The Powerball jackpot will continue to grow after no winning tickets were sold in Saturday’s drawing, according to the game’s website. The current jackpot of $1.4 billion will increase to $1.55 billion, making it the third-largest in Powerball history. The last time someone won the Powerball jackpot was in July 2019, when a winning ticket worth $1.08 billion was sold in California. Lottery games have been creating billion-dollar jackpots at a frequency of two or three times a year, but this will be the first time there are back-to-back billion-dollar-plus jackpots.
Economics professor Victor Matheson explains that the snowballing jackpots and fewer winners are intentionally designed by lottery associations to create excitement. Over the years, they have added more balls to drawings, increased the ticket price to $2, and directed more of the purchase money into the main jackpot. Powerball and Mega Millions have transformed from regional lotteries to nationwide phenomena, spreading the chances of winning over a wider population. With 300 million potential buyers across the country, winning becomes extremely challenging.
Pennsylvania Lottery Executive Director Drew Svitko acknowledges the new norm of huge jackpots in Powerball. He attributes the consecutive billion-dollar jackpots to several factors aligning at the right time. This signals that Powerball has become a top-charting jackpot game with significant support and participation.
