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$190 MILLION: Mega Millions lottery jackpot rolls

Topic closed. 51 replies. Last post 4 years ago by dallascowboyfan.

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dallascowboyfan's avatar - tiana the-princess-and-the-frog.jpg
Oklahoma
United States
Member #82391
November 12, 2009
6290 Posts
Offline
Posted: May 16, 2013, 3:23 pm - IP Logged

Smart move: make the top prize ridiculously hard to win, and expect more people to play... <NOT!>

Matchcurrent 5/56+1/46 Odds 1 inproposed 5/75+1/15 Odds 1 in
5 + Mega175,711,536258,890,850
5 of 53,904,70118,492,204
4 + Mega689,065739,688
4 of 515,31352,835
3 + Mega13,78110,720
3 of 5306766
2 + Mega844473
1 + Mega14156
Mega7521
overall39.8914.71

Oh, but at least the puny $2/$3 prizes are easier. Meh...

This SUXS Bang Head

I Love Pink & Green 1908

    Teddi's avatar - Lottery-008.jpg

    United States
    Member #142499
    May 13, 2013
    1182 Posts
    Offline
    Posted: May 16, 2013, 3:28 pm - IP Logged

    I rarely play as it is and this new format will alienate even more people.

    Not only are they going to make the top prize that much harder to win but the odds of winning the 2nd tier prize would go up over 373%. They will publicize this as being much easier to win....sure if you enjoy getting $2 or $3 winners.

    I believe this is a mistake to do. I have no doubt that the MM jackpots will increase in size, but it'll take forever to get there. And since the odds of winning are even less, players will turn to other games where the probabilities are better, only bothering to try their luck at MM when the JP is large enough.

    In the meantime, the public will be seeing more jackpot winners from PB than MM by comparison, so that's where they'll go to try their luck.

      Teddi's avatar - Lottery-008.jpg

      United States
      Member #142499
      May 13, 2013
      1182 Posts
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      Posted: May 16, 2013, 3:29 pm - IP Logged

      This SUXS Bang Head

      I Agree!

        Jill34786's avatar - Lottery-006.jpg
        Windermere, FL/Franklin, TN
        United States
        Member #50210
        March 1, 2007
        843 Posts
        Offline
        Posted: May 16, 2013, 3:56 pm - IP Logged

        I believe this is a mistake to do. I have no doubt that the MM jackpots will increase in size, but it'll take forever to get there. And since the odds of winning are even less, players will turn to other games where the probabilities are better, only bothering to try their luck at MM when the JP is large enough.

        In the meantime, the public will be seeing more jackpot winners from PB than MM by comparison, so that's where they'll go to try their luck.

        Changing the 2nd place odds from 3.9 million to 18.4 million is insane. There are many in state lotteries that pay out much more with better odds. This will certainly drive away many individuals who consider the odds prior to participating. Sure there are some who couldn't care less....the big jackpot is all they care about.


          United States
          Member #106134
          February 13, 2011
          806 Posts
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          Posted: May 16, 2013, 6:01 pm - IP Logged

          Hopefully they raise the amounts along with the odds.  I wouldn't care to see the odds for 5+1 & 5+0 go up as long as 5+1 starts out at $25 mil at least & 5+0 prize changes to at least $2.5 million.

            Teddi's avatar - Lottery-008.jpg

            United States
            Member #142499
            May 13, 2013
            1182 Posts
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            Posted: May 16, 2013, 7:00 pm - IP Logged

            Changing the 2nd place odds from 3.9 million to 18.4 million is insane. There are many in state lotteries that pay out much more with better odds. This will certainly drive away many individuals who consider the odds prior to participating. Sure there are some who couldn't care less....the big jackpot is all they care about.

            Exactly, I'd rather go ahead and stick to the state games. Most you're going to get for 2nd place here is $2M. Why not take chances with local lotteries where so many wins are between the $5M and $30M range. At least in my old state. 

            I don't get what they were thinking. 

            PB increased their prices (not good) but then decreased the number of balls (good) and doubled their starting JP (good), so at least the good tempered the price hike.

            MM isn't doing anything except making it harder to win (not good). If they're going to do something idiotic like that, then they need to have something to outweigh the longer odds

            perhaps something like doubling the 2nd place prize to $2M, with a multiplier option of $4M. Increase the 3rd place from $10,000 to $250,000 or even $500,000. Something like that, to at least entice people to keep playing. Otherwise, I personally have no incentive to  MM until there's another huge JP.

              Teddi's avatar - Lottery-008.jpg

              United States
              Member #142499
              May 13, 2013
              1182 Posts
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              Posted: May 16, 2013, 7:11 pm - IP Logged

              Hopefully they raise the amounts along with the odds.  I wouldn't care to see the odds for 5+1 & 5+0 go up as long as 5+1 starts out at $25 mil at least & 5+0 prize changes to at least $2.5 million.

