Is the Megabucks or Powerball jackpot paid as a fixed percentage of the prize pool or is it paid based on what is left after all lower-tier prizes are paid?
The Megabucks and Powerball jackpots are both awarded on a pari-mutuel basis, which means that the jackpot is split evenly among all winners. Lower prizes are awarded on a set basis, based on a statistical model of how many people are likely to win each of the lower-level prizes in any given drawing. When you purchase a Megabucks or Powerball ticket, part of your dollar goes to the jackpot for that game and part of it goes to the lower-tier prize pool (all prize levels below the jackpot) for that game. We keep a cash reserve on hand for those instances when the number of lower-tier prizewinners exceeds statistical probability.
Related Questions
- Is the Megabucks Plus!, Hot Lotto or Powerball jackpot paid as a fixed percentage of the prize pool or is it paid based on what is left after all lower-tier prizes are paid?
- Is the Megabucks Plus! or Powerball jackpot paid as a fixed percentage of the prize pool or is it paid based on what is left after all lower-tier prizes are paid?
- Is the Megabucks or Powerball jackpot paid as a fixed percentage of the prize pool or is it paid based on what is left after all lower-tier prizes are paid?
