Welcome Guest
Log In | Register )
You last visited December 7, 2016, 4:45 am
All times shown are
Eastern Time (GMT-5:00)

Powerball sales skid hurts lottery profits

Topic closed. 36 replies. Last post 11 years ago by CASH Only.

Page 2 of 3
PrintE-mailLink

United States
Member #16612
June 2, 2005
3493 Posts
Offline
Posted: July 27, 2005, 3:58 am - IP Logged

I think that MM will surpass the 363+ million first because of too many PB winners. PB should have increased the number of red powerballs from 42 to 45 increasing the odds of winning a prize and jackpot.

    Avatar
    Louisville, KY
    United States
    Member #15734
    May 20, 2005
    203 Posts
    Offline
    Posted: July 27, 2005, 4:02 am - IP Logged

    I think that MM will surpass the 363+ million first because of too many PB winners. PB should have increased the number of red powerballs from 42 to 45 increasing the odds of winning a prize and jackpot.

    I Agree!

      LosingJeff's avatar - flower
      Greenfield
      United States
      Member #3587
      February 2, 2004
      557 Posts
      Offline
      Posted: July 27, 2005, 4:53 am - IP Logged

      The Powerball should use the system that the Hoosier Lottery uses. They would make tons of money if they did--no kidding!

        LOTTOMIKE's avatar - cash money.jpg
        Tennessee
        United States
        Member #7853
        October 15, 2004
        11338 Posts
        Offline
        Posted: July 27, 2005, 5:12 am - IP Logged

        lol,sad but true losingjeff....

          Avatar
          Sparta, NJ
          United States
          Member #18331
          July 9, 2005
          1977 Posts
          Offline
          Posted: July 27, 2005, 9:06 am - IP Logged

          The PB/MM are like all businesses. The goal is to make money for the leadership, then the states. The player is at the bottom of the concern. When the so-called Directors see their bonuses dropping because of reduced sales, that results in maximum attention. Huge jackpots equate to huge budgets and a huge bonus. Trust me, as long as the state can make tons of money, and the employees can make a ton of money, they are happy. Right now they aren't happy. When their bonuses go up again, then they will be quiet little lambs.

           

          Cheers

          |||::> *'`*:-.,_,.-:*''*:--->>> Chewie  <<<---.*''*:-.,_,.-:*''* <:::|||

          I only trust myself - and that's a questionable choice

            Avatar
            New Mexico
            United States
            Member #12305
            March 10, 2005
            2984 Posts
            Offline
            Posted: July 27, 2005, 10:29 am - IP Logged

            The PB/MM are like all businesses. The goal is to make money for the leadership, then the states. The player is at the bottom of the concern. When the so-called Directors see their bonuses dropping because of reduced sales, that results in maximum attention. Huge jackpots equate to huge budgets and a huge bonus. Trust me, as long as the state can make tons of money, and the employees can make a ton of money, they are happy. Right now they aren't happy. When their bonuses go up again, then they will be quiet little lambs.

             

            There's probably a lot of truth to what you're saying.  Someone's making multi-state decisions biased in favor of lousy odds and unimaginable jackpots.  Those decisions have to be based on some sort of reasoning, which can certainly be influenced by self-interest.

            Someone's pushing the envelope, choosing to believe that there's a huge pool of potential ticket buyers out there who won't buy tickets for a $25 million jackpot, but will do so for a $200 million one.  It's obvious from some percentage of the posts here that some people actually think that way.  People who probably haven't seen a lot of wealth, but who evidently believe moderate wealth just wouldn't suffice to fill their fantasies.  Presumably, they'd rush out to buy tickets if the prize was $100 billion, but there was zero chance of winning.  PB and MM are missing a good opportunity by not cashing in on that group's assets (what they have left after they finish their dealings with some Nigerian spammers).

            On the other hand, there are millions of people who continue to buy scratchers and pick 5s.  A lot more will probably swing that way as the odds against winning become (more) astronomical. 

            I'd be the last person on earth to deny that human beings, Americans included, aren't using their gray matter when it comes to buying lottery tickets.  But I'd suggest their level of self-imposed stupidity is being over-estimated, both by PB and MM, if they think the reason Americans aren't buying tickets for those two big multis involves prizes being too small.

