Powerball is kicking it up-10 millionaires were made tonight!!.Prev Topic Next Topic

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LottoMetro

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Jan 23, 2015, 3:31 pm

Quote: Originally posted by maringoman on Jan 23, 2015
LM you know these things. Why the greed though? The states already get half of the wagered money and majority of the times nobody wins the second prize so they get to keep most of their share

Greed definitely drives part of it, but at the same time I understand their position. States get "used to" the revenues that come in during and after high jackpot runs. Many states depend on Powerball and Mega Millions alone for 50% or more of their total revenue. I'm not afraid to call them idiots for vesting so much into jackpot draw games though. They really are out of touch with reality and the discussions that take place during conferences are evidence of that.

So what has happened is their greed has got the better of them. I would say in the last 5 years this has become more pronounced. In an effort to boost sales they changed the matrices (or price, in the case of PB) to allow for bigger jackpots. These jackpots came and set new records. Now a new bar has been set, and the media stops caring about the games until the jackpots get close to this bar again (lotteries are obsessed with the media). Players stop caring about the games until they see it in the news, or until the jackpot is high enough to seem like a good bet relative to the terrible odds. It's a feedback loop.

Things are only going to get worse with the new matrix. A new record will be set (just a matter of time), and then more and more players will stop participating in the lower jackpots. The only way to get around this is to speed up the time it takes to reach a high jackpot. How do we do this? Raise the price. Since they already did that with Powerball, the next option is to change the odds. This ensures that it will roll longer which leads to higher jackpots. If this doesn't work they may change the odds again AND change the price, likely lowering the price and raising the odds or vice versa. I think the real fundamental issue is lack of control. They hate the fact that random luck determines whether they will have a decent jackpot run or not. They've become too dependent on eye-popping jackpots.

Again, it's a diversification issue. The states that allocated the majority of their portfolio to scratch-offs, for example, still managed to have a great 2014. But the per-capita revenues from draw games, especially PB and MM during successful cycles, is so alluring that most lotteries focus too much on that. I think that in the end they will realize they should listen more to players and not their vendors or any lottery association (I am becoming more anti-vendor every day ). Obviously the demands from state legislators for increasing revenue year over year are high and pressuring, but the vendors' eyes are bigger.

If the chances of winning the jackpot are so slim, why play when the jackpot is so small? Your chances never change, but the potential payoff does.
If a crystal ball showed you the future of the rest of your life, and in that future you will never win a jackpot, would you still play?

P&L % = Total Win($)/Total Wager($) - 1
mypiemaster

LOOK WHO IS LAUGHING NOW.

EUPHORIA.
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Jan 25, 2015, 1:49 am

This is awesome. Ten more millionaires from nine different states were made in this draw. Cali's pari-mutuel draw doesn't sound so enticing{2 wishful thinking millionaires}. The dreaded 2x powerplay rears it's ugly head again. Players should not be charged for 2x multipliers, it should be abolished because it sucks. I can see the lottery god's sitting around, with their fingers up their nostrils yelling "SUCKERS" every time the 2x multiplier is drawn. The jackpot keeps on growing, which is a wonderful thing.

Seek and ye shall find -Matt. 7:7 ...Ask and ye shall receive -John 16:24 ...Give and it shall be given unto you -Luke 6:38 ...Be careful what you ask for!!! -Mypiemaster 1:1

Having Money Solves Problems That Not Having Money Creates ****John Carlton****
LottoMetro

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Jan 25, 2015, 6:41 am

Quote: Originally posted by mypiemaster on Jan 25, 2015
This is awesome. Ten more millionaires from nine different states were made in this draw. Cali's pari-mutuel draw doesn't sound so enticing{2 wishful thinking millionaires}. The dreaded 2x powerplay rears it's ugly head again. Players should not be charged for 2x multipliers, it should be abolished because it sucks. I can see the lottery god's sitting around, with their fingers up their nostrils yelling "SUCKERS" every time the 2x multiplier is drawn. The jackpot keeps on growing, which is a wonderful thing.

Players should not be charged for 2x multipliers, it should be abolished because it sucks. I can see the lottery god's sitting around, with their fingers up their nostrils yelling "SUCKERS" every time the 2x multiplier is drawn. The jackpot keeps on growing, which is a wonderful thing.

Well, you'll be pleased to know that the new Powerball matrix will include a 2X, 3X, 4X, 5X, and 10X multiplier at no extra charge on the base ticket.

And I agree, a growing jackpot is a good thing

If the chances of winning the jackpot are so slim, why play when the jackpot is so small? Your chances never change, but the potential payoff does.
If a crystal ball showed you the future of the rest of your life, and in that future you will never win a jackpot, would you still play?

