Courtesy of the Missouri Lottery

Powerball changes to improve odds and prizes, officials say



The Missouri Powerball will be increasing the odds of winning cash prizes and increasing the payouts of each prize, lottery officials say. The average jackpot will increase to $310 million from $174 million. The overall odds of winning some level of prize will improve to 1 in 25 from 1 in 32.

Susan Goedde, communications manager for the lottery, said that the more winners there are in Missouri, the more people will be willing to play. She also noted that 38 cents out of every dollar goes to education in Missouri.

“These changes should increase the jackpot amounts,” she said, “which will also in turn increase sales.”

A 2014 summary of Missouri Lottery operations found that from fiscal year 2013 to fiscal year 2014, the education transfer fell 7.4 percent, to $267.3 million from $288.8 million, despite a 1.5 percent increase in gross revenue. Over the past 10 years, gross revenue has increased 4.5 percent, while the transfer to education has grown 2.5 percent.

Read more from Missourinet

 

Tags: , , ,

Have you heard?

Missouri Business Alert is participating in CoMoGives2019!

Find out how we plan to use your gift to enhance training and programming for our students

Learn more