Welcome Guest
Log In | Register )
You last visited December 3, 2016, 1:41 am
All times shown are
Eastern Time (GMT-5:00)

States pull the plug on Monopoly Millionaires' Club

Topic closed. 163 replies. Last post 2 years ago by Stack47.

Page 10 of 11
51
PrintE-mailLink
Taurus$'s avatar - Lottery-043.jpg
Ft. Washington, MD
United States
Member #159267
September 20, 2014
123 Posts
Offline
Posted: December 16, 2014, 10:46 pm - IP Logged

There is no money. They forked out $26.8 million for the first jackpot hit. Funds allocated to this will only total about $11.5 million by the last draw.

So no matter what, they will still be short at least $15 million. And if the jackpot miraculously gets hit on Dec. 26th.....the total deficit will be upwards of $53 million.

Makes me wonder how on earth they will pay for the TV show (if happening), or even those trips. I honestly expect someone to get fired from this Smash

Green laughSay what LM???, You really expect some folks to get fired from this fiasco? Green laugh Boy, I hadn't really thought about it. The amt of money that you stated being lost if it came to that raised my eyebrows. That is sure going to start the finger pointing at who is responsible. Another scenario is being quietly moved to another position in the company. Interesting question of how do they resolve the dilemma of paying for the tv show or the trips if it comes to that. They will be so much in the red it makes me wonder how they are going to please all sides in the train wreck coming.

    mikeintexas's avatar - tx avatar-1.gif
    Texas Panhandle
    United States
    Member #136843
    December 20, 2012
    1258 Posts
    Online
    Posted: December 16, 2014, 11:19 pm - IP Logged

    I am playing the next two draws anyway and I will be saving all my tickets for this prize run. I had the same thought about a lawsuit lol. I am not going to file it, but I while get what I can if it happens. To those that this game confused, this might be a whole new prize pool for you to not understand. I don't know about your reading comprehension level, but if you couldn't figure it out from reading the rules or even just reading your ticket, I don't know what to tell you. You might not be as smart as you thought then I guess

    Thanks for the snark.  I never said it confused me, only that it was too complicated.  (which gives me a pretty good take on YOUR reading comprehension)  I can get a Texas Lotto ticket easily enough:  "Gimme a quick pick for the Texas lotto with the extra." while slapping two bucks down on the counter and ten seconds later I'm on my way out the door.   

    Nope, never played MMC.   Since they're pulling the plug on the game, that might mean at least I was smart enough to see it wasn't worth wasting my money and time on it.

      Avatar
      Wyomissing, PA
      United States
      Member #161050
      November 15, 2014
      301 Posts
      Offline
      Posted: December 16, 2014, 11:36 pm - IP Logged

      There is no money. They forked out $26.8 million for the first jackpot hit. Funds allocated to this will only total about $11.5 million by the last draw.

      So no matter what, they will still be short at least $15 million. And if the jackpot miraculously gets hit on Dec. 26th.....the total deficit will be upwards of $53 million.

      Makes me wonder how on earth they will pay for the TV show (if happening), or even those trips. I honestly expect someone to get fired from this Smash

      While it's highly unlikely the "top prize" will be hit in either of the next two drawings, imagine if it was hit in both ... the losses could be even more!

      As for talk of litigation, ditto on what others have posted - save those MMC tickets. Class-actions take years, so plan on retaining those tickets indefinitely. Yes, really that long. For example, I recently received a class-action settlement letter that I potentially qualified for $15 for due to purchasing a computer back around 2002; upwards of 12 years ago. I'd imagine most MMC ticket-holders would likely win about that much in a class-action, and likely in the form of coupons.

      The 250+ Vegas trip winners, chosen in early December, are the ones who could really lose out, possibly leading to viable, possible class-action, litigation. Will be interesting to see how MMC lottery officials handle the Vegas trip winners situation...

      I have a bad feeling they're going to hold a mock show anyways that's not widely televised, if at all, with the winners likely winning little to nothing - and that's even more possible, since the exact format and rules of the show has never been publicly revealed; still a work in progress - that alone could open the door to litigation. MMC participating jurisdictions are selling tickets widely touting the Vegas tv show, and yet seemingly haven't finalized how it operates. Sure, MMC lottery officials may claim millions of dollars could be awarded on the show, but maybe not; lack of transparency.

        RL-RANDOMLOGIC's avatar - usafce

        United States
        Member #59354
        March 13, 2008
        3962 Posts
        Offline
        Posted: December 16, 2014, 11:55 pm - IP Logged

        How lucky can on be, the ticket no one wanted.

