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Connecticut likely to stick with Powerball

Connecticut LotteryConnecticut Lottery: Connecticut likely to stick with Powerball

Connecticut gaming officials are ready to approve changes to the Powerball lottery, including steeper odds and back-loaded jackpot payments, despite concerns raised last month by Gov. M. Jodi Rell.

Paul A. Young, executive director of the Division of Special Revenue, wrote to the governor late last week, saying that the alternative is for Connecticut not to participate in the multi-state lottery game.

Young also wrote that the changes, which already have been approved by the other participating states, still leave participants with astronomical odds against winning the jackpot.

And though the new rules also would delay the largest winning payments to the final decade in a 30-year schedule, more than 90 percent of Powerball winners opt not to receive their prize over the long term, choosing instead to forfeit a portion and take an immediate lump sum prize.

Currently, Powerball involves drawing five numbers from a pool of 53, and a sixth, or "Powerball" number, from a pool of 42. The odds against getting all six numbers and winning the jackpot are 120 million-to-1, Young wrote.

The new rules, which the division is expected to approve this week, would increase the first drawing pool from 53 to 55, raising the overall odds against winning the jackpot to 146 million-to-1.

"The chances of winning the grand prize have always been extremely low," Young wrote, calling this a minor change.

And though the other rule change might discourage some winners from waiting 30 years for their full prize, the new rules also call for the minimum jackpot prize to increase from $10 million to $15 million.

"In my view, such a change to the payout schedule appears to be of no benefit to winners," Rell wrote to Young last month. "In fact, Powerball winners would have to wait at least 20 years to receive sizable payouts. That's unfair, and makes a winner a loser."

But Young said the only alternatives, should Connecticut drop Powerball, are to participate in no multi-state game, or to join the Mega Millions, which would put Connecticut gamblers in a pool with those from New York, California, and other large states. The odds against winning that game's jackpot are 175 million-to-1, he wrote.

Rell wrote she also fears worsening the odds could produce higher jackpots more frequently, and in turn "entice more people to bet beyond their means."

Young responded, "There is no doubt that large grand prizes will attract more attention from the media and, therefore, the public. However, our belief is that consumers realize that their chances of winning the grand prize is a function of sheer luck and they will not dramatically alter their playing habits."

Journal Inquirer

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17 comments. Last comment 11 years ago by CASH Only.
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Avatar
New Mexico
United States
Member #12305
March 10, 2005
2984 Posts
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Posted: August 16, 2005, 7:52 am - IP Logged

Too bad.  Seems to me they'd be better served dropping out of Powerball and joining Euro Millions.

Jack

Absorb the good, ignore the bad, weigh the ugly.

It's about number behavior.

Egos don't count.

 

Dedicated to the memory of Big Loooser

 

    Todd's avatar - Cylon 2.gif
    Chief Bottle Washer
    New Jersey
    United States
    Member #1
    May 31, 2000
    23259 Posts
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    Posted: August 16, 2005, 8:14 am - IP Logged

    Too bad.  Seems to me they'd be better served dropping out of Powerball and joining Euro Millions.

    Jack

    Now there's a novel idea!

     

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

     

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

      Avatar
      Sparta, NJ
      United States
      Member #18331
      July 9, 2005
      1977 Posts
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      Posted: August 16, 2005, 8:23 am - IP Logged

      Could they do that (dropping out of Powerball and joining Euro Millions)? Boy, that would stir the pot! There'd be hundreds of hours of enjoyment watching the flack!

      Cheers

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

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


        United States
        Member #379
        June 5, 2002
        11296 Posts
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        Posted: August 16, 2005, 10:45 am - IP Logged

        Once again, the author is wrong about cash v annuity. Winners forfeit NOTHING by taking cash.

          Avatar
          Louisville, KY
          United States
          Member #15734
          May 20, 2005
          203 Posts
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          Posted: August 16, 2005, 11:17 am - IP Logged

          Connecticut is a part of "New England,", isn't it? Big Grin

            Avatar

            United States
            Member #972
            December 30, 2002
            465 Posts
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            Posted: August 16, 2005, 2:58 pm - IP Logged

            With the so-called "backloaded" annuity, you would have to be insane not to take the cash. Who would want to be in bed with this gang of con artists for 30 years? A 30 year annuity with unequal payments is way too long and just reeks of chicanery to falsely elevate the advertised jackpot.  

