• Home
  • Latest
  • Fortune 500
  • Finance
  • Tech
  • Leadership
  • Lifestyle
  • Rankings
  • Multimedia

Trendingnow

1

The $40 trillion national debt is growing while Social Security goes broke—because wealthy Boomers are collecting over $100k in benefits per year

2

Welcome to the 'upper-middle-class trap': why $300,000 a year doesn't feel like winning anymore

3

'You only get like two hours of alcohol or two hours of cigarettes a day': Former Meta engineer on child safety settlement

1

The $40 trillion national debt is growing while Social Security goes broke—because wealthy Boomers are collecting over $100k in benefits per year

2

Welcome to the 'upper-middle-class trap': why $300,000 a year doesn't feel like winning anymore

3

'You only get like two hours of alcohol or two hours of cigarettes a day': Former Meta engineer on child safety settlement
FinancePowerball

Why Winning the Powerball Jackpot Is Way Harder Than It Used to Be

By
Natasha Bach
Natasha Bach
Down Arrow Button Icon
By
Natasha Bach
Natasha Bach
Down Arrow Button Icon
August 23, 2017, 7:15 AM ET
Add Fortune on Google for similar content.

Powerball’s jackpot is currently the second-largest in history at $700 million, following more than two months of no jackpot wins in the twice-a-week drawings.

And while the odds have always been against the player, recent changes have made it even less likely that you will be the next big winner.

Read: Where the Money From the $1.5 billion Powerball Lottery Goes

According to the Washington Post, the odds are now at 1 in 292 million, as compared to 1 in 175 million two years ago. This is due to a 2015 change that increased the total number of balls from 59 to 69.

In Powerball, each player needs to choose five numbers. With the odds of picking the right numbers lower than before, it is less likely that Powerball will be making big payouts—meaning that the total jackpot grows. Media coverage that fuels the excitement and “jackpot chasers” who join when the payout skyrockets help the amount climb even higher.

Read: Why So Many Lottery Winners Go Broke

But lottery players’ loss is a gain for states. The Associated Press reports that the North American Association of State and Provincial Lotteries found that 2016 lottery ticket sales, which benefit states, totaled more than $80 billion. Revenue has increased year-on-year since 2014.

[tempo-video id=”4698700764001″ account_id=”2111767321001″ autoplay=true]

The changes in rules have created a feedback loop in which fewer payouts leads to bigger jackpots and more excitement, which in turn encourage more people to try their hand at the lottery. With so few big winners though, more money ends up in the pockets of the state—not necessarily in the pocket of the player.

About the Author
By Natasha Bach
See full bioRight Arrow Button Icon
Add Fortune on Google for similar content.

Latest in Finance


Most Popular

Fortune Secondary Logo
Rankings
  • 100 Best Companies
  • Fortune 500
  • Global 500
  • Fortune 500 Europe
  • Most Powerful Women
  • World's Most Admired Companies
  • See All Rankings
  • Lists Calendar
Sections
  • Finance
  • Fortune Crypto
  • Features
  • Leadership
  • Health
  • Commentary
  • Success
  • Retail
  • Mpw
  • Tech
  • Lifestyle
  • CEO Initiative
  • Asia
  • Politics
  • Conferences
  • Europe
  • Newsletters
  • Personal Finance
  • Environment
  • Magazine
  • Education
Customer Support
  • Frequently Asked Questions
  • Customer Service Portal
  • Privacy Policy
  • Terms Of Use
  • Single Issues For Purchase
  • International Print
Commercial Services
  • Advertising
  • Fortune Brand Studio
  • Fortune Analytics
  • Fortune Conferences
  • Business Development
  • Group Subscriptions
About Us
  • About Us
  • Press Center
  • Work At Fortune
  • Terms And Conditions
  • Site Map
  • About Us
  • Press Center
  • Work At Fortune
  • Terms And Conditions
  • Site Map
  • Facebook icon
  • Twitter icon
  • LinkedIn icon
  • Instagram icon
  • TikTok icon
  • YouTube icon

    Latest in Finance


    Most Popular

    © 2026 Fortune Media IP Limited. All Rights Reserved. Use of this site constitutes acceptance of our Terms of Use and Privacy Policy | CA Notice at Collection and Privacy Notice | Do Not Sell/Share My Personal Information
    FORTUNE is a trademark of Fortune Media IP Limited, registered in the U.S. and other countries. FORTUNE may receive compensation for some links to products and services on this website. Offers may be subject to change without notice.