Bigger, better, more say the folks at Powerball when announcing the price of a ticket is going on from $1 to $2 beginning Jan. 15.
For players, the price increase translates into a new set of odds and a new group of prizes.
Old Powerball’s overall odds of winning were 1 in 35.1. New Powerball is 1 in 31.8.
The $1 ticket added up to a starting jackpot of $20 million. That will double when the $2 tickets go on sale.
Powerplay will still be $1.
Powerball was started April of 1992 with 15 states. South Carolina joined in 2002. Now the game is played in 44 states.
The reason for the price increase? Players want to win more money, said Alan Yandow, Vermont Lottery executive director and Powerball group chair.
“Frequently we hear from players suggesting that in addition to Powerball’s big jackpots, we give away more $1 million cash prizes,” he said.
To date the game has hauled in $33 billion. Half goes to prizes and between 25 and 35 percent go to programs such as the LIFE scholarships in South Carolina. Retailers get 6 percent of the sales.