New Mexico Raises Odds to Win Powerball Jackpot, Lowers Odds for Smaller Winnings
The improbable odds of hitting the jackpot just got harder in the state of New Mexico. In a move that’s elicited mixed reactions, lottery officials in the state have announced earlier this week that the odds of winning the Powerball jackpot have gone up by over one in a million, according to the Albuquerque news station KRQE.com.
The exact ratio of hitting it big will now be one in 292 million, up from one in 175 million.
On the other hand though, the odds of winning something in the lottery overall have improved. They increased the chance of winning a smaller cash prize so now you have a one in 25 shot, up from one in 32, of scoring a win of some kind on the lotto.
The main reason for the shake-up was a recent decline in Powerball sales in the state. In 2015 the sale of Powerball tickets fell by about 18% in New Mexico, while instant win scratch off games have increased in popularity.
Not everyone is upset about the new changes to the system though. According to another local news station, KOB.com, New Mexican resident Mathew Tuttle has bought lotto tickets for a long time knowing the likelihood of a big win is almost impossible. He rationalizes the expense by thinking of his children’s education. People who win a lottery jackpot, no matter the value, lose or spend all of their money about 70% of the time. Winning an education for a child meanwhile is an invaluable thing.
“I do still buy tickets occasionally, knowing I’m not going to win, and knowing that my daughter’s college education was paid for that way,” Tuttle said.
In addition to the overall increase in winning percentage, they also rose the amount won for matching four white balls with the red Powerball from $10,000 to $50,000. So while the chances of winning a mega-jackpot have only gotten worse, there’s still a chance to win something in New Mexico’s state lottery.
