10/16/2005 - 9:09 AM
Record Powerball Jackpot Triggers New Match-5 Bonus The Powerball jackpot rolled to a new record-breaking high of $340 million when nobody matched all five white ball numbers and the red Powerball number in last night's drawing. The previous record was $315 million, won on Christmas Day 2002.
Since the new $340 million jackpot has surpassed the previous record level, Powerball's unique Match 5 Bonus will kick in for the first time for the drawing on Wednesday, Oct. 19, providing even more players the opportunity to share in a large prize.
Added to Powerball in 2002, the Match 5 Bonus pays a bonus prize to players who match the five white ball numbers, but miss the red Powerball number, when a new record Powerball jackpot is hit. Here's how it works:
Whenever a previous Powerball jackpot record has been surpassed, this new 'share the winnings ' feature sets jackpot growth to no more than $25 million per drawing. Any additional funds from sales that would have gone into the jackpot prize pool, are placed into the Match 5 Bonus prize pool. The Match 5 Bonus prize pool continues to accumulate with each drawing thereafter until the record jackpot is won. At that time, the bonus prize pool is divided equally among any match-5 winners. The Match 5 Bonus is not paid until the jackpot is won.
The Match 5 Bonus is paid in a lump sum in addition to the regular match-5 prize of $200,000 and any Power Play prizes. Power Play is a Powerball feature that allows players the opportunity to multiply any non-jackpot related prize by up to 5 times when they purchase the $1 Power Play option with their Powerball ticket. The Match 5 Bonus is not subject to the Power Play multiplier but is paid in addition to any applicable Power Play prize.
"It's thrilling to be able to unveil this new feature, which spreads Powerball's excitement and winnings even further," said Randy Davis, Louisiana Lottery president.
The Match 5 Bonus feature means that if the $340 million jackpot is hit on Wednesday, match-5 winners will share in the bonus prize, now estimated at $13 million. If the jackpot is not hit, it will roll to no more than $365 million for next Saturday's draw, and any additional jackpot prize pool funds would be placed in the Match-5 Bonus prize pool, which would also roll until the jackpot is won. The size of the Match-5 Bonus prize pool can be found on Powerball's Web site at www.powerball.com.
Even though no one won the Powerball jackpot last night, more than 63,000 tickets purchased in Louisiana won more than $337,000 for that drawing. The $340 million record jackpot is advertised as an annuity payable in 30 graduated installments. Winners can also opt for a one-time, lump-sum payment equal to the jackpot prize pool's cash value of $164.4 million for Wednesday's drawing.
Powerball is comprised of 29 member lotteries. The jackpot has been hit nine times by tickets sold in Louisiana, since the Louisiana Lottery joined the game in 1995.
As with all Louisiana Lottery games, 35 cents of every $1 in Powerball sales is transferred to the State of Louisiana to be used by the Minimum Foundation Program, which funds public education in Louisiana.
The Lottery encourages anyone who thinks they may have a gambling problem or has friends or family who may have a gambling problem to call toll free 1-877-770-7867. Ticket purchasers and promotion participants must be at least 21 years of age.