Justin Sullivan | GettyThe Powerball jackpot surged to an estimated $1.73 billion, the second-largest prize in the game's history, without a winning ticket on Monday.
While it's the first time Powerball has seen back-to-back billion-dollar grand prize cycles, lottery jackpots have gotten bigger more frequently over the past several years, experts say.
Without a jackpot winner, the estimated grand prize keeps rolling over until a player chooses all six numbers.
Higher interest rates have boosted jackpotsAnother reason for bigger lottery jackpots over the past couple of years has been rising interest rates, said Akshay Khanna, CEO of Jackpot.com, which sells state lottery tickets.
"The higher the interest rates, the more you're earning on that pool of capital."
Persons:
Justin Sullivan, J, Bret Toyne, Toyne, Akshay Khanna
Organizations:
Powerball, State Lottery Association