Powerball enthusiasts will have to wait a little longer for a lucky winner as Saturday’s drawing failed to produce any winning tickets, as reported by the game’s official website. The already massive $1.4 billion jackpot will now roll over, reaching an astonishing $1.55 billion, cementing its place as the third-largest jackpot in Powerball’s history. The second-largest jackpot reached $1.586 billion in 2016.
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The last Powerball jackpot
was won after the July 19 drawing, where a lucky ticket holder in California claimed the $1.08 billion prize. What’s noteworthy is that the current sequence of back-to-back billion-dollar-plus jackpots is unprecedented in Powerball’s history.
Economist Victor Matheson, from the College of the Holy Cross, explains that the snowballing jackpots and fewer winners are intentional. Over the years, organizers have made strategic changes, including adding more balls to the drawings, doubling the ticket price to $2, and directing more purchase money towards the jackpot. These adjustments aim to create thrilling billion-dollar lotteries.
Moreover, Powerball and Mega Millions have evolved from regional lotteries into national phenomena, with millions of potential buyers across the country. This nationwide reach makes it exceedingly challenging to secure a jackpot win, contributing to the massive jackpots that capture the public’s imagination.
In a statement, Pennsylvania Lottery Executive Director Drew Svitko acknowledged the trend of billion-dollar Powerball jackpots, emphasizing the factors that have led to back-to-back historic jackpot events.
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