            Even though self-interest on the part of lottery officials might well give them a reason for believing it, or hoping it's so.

            Jack

              konane's avatar - wallace
              Atlanta, GA
              United States
              Member #1265
              March 13, 2003
              3333 Posts
              Offline
              Posted: July 27, 2005, 10:33 am - IP Logged

              The same people complaining about the matrix change are the same people not buying tickets when the jackpot is low. It's not a wonder that Powerball's sales are in a slump. On a federal level I would like to see state lottery winnings being tax free like in Europe so state games would have an edge over online or indian casinos but I doubt anyone at the federal level has the intellegence to pass something like that.

                I Agree!

              Good luck to everyone!


                United States
                Member #16612
                June 2, 2005
                3493 Posts
                Offline
                Posted: July 27, 2005, 12:39 pm - IP Logged

                The same people complaining about the matrix change are the same people not buying tickets when the jackpot is low. It's not a wonder that Powerball's sales are in a slump. On a federal level I would like to see state lottery winnings being tax free like in Europe so state games would have an edge over online or indian casinos but I doubt anyone at the federal level has the intellegence to pass something like that.

                I agree with what you said dvdiva. Players don't like to play PB when the jackpot is very low and only play when the jackpot is very high. I'm not complaining about the number of white balls going up from 53 to 55, but I'm complaining about the number of red power balls staying at 42 when I had demanded 45 to 47. PB needs to increase the odds of winning the jackpot as close to 176 million from MM.

                  Avatar

                  United States
                  Member #119
                  February 19, 2002
                  527 Posts
                  Offline
                  Posted: July 27, 2005, 2:37 pm - IP Logged

                  Jimmy Sand, you write,

                  "Impossible odds to impossible payouts? The lottery would have to have a payout around 80% for that kind of prize, and the jackpot would be the only prize. I take it you have no idea how lottery payouts work, or at least need to find yourself a odds calculator. Otherwise the king of the world might find himself bankrupt from being too generous with prizes."

                  First, I DO know how lottery payouts work and have no need for an odds calculator.  Second, you'd be surprised at how much profit PB and MM make.  They have never lost money.  Third, you also need to know that there would be no need for lotteries if your tax dollars were used wisely and efficiently by the spenders in your government of your taxes.  Fourth, the issue is greed: no prize amount is ever good enough for most people which makes the powers that be change the odds against us even more.  It isn't a question of "being too generous with prizes" but of being duped into what is shoved down our throats and being made to feel unhappy with smaller amounts-- like I said, $25,000,000 is more than enough for me.  It's not for you?

                   

                   

                    Avatar

                    United States
                    Member #972
                    December 30, 2002
                    465 Posts
                    Offline
                    Posted: July 27, 2005, 2:37 pm - IP Logged

                    Everyone would be happy with $5 or 10 million. But the incredible difficulty of winning combined with the routine "low" jackpot amounts have a hard time getting people out their stupor. If I'm going to daydream, isn't it more fun to daydream about what you'd do with $400 million instead of $12 million? The power of the daydream is a big factor. The odds are the same whether the jackpot is $12 million or $400 million, so it does make sense to wait for the pot to hit a certain amount before you play, especially if you aren't bound to a particular number.  Let other people fill the pot. There's not much small jackpot incentive for average quick-pick person on the fence about the lottery. 

                    I think the lure of increasing jackpots has its limits though. If jackpots started at $300 million people would soon get blase and wait for it to hit a billion. Or say, enough of this, I worked hard for my dollar and don't want to throw it away on this nonsense anymore. The real solution would be for the states and PB to accept the profits they make and not constantly go for increased odds and annuity shenanigans to boost sales until they make it so lousy people stop playing.

                    One solution PB could try is to have season tickets like MA has for MM.  Then you'd get people in for every drawing, no matter what the amount.  I'm surprised more states don't have them.  

                     

                     

                     

                     

                     

                     

                     

                     

                      Avatar
                      New Mexico
                      United States
                      Member #12305
                      March 10, 2005
                      2984 Posts
                      Offline
                      Posted: July 27, 2005, 8:09 pm - IP Logged

                      The same people complaining about the matrix change are the same people not buying tickets when the jackpot is low. It's not a wonder that Powerball's sales are in a slump. On a federal level I would like to see state lottery winnings being tax free like in Europe so state games would have an edge over online or indian casinos but I doubt anyone at the federal level has the intellegence to pass something like that.