P&L % = Total Win($)/Total Wager($) - 1
Theox-

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November 9, 2013
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Jan 25, 2015, 8:55 am

Someone in my state won a million dollars last night. I didn't win anything

Maybe I'll get lucky on Wednesday!
maringoman

Massachusetts
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April 14, 2006
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Jan 25, 2015, 11:23 am

PB is creating more millionaires than that doomed game MMC. MUSL just can't stand to see a good thing existing. Hopefully more of us can get lucky before they butcher the game like they did to MM.

That money's gone fo ever
maringoman

Massachusetts
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Jan 25, 2015, 11:37 am

Quote: Originally posted by LottoMetro on Jan 23, 2015
Greed definitely drives part of it, but at the same time I understand their position. States get "used to" the revenues that come in during and after high jackpot runs. Many states depend on Powerball and Mega Millions alone for 50% or more of their total revenue. I'm not afraid to call them idiots for vesting so much into jackpot draw games though. They really are out of touch with reality and the discussions that take place during conferences are evidence of that.

So what has happened is their greed has got the better of them. I would say in the last 5 years this has become more pronounced. In an effort to boost sales they changed the matrices (or price, in the case of PB) to allow for bigger jackpots. These jackpots came and set new records. Now a new bar has been set, and the media stops caring about the games until the jackpots get close to this bar again (lotteries are obsessed with the media). Players stop caring about the games until they see it in the news, or until the jackpot is high enough to seem like a good bet relative to the terrible odds. It's a feedback loop.

Things are only going to get worse with the new matrix. A new record will be set (just a matter of time), and then more and more players will stop participating in the lower jackpots. The only way to get around this is to speed up the time it takes to reach a high jackpot. How do we do this? Raise the price. Since they already did that with Powerball, the next option is to change the odds. This ensures that it will roll longer which leads to higher jackpots. If this doesn't work they may change the odds again AND change the price, likely lowering the price and raising the odds or vice versa. I think the real fundamental issue is lack of control. They hate the fact that random luck determines whether they will have a decent jackpot run or not. They've become too dependent on eye-popping jackpots.

Again, it's a diversification issue. The states that allocated the majority of their portfolio to scratch-offs, for example, still managed to have a great 2014. But the per-capita revenues from draw games, especially PB and MM during successful cycles, is so alluring that most lotteries focus too much on that. I think that in the end they will realize they should listen more to players and not their vendors or any lottery association (I am becoming more anti-vendor every day ). Obviously the demands from state legislators for increasing revenue year over year are high and pressuring, but the vendors' eyes are bigger.

I suppose there are those who are motivated to play only when they see skyrocketing jackpots. One can only hope MUSL knows what it is doing because the whole thing could backfire real bad

That money's gone fo ever
mypiemaster

LOOK WHO IS LAUGHING NOW.

EUPHORIA.
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April 2, 2013
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Jan 25, 2015, 3:23 pm

Quote: Originally posted by LottoMetro on Jan 25, 2015
Players should not be charged for 2x multipliers, it should be abolished because it sucks. I can see the lottery god's sitting around, with their fingers up their nostrils yelling "SUCKERS" every time the 2x multiplier is drawn. The jackpot keeps on growing, which is a wonderful thing.

Well, you'll be pleased to know that the new Powerball matrix will include a 2X, 3X, 4X, 5X, and 10X multiplier at no extra charge on the base ticket.

And I agree, a growing jackpot is a good thing

The new Powerball matrix, at current odds, will be a fantastic thing. I bet you that when it gets implemented, the new odds will be in the stratosphere thereby screwing up something that could have been a good thing for the players. What am I thinking?. It's about lottery profits, not about player satisfaction.

Seek and ye shall find -Matt. 7:7 ...Ask and ye shall receive -John 16:24 ...Give and it shall be given unto you -Luke 6:38 ...Be careful what you ask for!!! -Mypiemaster 1:1

Having Money Solves Problems That Not Having Money Creates ****John Carlton****
mypiemaster

LOOK WHO IS LAUGHING NOW.

EUPHORIA.
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April 2, 2013
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Jan 25, 2015, 3:34 pm

Quote: Originally posted by maringoman on Jan 25, 2015
PB is creating more millionaires than that doomed game MMC. MUSL just can't stand to see a good thing existing. Hopefully more of us can get lucky before they butcher the game like they did to MM.

BUTCHER is the operative word. About 24 millionaires made in the last 3 draws{including Cali's wishful thinking millionaires} just for 5+0 tier only. You know that those lottery gods are now squirming in their seats and the winning players are all smiles.

