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Lotteries long for 'jackpot fever'

Topic locked. Last post more than one year ago by tony95. 63 comments.

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sirbrad's avatar - Lottery 062
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Posted: February 15, 2007, 4:10 pm - IP Logged Bottom

The only thing I like about the astronomical odds, is that I take home a hefty prize; and will most likely enjoy it as the sole winner. I would rather that than splitting a $100,000 with 5 people. Low tier prizes do nothing for me, except lower the cost of playing. But I don't wait until the jackpot is $100 million before I play. Honestly I would not mind the $5 million in cash, or whatever it is; as it is about as anonymous as I will get. Especially after a record jackpot winner.

People see $300 million they just lose it, and more people play. But then you also may have mutiple winners, which also is not going to sting as bad with the jackpot that high. The lottery wins everytime we lose, I would love to be in their situation. Then when we win so does the IRS. One thing I cannot stand about the lotties, the false jackpot claims, and how much the greedy hand of the IRS wants. They win everytime someone else does.

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Posted: February 15, 2007, 11:23 pm - IP Logged Bottom Top

I don't think it is as simple as "jackpot fatigue" - everyone I know thinks $2 million is a huge amount of money, let alone $50 or $100 million. They have to consider the downturn began after they raised the odds and lengthened the annuity length so they could advertise higher jackpots without actually having more money in the pot.  People catch on to things like that, people know the advertised amount is pretty much a con and the cash option is far lower and even lower after taxes.  Yes, you can say they had to raise odds so that they could expand the games to more states, and maybe that's true. But that does nothing to address the burnout people feel week after week of not winning. 

These are also brutal economic times, with foreclosures going way up, health costs and gas prices way up,  people not getting raises, a brutal and expensive war on, talk of apocalyptic global warming, and people feel besieged on all sides. It might be harder to spend that $1 you really need on something with 176 million to 1 odds.   

The fatigue comes from the odds of winning and the state of the world, not the amount of money in the jackpot. 

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Posted: February 16, 2007, 10:05 am - IP Logged Bottom Top

when I worked at 7-11 few years ago I told regular lotttery players that when they came into the store, they could give me 100 bucks and I would guarante they left the store with 50 in their pocket. Thats what masslottery does, it takes money from people and gives back nothing. thats why sales are off 38%

chasingadream's avatar - Archangel 01
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Posted: February 16, 2007, 2:10 pm - IP Logged Bottom Top

well im not going for the jackpot......i wanna get 2nd prize on either game.

Oogle  waiting patiently for my jackpot

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Posted: February 16, 2007, 4:10 pm - IP Logged Bottom Top

Are you suggesting that people are smart enough to know their chances of winning are extremely slim with odds of 1 in 150 million, but will think they've got a realistic chance with odds of 1 in 75 million? Even with smaller games the odds are high enough that the only rational thought is that you won't win. With 1 in 20 million odds spending $1000 a year means you should expect to win once every 20,000 years.

For the most part, the lottery pays out 50 cents for every dollar they collect, and the only rational thought is that you'll lose half of what you bet. The only question is whether or not you risk that loss aginst the possibility of being  among the minority who win. Maybe it's just  a matter of perspective, but I don't think sales for  huge jackpots have anything to do with overcoming rational thoughts about winning. I think it's a mixture of  regular players concentrating their efforts on the huge jackpots and people who rarely play figuring there's no more risk in spending a buck or two  on lottery tickets than buying that pack of gum that will also be gone in a day or two. Buying a ticket and expecting to win is irrational, but figuring you can afford to lose the $1 for the very slim chance of winning isn't, and the odds don't have anything to do with that.

Whether it's lottery sales or anything else, plenty of people are always ready to jump up and down and point to a single cause for whatever they happen to be concerned about, but life is almost never that simple. There are dozens of possible reasons why lottery sales  change. Perception of the odds is only one of them, and probably a minor one for most people. It's no more or less rational to spend $20 for a 1 in 125,000  chance of winning $1 million than to spend  $1 for a 1 in 175 million chance of winning $10 or 100 million. The rational people know they'll probably lose the money and play withj money they can afford to lose. As many posters here have pointed out, a lot of people stop for gas, cigarettes or a newspaper and decide to buy a ticket or two while they're at it. Most people have a limited amount of money to play around with (and most of the rest aren't buying a lot of lottery tickets anyway) so they have to decide what to buy and what not to buy. It makes perfect sense to me that lottery sales would be lower when filling your car with gas costs $50 than when it costs $25, so why is everybody so sure the odds are the most important reason to most players?

Just what would this "anti-multi state game" be, and how would it work?  To pay $20 or 30 million in prizes for each drawing would require collecting well over $20 or 30 million, assuming the lottery still intends to make a profit and that there won't be any prizes other than the $1 million. $50 million in PB sales means an advertised jackpot of about $60 million, which which generally comes after the 2nd roll. If it takes PB a week and a half to sell enough tickets to put $25 million in the prize pool how can you have a game that isn't multi state or that has  drawings more than a couple of times a year?