              LOL. Great minds think alike. Just reading this now and we're on the same page. I Agree!

               

              If I were ever in charge of a lottery game which had really long odds, I would do away with the annuity. If the JP is $190M, $190M is what would be paid out. Minus taxes. But no annuity vs cash payout BS. They win the advertised JP in it's entirety right away. 

              I think people would go for that and wouldn't pay so much attention to the fact that they would have a better chance of being raised from the dead than winning. 

                dallascowboyfan's avatar - tiana the-princess-and-the-frog.jpg
                Oklahoma
                United States
                Member #82391
                November 12, 2009
                6290 Posts
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                Posted: May 16, 2013, 8:40 pm - IP Logged

                Changing the 2nd place odds from 3.9 million to 18.4 million is insane. There are many in state lotteries that pay out much more with better odds. This will certainly drive away many individuals who consider the odds prior to participating. Sure there are some who couldn't care less....the big jackpot is all they care about.

                I Agree! I wish Oklahoma had a state lotto game Bang Head

                I Love Pink & Green 1908

                  Teddi's avatar - Lottery-008.jpg

                  United States
                  Member #142499
                  May 13, 2013
                  1182 Posts
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                  Posted: May 16, 2013, 9:50 pm - IP Logged

                  I Agree! I wish Oklahoma had a state lotto game Bang Head

                  Why don't they?

                    RJOh's avatar - chipmunk
                    mid-Ohio
                    United States
                    Member #9
                    March 24, 2001
                    19817 Posts
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                    Posted: May 17, 2013, 2:06 am - IP Logged

                    Sounds like they thinking of making more money by almost eliminating the chances of having to payout a jackpot.  It will certainly make some states games more profitable especially if they have better odds for winning jackpots of $20-$50M.  Unless they up MM second prize, local games will probably have better odds for prizes amounts.

                    Once they eliminate the odds of anyone ever winning the jackpot, they can start out with a larger one since it will be unlikely they would have to pay it out.

                     * you don't need to buy more tickets, just buy a winning ticket * 
                       
                                 Evil Looking       

                      Jill34786's avatar - Lottery-006.jpg
                      Windermere, FL/Franklin, TN
                      United States
                      Member #50210
                      March 1, 2007
                      843 Posts
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                      Posted: May 17, 2013, 3:58 pm - IP Logged

                      LOL. Great minds think alike. Just reading this now and we're on the same page. I Agree!

                       

                      If I were ever in charge of a lottery game which had really long odds, I would do away with the annuity. If the JP is $190M, $190M is what would be paid out. Minus taxes. But no annuity vs cash payout BS. They win the advertised JP in it's entirety right away. 

                      I think people would go for that and wouldn't pay so much attention to the fact that they would have a better chance of being raised from the dead than winning. 

                      That would indeed be nice!

                      Canada is one country that offers that. That still wouldn't free a US citizen/resident from any federal taxes.

                        Teddi's avatar - Lottery-008.jpg

                        United States
                        Member #142499
                        May 13, 2013
                        1182 Posts
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                        Posted: May 17, 2013, 4:33 pm - IP Logged

                        That would indeed be nice!

                        Canada is one country that offers that. That still wouldn't free a US citizen/resident from any federal taxes.

                        England too. Full jackpot and no taxes on it.

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                          Toronto
                          Canada
                          Member #138397
                          January 26, 2013
                          179 Posts
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                          Posted: May 17, 2013, 4:41 pm - IP Logged

                          And Australia. And all Euro Millions participating countries, if I didn't misread.

                           

                          In fact the US is the only one that fools people with annuitized values and then heavily tax the fair share of the prize that I know of.

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                            Keokuk,Iowa
                            United States
                            Member #116504
                            September 12, 2011
                            305 Posts
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                            Posted: May 17, 2013, 4:53 pm - IP Logged

                            That would indeed be nice!

                            Canada is one country that offers that. That still wouldn't free a US citizen/resident from any federal taxes.

                            You could always denounce your American citizenship,if you like.

                              Teddi's avatar - Lottery-008.jpg

                              United States
                              Member #142499
                              May 13, 2013
                              1182 Posts
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                              Posted: May 17, 2013, 4:56 pm - IP Logged

                              And Australia. And all Euro Millions participating countries, if I didn't misread.

                               

                              In fact the US is the only one that fools people with annuitized values and then heavily tax the fair share of the prize that I know of.

                              It's easy money for the federal government to earn. They'll never let go of it. 

                              How amazing would this be if the full $600M is what you would get. Right now you'd need a jackpot of well over a billion to end up with a $600M payout.

                              People would be a lot less excited if they didn't keep putting "fake" numbers up and having the winners take pictures with the big fake amount check.

                              Sorry Johnny, I know we told you you won $2M, but here's the real check for $800K. Thank you for playing "Who Wants to Be a Fake Millionaire"