        RL

         

        http://www.molottery.com/media/news_release.jsp?articleId=6136

        Working on my Ph.D.  "University of hard Knocks"

        I will consider the opinion that my winnings are a product of chance if you are willing to consider

        they are not.  Many great discoveries come while searching for something else

        USAF https://en.wikipedia.org/wiki/Prime_Base_Engineer_Emergency_Force

          US Flag Trump / 2016 & 2020  

          Avatar

          United States
          Member #161539
          December 3, 2014
          328 Posts
          Offline
          Posted: December 17, 2014, 9:42 am - IP Logged

          How lucky can on be, the ticket no one wanted.

          RL

           

          http://www.molottery.com/media/news_release.jsp?articleId=6136

          Good story ... thanks for posting ... haven't heard much about any of those million dollars winners. Glad he was lucky to win something before the turkey game ends.

          I've read stories before about "mistake tickets" ... sometimes they pay off, sometimes not.

          CW

            Avatar
            NY
            United States
            Member #23835
            October 16, 2005
            3474 Posts
            Offline
            Posted: December 17, 2014, 11:01 am - IP Logged

            Just my two cents on anyone playing the MM game this Friday or next Friday (Dec 26th) ... the last drawing.

            I would save all my tickets for six months to a year ... someone may file a class action lawsuit against the organization and states running this game and the fact that they didn't award any of the money with the last drawing ... to "empty" out the pot ... money that has been building ... on the last drawing (Dec 26) there should be 22 possible millionaires, if the $25 million is not hit this Friday (Dec 19).

            It's not our problem (the players) that they have no money in the "pot" to pay anybody. They had no problem selling us $5 tickets with the hope that no one would win the higher amount and the one million dollar prizes.

            I have no clue if this scenario could happen ... a class action lawsuit against the game and various lotteries involved ... but to be on the safe side, I would hold your last $5 tickets for awhile, put them away somewhere ... it would be the only way to "prove" that you had indeed played or bought a ticket for the last drawings to be part of the lawsuit ... if someone somewhere should start one.

            As I said earlier, I don't know if this would even be possible but with the large amount of money involved, it might interest a few lawyers to look into things.

            My thoughts only ...

            "I would save all my tickets for six months to a year ... someone may file a class action lawsuit against the organization and states running this game and the fact that they didn't award any of the money with the last drawing"

            Since there's no shortage of idiots (or lawyers who will take their case) it's possible, but what's the argument? That they canceled the game without giving money to all the people who had losing tickets? People bought tickets and got exactly the chance at winning that they were offered. Somebody won a jackpot, and when that happened the lottery paid out a bunch of $1 million prizes exactly like they said they would.

              Avatar

              United States
              Member #161539
              December 3, 2014
              328 Posts
              Offline
              Posted: December 17, 2014, 11:40 am - IP Logged

              Well being in PA ... some years back there was a jackpot game that was a turkey in PA ... it may have lasted close to two years before the lottery decided to end it ... it was not very popular. Since a sizable jackpot had built up ... the lottery announced that if no one hit the jackpot on the final drawing they would apply the jackpot money to the various lower tier prizes.

              The PA Lottery could have kept the money but they gave the jackpot money away in the final drawing to the players with 2nd, 3rd, 4th prizes ... how far down they went, I don't remember but they emptied the pot with people getting more money ... needless to say a lot of "extra" tickets were sold for that last drawing.

              My thoughts are that there is a cash value to the $25 million prize and be 22 possible millionaires. The money is supposed to be there to cover those winnings ... if the pot is empty ... too bad.

              Show me the money !!! ... at least award all those big Monopoly Hats !!! Where are all those hats headed ... to be sold on eBay ??? Must be boxes of them somewhere.

              They ended the game early and the final draw should see the bulit up cash money given away ... let the states all chip in ... they signed on ... maybe next time they will think things out a little better.

              CW

                Avatar

                United States
                Member #161539
                December 3, 2014
                328 Posts
                Offline
                Posted: December 17, 2014, 12:07 pm - IP Logged

                While it's highly unlikely the "top prize" will be hit in either of the next two drawings, imagine if it was hit in both ... the losses could be even more!

                As for talk of litigation, ditto on what others have posted - save those MMC tickets. Class-actions take years, so plan on retaining those tickets indefinitely. Yes, really that long. For example, I recently received a class-action settlement letter that I potentially qualified for $15 for due to purchasing a computer back around 2002; upwards of 12 years ago. I'd imagine most MMC ticket-holders would likely win about that much in a class-action, and likely in the form of coupons.

                The 250+ Vegas trip winners, chosen in early December, are the ones who could really lose out, possibly leading to viable, possible class-action, litigation. Will be interesting to see how MMC lottery officials handle the Vegas trip winners situation...