                      I agree with what you said dvdiva. Players don't like to play PB when the jackpot is very low and only play when the jackpot is very high. I'm not complaining about the number of white balls going up from 53 to 55, but I'm complaining about the number of red power balls staying at 42 when I had demanded 45 to 47. PB needs to increase the odds of winning the jackpot as close to 176 million from MM.

                      Interesting information.  How'd you come by it?

                      My impression has always been the 'most players' buy tickets whenever they happen to think about it while they're in a convenience store, but that those same 'most players' remember more frequently and  buy more tickets when the jackpot is higher.

                      I'm not saying you're wrong, but I will say that I think you're wrong, that you don't know anymore than anyone else about what 'most players' like or don't like.  You and I have to guess about such things unless we have an inside line on the information, which I don't, and I doubt seriously you do.

                      Most players, I'll say as  flatly as you've done, like to win.  They like to win small amounts, and they like to win large amounts.  That's why casino managements set the slots to pay out plenty of small prizes, as well as the occasional large one.  They know their operation would have to shut down if all they offer on those slots is a buzzillion dollar prize maybe sometime.

                      Lottery operations could learn a lot by hauling a few Roccos in for an interrogation about what gamblers like and don't like.  So could people making bland statements about what lotteries ought to do.

                      Jack

                        Todd's avatar - Cylon 2.gif
                        Chief Bottle Washer
                        New Jersey
                        United States
                        Member #1
                        May 31, 2000
                        23262 Posts
                        Online
                        Posted: July 27, 2005, 8:27 pm - IP Logged

                        The same people complaining about the matrix change are the same people not buying tickets when the jackpot is low. It's not a wonder that Powerball's sales are in a slump. On a federal level I would like to see state lottery winnings being tax free like in Europe so state games would have an edge over online or indian casinos but I doubt anyone at the federal level has the intellegence to pass something like that.

                        The Federal Gov't would never stop taxing the lottery, because that's the only way the federal government makes money off of it.  The states, on the other hand, can stop imposing their taxes on it if they wished, because they would continue reaping the benefits of the lottery, and perhaps more so.  But I don't think they'd ever stop taxing it either, because by taxing, they are hedging their bets, so to speak.

                         

                        Check the State Lottery Report Card
                        What grade did your lottery earn?

                         

                        Sign the Petition for True Lottery Drawings
                        Help eliminate computerized drawings!

                          BaristaExpress's avatar - BaristaExpressMX zpsfb0d8b5d.png
                          Magnolia, Delaware
                          United States
                          Member #18795
                          July 20, 2005
                          789 Posts
                          Offline
                          Posted: July 27, 2005, 10:36 pm - IP Logged
                          Ah, I think it's good that PB is doing what it needs to do to compete with MM. I have always thought that we need a National Lottery though, but on the MM format with the megaplier for all. This is something that everyone could live with. Now with that kind of pool of people in one lottery would produce a very large starting point for a lottery. Just think about it! It would have to start around the fifty million, maybe even closer to the hundred million dollar range! Do you think that would make most of the players happy? If not then stop playing and for those of us that would be happy with that kind of starting point would keep playing. I really would like to see a national lottery come to light one-day (I'm not going to be holding my breath though), So I better just keep playing the PB in DE & the MM in Maryland and when in Jersey play MM there since they have no state tax on lottery winnings, unlike Maryland does for out of state players.
                            LOTTOMIKE's avatar - cash money.jpg
                            Tennessee
                            United States
                            Member #7853
                            October 15, 2004
                            11338 Posts
                            Offline
                            Posted: July 27, 2005, 10:53 pm - IP Logged

                            i did a poll on this,call it superball,mega and powerball combined.all 40 states.

                              dvdiva's avatar - 8ball

                              United States
                              Member #2338
                              September 17, 2003
                              2063 Posts
                              Offline
                              Posted: July 28, 2005, 12:29 am - IP Logged

                              Well you never know about not getting tax. First the amount is very small compared to other sources and they don't do it in Europe which is hardly known for being a low tax contenent.