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Mega Millions lottery game's redesign aims at bigger jackpots, better overall odds

Topic closed. 97 replies. Last post 3 years ago by veganlife125.

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United States
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September 7, 2011
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Posted: July 21, 2013, 12:57 pm - IP Logged

I think powerball is taking all the fun away from having 100 million dollar jackpots. I used to be excited to see a 100+ million dollar jackpots but now I'm like no body wins at 100 million ill wait to its 250 or more that's when it's starts to get exciting. In my opinion mega has become the second tier jackpot game and doesn't need super jackpots.

Im glad they dont need em, cuz they sure dont have em..........

With PB....... Its easy to see that once the jackpot gets above $80 million the sales start to pick up, and on this draw ALONE it went $25 million higher. 

Saturday, July 20, 2013                 14 · 25 · 27 · 38 · 58    06                        $141 Million
Wednesday, July 17, 201301 · 22 · 34 · 38 · 42    17$116 Million
Saturday, July 13, 201302 · 08 · 22 · 35 · 37    06$94 Million
Wednesday, July 10, 201330 · 31 · 45 · 55 · 59    27$80 Million
Saturday, July 06, 201302 · 13 · 35 · 36 · 52    11$70 Million
Wednesday, July 03, 201303 · 06 · 29 · 40 · 51    04$60 Million
Saturday, June 29, 201308 · 28 · 30 · 53 · 56    16$50 Million
Wednesday, June 26, 201301 · 18 · 33 · 39 · 46    33$40 Million


    United States
    Member #116268
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    Posted: July 21, 2013, 1:02 pm - IP Logged

    The point (elephant in the room) is jackpot size in LESS than a month is at $141 million. From June 26, to July 20, we have a $144 million up for grabs and I think Thrifty can win it all on this draw with a $2. purchase.


      United States
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      Posted: July 21, 2013, 1:20 pm - IP Logged

      With MM launguishing below $100 million for 18 draws in a row, sales wont pick up anytime soon. 

      Perhaps in a year from now everyone will be happy with a $800 million jackpot that no one can seem to win?

        RJOh's avatar - chipmunk
        mid-Ohio
        United States
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        March 24, 2001
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        Posted: July 21, 2013, 3:49 pm - IP Logged

        Im glad they dont need em, cuz they sure dont have em..........

        With PB....... Its easy to see that once the jackpot gets above $80 million the sales start to pick up, and on this draw ALONE it went $25 million higher. 

        Saturday, July 20, 2013                 14 · 25 · 27 · 38 · 58    06                        $141 Million
        Wednesday, July 17, 201301 · 22 · 34 · 38 · 42    17$116 Million
        Saturday, July 13, 201302 · 08 · 22 · 35 · 37    06$94 Million
        Wednesday, July 10, 201330 · 31 · 45 · 55 · 59    27$80 Million
        Saturday, July 06, 201302 · 13 · 35 · 36 · 52    11$70 Million
        Wednesday, July 03, 201303 · 06 · 29 · 40 · 51    04$60 Million
        Saturday, June 29, 201308 · 28 · 30 · 53 · 56    16$50 Million
        Wednesday, June 26, 201301 · 18 · 33 · 39 · 46    33$40 Million

        Up until its jackpot reaches $90 Millions, PB jackpots are under funded by ticket sales so they are playing catch-up from having started their jackpots at $40 Millions and increasing them by at least $10 Millions until they're won.

        MegaMillions will take a more conservative approach by starting its jackpots at $15 Millions and increasing them by at least $5 Millions until they're won but even its jackpots could be under funded at the lower amounts.

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

          RedStang's avatar - tallman zps6gf4inoc.jpg
          NY
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          Posted: July 21, 2013, 4:21 pm - IP Logged

          Up until its jackpot reaches $90 Millions, PB jackpots are under funded by ticket sales so they are playing catch-up from having started their jackpots at $40 Millions and increasing them by at least $10 Millions until they're won.

          MegaMillions will take a more conservative approach by starting its jackpots at $15 Millions and increasing them by at least $5 Millions until they're won but even its jackpots could be under funded at the lower amounts.

          Don't see how they will fund the starting 15mill when ticket sales are so low they can only raise the recent jackpot by 1mill . Guess their taking a gamble too. They better pray no one hits for a few months.

            HoLeeKau's avatar - YheaShea
            Idaho
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            Posted: July 21, 2013, 4:35 pm - IP Logged

            Don't see how they will fund the starting 15mill when ticket sales are so low they can only raise the recent jackpot by 1mill . Guess their taking a gamble too. They better pray no one hits for a few months.

            I wonder if they buy insurance?

            You know, like the jacuzzi retailer who tells his customers if they buy a jacuzzi between Thanksgiving and Christmas, and we get 6" of snow on New Year's Day, their jacuzzi is free.  The retailer buys insurance that pays out if it snows 6" on NYD.

              RJOh's avatar - chipmunk
              mid-Ohio
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              Posted: July 21, 2013, 5:03 pm - IP Logged

              Don't see how they will fund the starting 15mill when ticket sales are so low they can only raise the recent jackpot by 1mill . Guess their taking a gamble too. They better pray no one hits for a few months.

              Actually the starting jackpots of $12M aren't fully funded by ticket sales now which is why they are increased by so little at the begining.  In fact after one drawing the starting jackpot wasn't increased at all.