The odds are long either way, but yes people are smart enough to know that 75million:1 odds are much better than 150million:1.  Whether it's rational to play at all is another question altogether.  If your suggesting the odds don't matter then why not just up them to 500million:1?  You think people would still play?  The fact is that odds do matter, but more importantly odds changes matter more.  People know when they increase the odds 25 percent that what is really happening is that players are being asked to spend more to get the same chance they had before.  For me and apparently many others here it was the increase in the odds that has discouraged us from playing as much as I we before the change.

chasingadream's avatar - Archangel 01
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Posted: February 16, 2007, 8:06 pm - IP Logged Bottom Top

are we gonna have a roll or a hit tonight?

Oogle  waiting patiently for my jackpot

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Posted: February 16, 2007, 9:31 pm - IP Logged Bottom Top

People get tired of being either ripped off , cheated , or odds that are totally ridulasConehead

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Posted: February 17, 2007, 11:56 am - IP Logged Bottom Top

The "fever" starts when the jackpot gets a lot of media coverage. The media coverage starts either because the jackpot is a record or because other news is quiet. Record jackpots are hard to come by because there are more players and thus more often winners before it gets there. The jackpots on multi state games still seem to go up at the same rate so I think this "lull" at the multi-state level is at least partly an illusion. The slowdown is really in State Lotto sales because States that joined PB or MM have players that abandoned the State Lotto for the Multi State game with the bigger jackpots. For the average casual player 10 million or 100 million to 1 is the same thing but $100 million is much more exciting than anything under $10 million. Another factor is that if a record Powerball jackpot is reached they start using the rolldown rule which slows the jackpot itself.

The solution might be for PB or MM states to abandon their local Pick-6 games to get even more players into PB/MM and also the two should be combined but not to add more balls!

Again, I still usually have to wait in line behind the person buying dozens of scratch-offs and reading a list of 50 Pickits. No fever reduction here!


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Posted: February 17, 2007, 12:17 pm - IP Logged Bottom Top

The "fever" starts when the jackpot gets a lot of media coverage. The media coverage starts either because the jackpot is a record or because other news is quiet. Record jackpots are hard to come by because there are more players and thus more often winners before it gets there. The jackpots on multi state games still seem to go up at the same rate so I think this "lull" at the multi-state level is at least partly an illusion. The slowdown is really in State Lotto sales because States that joined PB or MM have players that abandoned the State Lotto for the Multi State game with the bigger jackpots. For the average casual player 10 million or 100 million to 1 is the same thing but $100 million is much more exciting than anything under $10 million. Another factor is that if a record Powerball jackpot is reached they start using the rolldown rule which slows the jackpot itself.

The solution might be for PB or MM states to abandon their local Pick-6 games to get even more players into PB/MM and also the two should be combined but not to add more balls!

Again, I still usually have to wait in line behind the person buying dozens of scratch-offs and reading a list of 50 Pickits. No fever reduction here!

In many cases, the "in-state" jackpot game is very inferior to MM/PB (a number of PB states don't have a "classic lotto" game.) MM/PB are better than NY Blotto (terrible payout), MA Megabucks/GA-KY-VA Lose for Life/OR Lose for Life (no cash option except for the El Cheapo in VA), and several games (ie Ohio Classic Lotto) where the cash value is fixed at a percentage of the annuity, instead of a (higher) floating percentage.

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Posted: February 17, 2007, 8:36 pm - IP Logged Bottom Top

The "fever" starts when the jackpot gets a lot of media coverage. The media coverage starts either because the jackpot is a record or because other news is quiet. Record jackpots are hard to come by because there are more players and thus more often winners before it gets there. The jackpots on multi state games still seem to go up at the same rate so I think this "lull" at the multi-state level is at least partly an illusion. The slowdown is really in State Lotto sales because States that joined PB or MM have players that abandoned the State Lotto for the Multi State game with the bigger jackpots. For the average casual player 10 million or 100 million to 1 is the same thing but $100 million is much more exciting than anything under $10 million. Another factor is that if a record Powerball jackpot is reached they start using the rolldown rule which slows the jackpot itself.

The solution might be for PB or MM states to abandon their local Pick-6 games to get even more players into PB/MM and also the two should be combined but not to add more balls!

Again, I still usually have to wait in line behind the person buying dozens of scratch-offs and reading a list of 50 Pickits. No fever reduction here!

Now I am starting to get aggravated because this has already been stated twice.  The average lottery jackpot amount is a function of the odds, not how many people play.  The laws of mathematics do not allow the jackpot to break a record every other turn.  Geez, please go back to high school if you dont understand this.

Our state lotto has never paid out more than a million dollars and averages about $300,000.