Seek and ye shall find -Matt. 7:7 ...Ask and ye shall receive -John 16:24 ...Give and it shall be given unto you -Luke 6:38 ...Be careful what you ask for!!! -Mypiemaster 1:1

Having Money Solves Problems That Not Having Money Creates ****John Carlton****
veganlife125

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May 18, 2013
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Jan 25, 2015, 5:30 pm

Quote: Originally posted by LottoMetro on Jan 25, 2015
Players should not be charged for 2x multipliers, it should be abolished because it sucks. I can see the lottery god's sitting around, with their fingers up their nostrils yelling "SUCKERS" every time the 2x multiplier is drawn. The jackpot keeps on growing, which is a wonderful thing.

Well, you'll be pleased to know that the new Powerball matrix will include a 2X, 3X, 4X, 5X, and 10X multiplier at no extra charge on the base ticket.

And I agree, a growing jackpot is a good thing

Did you make a mistake when you said a 10X multiplier? How could that work? Say a 300 million lottery jackpot got hit by 1 ticket. However 25 people won a million and the multiplier was 10X. Are you saying they would take 250 million off the top for those people leaving 50 million for the jackpot winner? If so i quess they found a way to SPREAD IT AROUND a little bit. That could create some negative press. I could even see them going negative on some draws if the numbers hit just right.

They need to just get rid of all those multipliers on both MM and PB. Just set the second prize at 1 or 2 million thats enough.

Don't forget to visit the Lottery Post Gift Shop!
LottoMetro

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Jan 25, 2015, 5:53 pm

Quote: Originally posted by veganlife125 on Jan 25, 2015
Did you make a mistake when you said a 10X multiplier? How could that work? Say a 300 million lottery jackpot got hit by 1 ticket. However 25 people won a million and the multiplier was 10X. Are you saying they would take 250 million off the top for those people leaving 50 million for the jackpot winner? If so i quess they found a way to SPREAD IT AROUND a little bit. That could create some negative press. I could even see them going negative on some draws if the numbers hit just right.

They need to just get rid of all those multipliers on both MM and PB. Just set the second prize at 1 or 2 million thats enough.

No mistake, there will be a 10X. The multiplier will only apply to prizes from the 3rd tier and lower. No multiplied jackpot or 2nd prize. You can read more in this thread (ignore any confusing posts, i.e. saying multiplier is not included). Some states have posted draft rules already; most mention it in Dec. commission minutes.

If the chances of winning the jackpot are so slim, why play when the jackpot is so small? Your chances never change, but the potential payoff does.
If a crystal ball showed you the future of the rest of your life, and in that future you will never win a jackpot, would you still play?

P&L % = Total Win($)/Total Wager($) - 1
noise-gate

* In hot pursuit of $ *

White Shores- California
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Jan 25, 2015, 8:28 pm

Some of the usual suspects got on the 2nd prize PB winning board last night: namely NY,NJ & CA...

If either had won..

* Voice of Reason *

* People who say it cannot be done should not interrupt those who are doing it- George Bernard Shaw.
maringoman

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Jan 25, 2015, 9:10 pm

Quote: Originally posted by noise-gate on Jan 25, 2015
Some of the usual suspects got on the 2nd prize PB winning board last night: namely NY,NJ & CA...

If either had won..

I noticed that the Powerball mad Floridians were missing in that line-up. What gives?

That money's gone fo ever
maringoman

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April 14, 2006
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Jan 25, 2015, 9:15 pm

Quote: Originally posted by mypiemaster on Jan 25, 2015
BUTCHER is the operative word. About 24 millionaires made in the last 3 draws{including Cali's wishful thinking millionaires} just for 5+0 tier only. You know that those lottery gods are now squirming in their seats and the winning players are all smiles.

Imagine that. 24 millionaires and February is still a week away. Powerball as it is is a good game. If only I could be part of the winners soon enough I'll call it a great game.

That money's gone fo ever
veganlife125

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May 18, 2013
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Jan 25, 2015, 10:14 pm

Quote: Originally posted by LottoMetro on Jan 25, 2015
No mistake, there will be a 10X. The multiplier will only apply to prizes from the 3rd tier and lower. No multiplied jackpot or 2nd prize. You can read more in this thread (ignore any confusing posts, i.e. saying multiplier is not included). Some states have posted draft rules already; most mention it in Dec. commission minutes.

Ah ok thanks LottoMetro.

Don't forget to visit the Lottery Post Gift Shop!
noise-gate

* In hot pursuit of $ *

White Shores- California
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December 12, 2012
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Jan 25, 2015, 10:42 pm

Quote: Originally posted by maringoman on Jan 25, 2015
I noticed that the Powerball mad Floridians were missing in that line-up. What gives?

Perhaps withholding their finances in order to contribute towards Jeb Bush's Presidential

Run...

* Voice of Reason *

* People who say it cannot be done should not interrupt those who are doing it- George Bernard Shaw.