              I'm sure they have something in place to cover themselves if the 5/75 +1/15 matrix doesn't slow down the top winners.

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

                Goteki54's avatar - Lottery-007.jpg
                Baltimore, MD
                United States
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                May 30, 2013
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                Posted: July 21, 2013, 5:58 pm - IP Logged

                This half baked idea by mega millions is beyond lame. For players who use systems like myself for picking numbers, now we have to worry about analysising 25 more numbers in the main pool? 75 numbers total?!! That is insane! On top of that, when the new format starts, that means all the historically data from all the drawings becomes WORTHLESS! I am done with Mega Millions. I live in Maryland. I might as well wait for the jackpot for Multi Match to get to around a million or so and play that. The odds of a 6/43 game for 2 dollars a  play is drastically beter then playing a 5/75 game just to try to win the 2nd tier prize of a million forget the jackpot.

                Following the trends and patterns means following the money!Banana

                  RJOh's avatar - chipmunk
                  mid-Ohio
                  United States
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                  Posted: July 21, 2013, 9:05 pm - IP Logged

                  This half baked idea by mega millions is beyond lame. For players who use systems like myself for picking numbers, now we have to worry about analysising 25 more numbers in the main pool? 75 numbers total?!! That is insane! On top of that, when the new format starts, that means all the historically data from all the drawings becomes WORTHLESS! I am done with Mega Millions. I live in Maryland. I might as well wait for the jackpot for Multi Match to get to around a million or so and play that. The odds of a 6/43 game for 2 dollars a  play is drastically beter then playing a 5/75 game just to try to win the 2nd tier prize of a million forget the jackpot.

                  MegaMillions have had this matrix since 06/24/05.  If you haven't won a major prize by now, maybe you are over rating the worth of historical data. 

                  Besides, most states added MM and PB when players lost interest in their local games, if you are now thinking about playing the local games more, then having MM and PB is going to finally help your state's bottom line.

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


                    United States
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                    Posted: July 22, 2013, 12:05 pm - IP Logged

                    I wonder if they buy insurance?

                    You know, like the jacuzzi retailer who tells his customers if they buy a jacuzzi between Thanksgiving and Christmas, and we get 6" of snow on New Year's Day, their jacuzzi is free.  The retailer buys insurance that pays out if it snows 6" on NYD.

                    They should make the phone call right now..............

                      ressuccess's avatar - Lottery-043.jpg

                      United States
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                      June 23, 2010
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                      Posted: July 22, 2013, 3:39 pm - IP Logged

                      Good luck to the Mega Millions participants in this updated game. However, my 2nd version of the California Super Lotto Plus contract will expire on Saturday October 19th, 2013 as part of my current event.

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                        NY
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                        Posted: July 22, 2013, 4:34 pm - IP Logged

                        Actually the starting jackpots of $12M aren't fully funded by ticket sales now which is why they are increased by so little at the begining.  In fact after one drawing the starting jackpot wasn't increased at all.

                        I'm sure they have something in place to cover themselves if the 5/75 +1/15 matrix doesn't slow down the top winners.

                        "I'm sure they have something in place to cover themselves"

                        It's a little thing called probability. Right now they typically have sales of $14 million or so for the starting jackpot, which gives them about half of what they need to fund the starting jackpot. Selling 14 million tickets resullts in about a 1 in 12.5 chance of having a winner. Taking a quick look, it seems that there have only been 2 times in the last 2 years where they had a winner on the first or second drawing of a roll.

                          Jon D's avatar - calotterylogo
                          Los Angeles, California
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                          January 5, 2011
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                          Posted: July 22, 2013, 6:20 pm - IP Logged

                          "I'm sure they have something in place to cover themselves"

                          It's a little thing called probability. Right now they typically have sales of $14 million or so for the starting jackpot, which gives them about half of what they need to fund the starting jackpot. Selling 14 million tickets resullts in about a 1 in 12.5 chance of having a winner. Taking a quick look, it seems that there have only been 2 times in the last 2 years where they had a winner on the first or second drawing of a roll.

                          There's a few other tools they can use as well.

                          PB has 2% of sales going to a reserve fund, to help cover shortages on early Jackpot wins. The new MM could also incorporate a fixed reserve percentage as well.

                          They can also increase the annuity from 26 years to 30 years to make fully funded happen earlier.

                          Currently, MM is fully funded after the 1st roll.(2nd draw) PB is fully funded after the 5th roll.(6th draw) If the new MM keeps about the same 32% of sales for Jackpot pool, and sales remain about the same, it would be fully funded at about the 6th roll.(7th draw)

                          Or if the annuity is stretched to 30 years, it would be fully funded on the 5th roll (6th draw) just like PB, at around $40M JP range.

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                            pensacola fl
                            United States
                            Member #4915
                            June 3, 2004
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                            Posted: July 22, 2013, 9:35 pm - IP Logged

                            we just got it here in fl how sad

                            hi you

                              psykomo's avatar - animal shark.jpg

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                              Posted: July 22, 2013, 10:32 pm - IP Logged

                              The overall odds of winning the game's jackpot will change to 1-in-258,890,850 from the current 1-in-175,711,536. This change is expected to lead to larger jackpot growth.  Florida finally get Mega Millions and then they decide to increase the odds. I will just stick to playing the regularFlorida Lottery games with better odds like Lotto, Mega Money and Fantasy 5.

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