              Bradly_60's avatar - disney37
              Atlantic Mine, Michigan
              United States
              Member #416
              June 23, 2002
              1614 Posts
              Offline
              Posted: August 16, 2005, 4:26 pm - IP Logged

              Powerball knows that almost all people take the cash.  That is why they don't mind doing the jackpot in increasing payments.  They just want to be able to increase the advertised jackpots quicker and higher.

              Brad


                United States
                Member #3676
                February 10, 2004
                425 Posts
                Offline
                Posted: August 16, 2005, 6:53 pm - IP Logged

                Petitions should be formed to stop this false advertising of jackpots. Lets wake up and do it how they do it in Canada or Europe.  For the lotteries to pay back such miserable percentages and then have us pay nasty taxes on top of it is totally disgusting.  Every game should be a lump sum game, and if that kills the state lotteries so be it. No one is playing state lotto anyway. Everyone is playing either multi state or scratch offs.  Have a group of about 5-6 musl lottos and do away with state lotteries unless you are a big state like CA, TX, FL , or even NY.  But enough of this tricanery.

                  weshar75's avatar - Lottery-042.jpg
                  Mcminnville, Oregon
                  United States
                  Member #3013
                  December 13, 2003
                  3046 Posts
                  Offline
                  Posted: August 16, 2005, 7:08 pm - IP Logged

                  I think it is funny that CT wants to leave the powerball since they just had a winner and their are still alot of states in powerball that have not won a jackpot in some time now.  I think that they will stay in the powerball and go through the changes just like the rest of MUSL members will on the 29th.

                    Avatar
                    New Mexico
                    United States
                    Member #12305
                    March 10, 2005
                    2984 Posts
                    Offline
                    Posted: August 17, 2005, 12:15 am - IP Logged

                    Petitions should be formed to stop this false advertising of jackpots. Lets wake up and do it how they do it in Canada or Europe.  For the lotteries to pay back such miserable percentages and then have us pay nasty taxes on top of it is totally disgusting.  Every game should be a lump sum game, and if that kills the state lotteries so be it. No one is playing state lotto anyway. Everyone is playing either multi state or scratch offs.  Have a group of about 5-6 musl lottos and do away with state lotteries unless you are a big state like CA, TX, FL , or even NY.  But enough of this tricanery.

                    Another option might be to consider the alternatives available through the link Todd provided on the online lottery thread.

                    Petitions mightn't move the State Lottery officials and PBMM folks, but watching the dollars trickle away to Canada and Europe almost surely would.

                    Jack

                    Absorb the good, ignore the bad, weigh the ugly.

                    It's about number behavior.

                    Egos don't count.

                     

                    Dedicated to the memory of Big Loooser

                     

                      dvdiva's avatar - 8ball

                      United States
                      Member #2338
                      September 17, 2003
                      2063 Posts
                      Offline
                      Posted: August 17, 2005, 12:49 am - IP Logged

                      So with the back loaded annuity did the percent change for the cash prize?


                        United States
                        Member #16612
                        June 2, 2005
                        3493 Posts
                        Offline
                        Posted: August 17, 2005, 12:54 am - IP Logged

                        I'm happy to see CT keep PB in the game because they need to compete with MM. If CT had dropped PB, they could join MM or start their own lottery. Either way, CT made the right decision to stay in PB or go with MM with 176 million to 1 odds.

                          whodeani's avatar - lightening

                          United States
                          Member #2484
                          October 9, 2003
                          212 Posts
                          Offline
                          Posted: August 17, 2005, 11:10 am - IP Logged

                          Once again, the author is wrong about cash v annuity. Winners forfeit NOTHING by taking cash.

                          I agree. These journalists who write these articles have no idea what they are talking about. They really need to educate themselves about cash vs. annuity. When you take the cash you are getting every cent the lottery commission starts out with if the annuity is chosen minus the taxes. When will these journalists ever learn?

                            Avatar
                            New Mexico
                            United States
                            Member #12305
                            March 10, 2005
                            2984 Posts
                            Offline
                            Posted: August 17, 2005, 11:33 am - IP Logged

                            When will these journalists ever learn?

                            Probably never.  The younger ones were most likely educated in schools funded by lottery money.

                            Jack

                            Absorb the good, ignore the bad, weigh the ugly.

                            It's about number behavior.

                            Egos don't count.

                             

                            Dedicated to the memory of Big Loooser