Jackpots at risk as pandemic cuts into sales

Hoping to escape all the coronavirus-caused economic uncertainty by winning a giant lottery jackpot?

Think again. Those jackpots are going to shrink as the pandemic tamps down lottery sales.

The group that oversees the Powerball game announced Wednesday night it would cut minimum jackpots in half, from $40 million to $20 million, after there is a winner of the current big prize. The jackpot also could grow more slowly, with minimum increases of $2 million instead of the normal $10 million after each twice-weekly drawing.

“Powerball players in many U.S. lottery jurisdictions are under shelter-in-place orders or recommendations from their governors or mayors, which have affected normal consumer behaviors,” said Gregory Mineo, the director of the Maine lottery and chairman of the Powerball Product Group. “Just like other enterprises around the world, we are making proactive changes to continue to offer the world’s premier lottery product.”

The other national lottery game in the United States, Mega Millions, is considering a similar move.

“The Mega Millions Consortium has begun internal discussions about potential changes to address the slowdown in sales during the current health crisis,” said Gordon Medenica, who heads the Maryland lottery and is director of the national game.

Medenica notes, however, that Mega Millions has a minimum increase of $5 million after each drawing so is in better position to weather the decreased sales.