 32.
• Match-5 prize will increase from $200,000
to $1 million.
• The Powerball-only prize will increase
from $3 to $4.
Is the New Powerball Played the Same?
The basic play style is the same; however, the number of red Powerball numbers is being reduced by four. (The number of white ball numbers remains the same.) So, players will select five white ball numbers from a field of 59 and one red Powerball number from a field of 35.
Will Power Play Still Be Available?
Yes, but Power Play prizes become set prizes, no longer dependent upon a multiplier. These set prizes are at least double the original Powerball prize and range from $12 for matching just the Powerball number to $2 million for matching all five white ball numbers. The cost is still an additional $1 per play.
The Issue
The issue is: Are better odds to the tune of 175 million to 1 versus 195 million to 1 worth the doubling of the price? It certainly doesn't seem so. There are no changes to the odds of winning the 2nd prize Match-5 but the prize has been increased from a set $200,000 to $1 million.
Powerball has done just the opposite of previous discussions we have had where we opined that the Multistate Lotteries should make the games easier to win and create a lot of millionaires, instead of awarding Gi-normous prizes to one person (or to the people who share the prize).
It appears that Powerball and the state lottery commissions that are a part of it are still addicted to the Big Jackpots that draw a lot of players for one day. Our position is that you should play on "Your Lucky Times" -- no matter what the jackpot is. Altering the game so that the jackpots get even larger does not help the individual player to win more. We just bet more money.
It remains to be seen how the playing public will react to these changes to the the Powerball game.
Yours in Good Fortune,
Lucky Star
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