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Dual multi-state lottery sales may keep jackpots lower

Topic closed. 69 replies. Last post 7 years ago by DC81.

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Urbandale, IA
United States
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November 11, 2004
115 Posts
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Posted: January 13, 2010, 3:50 pm - IP Logged

Jackpot now are the results of the number of tickets sold and states contributing 30% of sales to the jackpot.  Unless that formula changes, I don't see why jackpots should be any smaller, in fact they should continue to roll to the same size, just quicker and more often.  Facts are with more states participating, the starting jackpot should increase too.

Right you are.  Average Jackpots should stay about the same.  There will just be more Jackpots hit more often.

    megamillionaire's avatar - Sphere animated_small_ neg2.gif
    Queens, NY
    United States
    Member #245
    April 15, 2002
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    Posted: January 13, 2010, 8:00 pm - IP Logged

    I wish there was a game across all states that we all could have a chance to win,,cant someone out there come up with a game we all could play a win about $50,000 instead of all those millions...

    The last part of the article mentions the fact that a national lottery is coming either in December of 2010 or the beginning of 2011.

    Megamillionaire

    Time is a wonderful teacher, but it kills all its students.

    A man must consider what a rich realm he leaves when he becomes a conformist.

      ohiopick3's avatar - Lottery-063.jpg
      Ohio
      United States
      Member #3023
      December 14, 2003
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      Posted: January 13, 2010, 9:16 pm - IP Logged

      I feel that too many states offer too many games as it is right now. The more games, the more chances you have to lose your hard earned money. And by adding more games at different days of the week will only increase your chances of losing even more.

      Stick with the games available in your state and just play them. Stick with your budget and just sit back and enjoy life instead of chasing every dream that the Lotteries put out there for us to spend our money on.

      Playing any lottery game should be an "option" in ones budget. Not an increase for a demand to recover a states financial budget. And by adding more multi state games in more states, that's pretty sad. I'm glad Ohio did not join Powerball. Playing what is available is overwhelming as it is.

      So, in the long run, don't exceed your personal budget or else you will probably be doomed by spending more on the lottery just because it is there to play.

        Think's avatar - lightbulb
        Marquette, MI
        United States
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        August 20, 2005
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        Posted: January 13, 2010, 10:10 pm - IP Logged

        Since Mega Millions does not have a megaplier and the starting jackpots are lower, I wonder if Powerball is going to be much more heavily played than Mega Millions.

        They must not teach you about smoke and mirrors at the University of Georgia.  Powerball does not calculate its jackpot the same way Mega Millions does.  Look at the cash values of the jackpots compared to their annuity values.

          Think's avatar - lightbulb
          Marquette, MI
          United States
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          August 20, 2005
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          Posted: January 13, 2010, 10:16 pm - IP Logged

          I wish there was a game across all states that we all could have a chance to win,,cant someone out there come up with a game we all could play a win about $50,000 instead of all those millions...

          There is such a game.  It is Powerball with Multiplier.

            Think's avatar - lightbulb
            Marquette, MI
            United States
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            August 20, 2005
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            Posted: January 13, 2010, 10:26 pm - IP Logged

            Hurray!  At last, I have a date for New York to join Powerball. If they start selling tickets on Jan. 31 the first drawing will be Feb. 3. I agree with an earlier poster who said that winning a huge jackpot is not necessarily the only reason to play, 20 or 30 million is as good as 300 million.       

            Party

            It all depends on your imagination and expectations.  I suppose 20-30 Million will pay for alot of Beer, potato chips and cable tv bills.  I can see where different people would care about different amounts.  Certainly, if you are 18 years old and expect to live to 100, you could make an argument for $500,000,000-$600,000,000 jackpots.

            I have a minimum amount to play for but that does not stop me from figuring out what to do with more.

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              NY
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              October 16, 2005
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              Posted: January 14, 2010, 2:52 am - IP Logged

              Reason being that if there are more tickets sold in a given time period it is more likely that there will be a winner, rather than have the jackpot roll over.

              The increased chances of a winner will go hand in hand with bigger increases from one jackpot to the next.

              As long as the odds don't change we can (still) expect a long term average of one winner for every 176 or 195 milion tickets sold. Of course few of the jackpots that are won are average, and changing the number of tickets in a drawing will change the likely results of *that* drawing. When the jackpot is still relatively small the chance of a winner will still be relatively small, so we can expect faster growth to the 100 million range to be the norm. Since greater sales will result in a greater chance of a winner in any given drawing, we can expect that rollovers will be less likely, so for any given jackpot size the chance of a rollover will be less than it is at present. So, we should expect bigger rollovers, happening a bit less often. When we do get to the 200 to 225 range, bigger sales mean that a rollover  should  push jackpots to 300 or more with one roll instead of two, so there should be a better chance of seeing jackpots of 300 million and more. That will be balanced by the increased chance of multiple winners that will come with more tickets in play.

              "Facts are with more states participating, the starting jackpot should increase too."

              Maybe we'll see that happen down the road, but don't count on it. At present, the sales for the first drawing don't put enough in the prize pool to cover the starting jackpot, so on the (rare) occasions that there's a winner the lottery doesn't earn their expected profit. Of course, most of the time  there are at least a few rolls, and they can pay the jackpot and still get the profit they plan on. If typical sales increase to the point that the starting jackpot is covered, then we should see a modest increase. Obviously we shouldn't have a starting jackpot that's less than what's actually in the prize pool.

                Nino224's avatar - Lottery-013.jpg
                Miami
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                July 9, 2008
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                Posted: January 14, 2010, 5:23 am - IP Logged

                Florida's playing hard to get, just like they did with PB for all those years.

                Is it a given a new game will bring in more money? What reason could they have for not joining?