                I have a bad feeling they're going to hold a mock show anyways that's not widely televised, if at all, with the winners likely winning little to nothing - and that's even more possible, since the exact format and rules of the show has never been publicly revealed; still a work in progress - that alone could open the door to litigation. MMC participating jurisdictions are selling tickets widely touting the Vegas tv show, and yet seemingly haven't finalized how it operates. Sure, MMC lottery officials may claim millions of dollars could be awarded on the show, but maybe not; lack of transparency.

                Yes you are correct, it could take years if any class action would ever be started ... I also have paperwork showing up years after I forgot about a stock or product that I had bought.

                So now the problem with saving those tickets becomes ... will they actually survive for years and still be readable in 10 or 15 years ?

                The ink on lottery tickets is different from the ink of early years ... the ink that Ben Franklin used still survives over 200 + years till today ... don't count on those lottery tickets lasting much at all ... if you stick some old "no good" lottery tickets in front of a heater ... watch the printing disappear right before your eyes!

                So now we have to go one step further to protect our tickets for the civil action lawsuit ... we must all go to a copier at the local hardware store or Post Office and make copies of our tickets ... this is getting more complicated by the hour!

                GLTA ... preserve those tickets.

                CW

                  Avatar
                  Wyomissing, PA
                  United States
                  Member #161050
                  November 15, 2014
                  301 Posts
                  Offline
                  Posted: December 17, 2014, 1:02 pm - IP Logged

                  Many jackpot games don't take in enough to cover the initial jackpot. Pretty sure this is true with both PB and MM. Roll-overs are critical for profitability, since such games are designed to initially run in the red. Monopoly Millionaires Club required both high levels of sales from the get-go along with numerous, consecutive "top prize" roll-overs.

                  Even with a decent level of play, MMC financials were going to be dicey - their sales projections were far too optimistic. And also, in my view, faulty assumption the high "top prize" odds of roughly 1 in 73 million would protect them from early hits; MMC needs upwards of a dozen roll-overs, which is a lot. Makes one wonder if lottery officials ever looked at PB and MM jackpot history to see that even with just a few percent of the combinations played, there can still be a relatively high number of early jackpot hits.

                  In short, MMC started in the red, and has continued to get deeper, though the recent drawings with no "top prize" winners are helping to reduce the funding short-fall.

                  With that said, I'm with you ... if no "top prize" winner on the 26th, MMC should still payout something extra for the final draw. Be a nice gesture, and to regain some goodwill, which MUSL and participating jurisdictions will need going forward to offset the perception of ripoff and fraud - especially in light of talk of a replacement MMC game and changes to Powerball.

                  Good point about safeguarding the tickets; keeping away from light and heat. The cheap ink and paper used now doesn't hold up as well those used for tickets of yesteryear. I found some old PA Lottery tickets in a box from the late 80s that look like new. To digress a bit, those older PA tickets have a nice colored header depicting various PA historical scenes, and the play numbers are printed neatly on the ticket. The new tickets are basically black and white with the numbers printed randomly somewhere on the receipt thin paper.

                  As for the top hats, they should randomly mail out the remaining supply to participants who have established an on-line second chance MMC account. My guess is there aren't that many extra hats, and those that do exist may go to lottery officials and other various lottery insiders; might be the only bonus some get this year with the way things have been going.

                    LottoMetro's avatar - Lottery-024.jpg
                    Happyland
                    United States
                    Member #146344
                    September 1, 2013
                    1129 Posts
                    Offline
                    Posted: December 17, 2014, 1:23 pm - IP Logged

                    Many jackpot games don't take in enough to cover the initial jackpot. Pretty sure this is true with both PB and MM. Roll-overs are critical for profitability, since such games are designed to initially run in the red. Monopoly Millionaires Club required both high levels of sales from the get-go along with numerous, consecutive "top prize" roll-overs.

                    Even with a decent level of play, MMC financials were going to be dicey - their sales projections were far too optimistic. And also, in my view, faulty assumption the high "top prize" odds of roughly 1 in 73 million would protect them from early hits; MMC needs upwards of a dozen roll-overs, which is a lot. Makes one wonder if lottery officials ever looked at PB and MM jackpot history to see that even with just a few percent of the combinations played, there can still be a relatively high number of early jackpot hits.

                    In short, MMC started in the red, and has continued to get deeper, though the recent drawings with no "top prize" winners are helping to reduce the funding short-fall.

                    With that said, I'm with you ... if no "top prize" winner on the 26th, MMC should still payout something extra for the final draw. Be a nice gesture, and to regain some goodwill, which MUSL and participating jurisdictions will need going forward to offset the perception of ripoff and fraud - especially in light of talk of a replacement MMC game and changes to Powerball.

