More from Year-End Planning

Here’s a look at more coverage on what to do finance-wise as the end of the year approaches:

One reason for more frequent large Powerball jackpots is a 2015 change to the game’s matrix, according to J. Bret Toyne, executive director of the Multi-State Lottery Association, which runs Powerball. 

Powerball players must correctly choose all six numbers to win the grand prize — five white balls and one red ball for the jackpot.

In 2015, Powerball added more numbers for the white and red balls, which decreased the chance of hitting the jackpot. Currently, there is roughly a 1 in 292 million chance of winning the grand prize, compared to the previous odds of about 1 in 175 million, Toyne said.

IRS will tax more on resold tickets according to new law

Plus, the game added a Monday drawing in 2021, he said. Without a jackpot winner, the estimated grand prize keeps rolling over until a player chooses all six numbers.

Higher interest rates have boosted jackpots

Post source: cnbc

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