                "...a chance to push everything aside, the circumstances that've controlled our lives, and do it our way now. Good, bad or otherwise. You'll maybe get lost in it, tied up in it a little bit, but if you work your way through that the real you shows up, I think. Maybe what's at your core deep down, maybe that comes out. Maybe that's what it's about." Mike Pace 

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                  United States
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                  January 14, 2010
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                  Posted: January 14, 2010, 12:05 pm - IP Logged

                  Ok, while I am excited that my state, Kentucky, is ready to roll out Mega Millions along side Powerball, I am still having to wrestle with the ardouous question about identity security.

                  Knowing that games are subject to individual states agreeing to a certain set of rules, some states have diffrerent and conflicting rules regarding Winner Identity security.

                  Some states allow winners to shield themselves, out of regard for their personal safety, and identity control.

                  Other states feel that personal identities MUST BE PUBLICIZED in order to show all players that "Real People REALLY DO WIN"

                  as well as letting authorities/creditors know "erstwhile deadbeats now have real deep pockets, come feed, take as much as you want but eat all you take!"  While this measure insures "baddies don't get away with it..."

                  It also exposes otherwise honest tax-paying bill-paying winners to IDENTITY THEFT!

                  99 times out of 100, this thought is NEVER realy contemplated, especially in states where winners are compelled (probably through LOOSE interpretation of 'rules') to "go along to get along" and they don't mind the immediate publicity all that much....

                  but in too many Winner's "where are they now" stories, (Jack Whittaker, and for some here in KY, back in the late 90's/early 00's a Florence native)  the windfall, and the publicity brought NOTHING BUT HEARTACHE, and Tragedy....the money gets eaten up faster than a winner could responsibly get ahold of managing it.  All the while, the media hits the poor sucker with the glare of the spotlight, exacerbating the problem further....and in the end they become dead, broken, and worse off than when they won...

                  In my state, Identity control is squelched in favor of publicizing, to promote "Honest wins", and making sure "baddies don't get away with it...."

                  And my question is...what do you do if you find yourself holding the ticket, and have to run this gauntlet, to get the money? 

                  Up until now, the responses I have recived were completely inadequate.  they ranged from phony beards, to "move to another state" to "well just have your lawyer handle everything" to "Oh, well, you better get a good TAX ACCOUNTANT, because your tax rate just shot to the moon!"

                  Some of you remember reading the John Stienbeck story of "The Black Pearl?"  In the end that poor man, and his family, were so torn at by others, that he cursed that pearl he found and threw it back into the sea....

                  There MUST be a way to have a third party shield your identity, in states such as these, so as not to let either the state's clamor for regulation-keeping  trample on your 4th ammendment rights, when you DO attempt to claim, or any lawyer's suggestion for a TRUST vehicle that you agree to, completely eat up your windfall due to TRUST vehicle overhead....

                  What must you do....because now you are that poor indigent who just found the "Black Pearl"

                    Rowen's avatar - animal eel.jpg
                    Illinois
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                    Posted: January 14, 2010, 1:06 pm - IP Logged

                    IL is getting Powerball end of the month. Heard from place that I  buy my tickets from.

                      wizeguy's avatar - animaniacs04

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                      Posted: January 14, 2010, 5:42 pm - IP Logged

                      OH lottery site has a press release dated today... things are still subject to  approval and spring would be the earliest that Powerball *might* be sold <sigh>. Well, at least they are moving forward.

                        megamillionaire's avatar - Sphere animated_small_ neg2.gif
                        Queens, NY
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                        Posted: January 14, 2010, 7:54 pm - IP Logged

                        It all depends on your imagination and expectations.  I suppose 20-30 Million will pay for alot of Beer, potato chips and cable tv bills.  I can see where different people would care about different amounts.  Certainly, if you are 18 years old and expect to live to 100, you could make an argument for $500,000,000-$600,000,000 jackpots.

                        I have a minimum amount to play for but that does not stop me from figuring out what to do with more.

                        I don't drink beer and 20 or 30 million will build me one of the worlds greenest homes that will allow me to live off the grid thereby paying nothing  for heating, cooling or electricity. I will do a lot of traveling after the house is built and have a great place to come home to. If your 18 and can't retire with 20 or 30 million there's something wrong with you or you're just a greedy jerk.  No No

                        Megamillionaire

                        Time is a wonderful teacher, but it kills all its students.

                        A man must consider what a rich realm he leaves when he becomes a conformist.

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                          Illinois
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                          January 14, 2010
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                          Posted: January 14, 2010, 10:47 pm - IP Logged

                          IL is getting Powerball end of the month. Heard from place that I  buy my tickets from.

                          This is correct.  Powerball tickets will go on sale Jan. 31st for the Feb. 3rd drawing.  Illinois Lottery employee came into work today and explained the changes to us.

                            Guru101's avatar - rw6jhh
                            Indiana
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                            January 7, 2007
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                            Posted: January 14, 2010, 11:25 pm - IP Logged

                            Hopefully Mega Millions will keep rolling so we'll have a nice jackpot to go after that first drawing. I hope I win it too.Big Smile

                            Gonna win.Big Smile

                              chasingadream's avatar - Archangel 01.jpg

                              United States
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                              May 3, 2006
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                              Posted: January 15, 2010, 12:37 am - IP Logged

                              I'd like to know more about this national game that Shaheen is talking about.

                              Is he saying his Powerball group is going to run it?

                              I think the only thing we can count on now is that the matrix is going to be a monster.

                              I agree. The Matrix will be one to behold .....lol the tricky thing is trying to design a matrix that doesn't see so hard that the average person feels defeated and doesn't play

                              Oogle  waiting patiently for my jackpot