                    Good point about safeguarding the tickets; keeping away from light and heat. The cheap ink and paper used now doesn't hold up as well those used for tickets of yesteryear. I found some old PA Lottery tickets in a box from the late 80s that look like new. To digress a bit, those older PA tickets have a nice colored header depicting various PA historical scenes, and the play numbers are printed neatly on the ticket. The new tickets are basically black and white with the numbers printed randomly somewhere on the receipt thin paper.

                    As for the top hats, they should randomly mail out the remaining supply to participants who have established an on-line second chance MMC account. My guess is there aren't that many extra hats, and those that do exist may go to lottery officials and other various lottery insiders; might be the only bonus some get this year with the way things have been going.

                    Everyone anticipated that the game would run in the red from the start, because not all the lotteries were participating. The expectation was that sales would be able to support minimal drawdowns until January, and then the additional contributions would boost the game to success. Unfortunately, as you mentioned, they overestimated sales altogether. I actually know who "modeled" the game (I won't divulge him for privacy), but I am sure he and especially the marketing research team has been getting an earful. Not to sound like a broken record but any statistician with common sense would've been suspicious of what was implied for sales. They can blame "political season" and other factors all they want, but the reality is their assumptions were flawed and research skewed.

                    As for the top hats, they should randomly mail out the remaining supply to participants who have established an on-line second chance MMC account. My guess is there aren't that many extra hats, and those that do exist may go to lottery officials and other various lottery insiders; might be the only bonus some get this year with the way things have been going.

                    The hats are produced on demand by a private company and personalized to each winner (i.e. embroidered with their name). So there is no surplus, and they certainly wouldn't give them away for free (retail value of $100, no idea of actual cost). Sorry, but nobody is getting a consolation prize LOL

                    If the chances of winning the jackpot are so slim, why play when the jackpot is so small? Your chances never change, but the potential payoff does.
                    If a crystal ball showed you the future of the rest of your life, and in that future you will never win a jackpot, would you still play?

                    2016: -48.28% (13 tickets) ||
                    P&L % = Total Win($)/Total Wager($) - 1

                      Avatar

                      United States
                      Member #161539
                      December 3, 2014
                      328 Posts
                      Offline
                      Posted: December 17, 2014, 1:32 pm - IP Logged

                      Many jackpot games don't take in enough to cover the initial jackpot. Pretty sure this is true with both PB and MM. Roll-overs are critical for profitability, since such games are designed to initially run in the red. Monopoly Millionaires Club required both high levels of sales from the get-go along with numerous, consecutive "top prize" roll-overs.

                      Even with a decent level of play, MMC financials were going to be dicey - their sales projections were far too optimistic. And also, in my view, faulty assumption the high "top prize" odds of roughly 1 in 73 million would protect them from early hits; MMC needs upwards of a dozen roll-overs, which is a lot. Makes one wonder if lottery officials ever looked at PB and MM jackpot history to see that even with just a few percent of the combinations played, there can still be a relatively high number of early jackpot hits.

                      In short, MMC started in the red, and has continued to get deeper, though the recent drawings with no "top prize" winners are helping to reduce the funding short-fall.

                      With that said, I'm with you ... if no "top prize" winner on the 26th, MMC should still payout something extra for the final draw. Be a nice gesture, and to regain some goodwill, which MUSL and participating jurisdictions will need going forward to offset the perception of ripoff and fraud - especially in light of talk of a replacement MMC game and changes to Powerball.

                      Good point about safeguarding the tickets; keeping away from light and heat. The cheap ink and paper used now doesn't hold up as well those used for tickets of yesteryear. I found some old PA Lottery tickets in a box from the late 80s that look like new. To digress a bit, those older PA tickets have a nice colored header depicting various PA historical scenes, and the play numbers are printed neatly on the ticket. The new tickets are basically black and white with the numbers printed randomly somewhere on the receipt thin paper.

                      As for the top hats, they should randomly mail out the remaining supply to participants who have established an on-line second chance MMC account. My guess is there aren't that many extra hats, and those that do exist may go to lottery officials and other various lottery insiders; might be the only bonus some get this year with the way things have been going.

                      I agree, the Monopoly game officials were probably on the floor with oxygen being administered when they learned some one had hit a Monopoly jackpot so soon.

                      I realize the pot may be empty but that's the breaks ... sometimes a person has a nice walk in the forest and sometimes a tree falls on them !!! ... it's a nice lesson for anybody thinking of starting their own lottery.

                      I think fair punishment or shame would be for all top dog lottery officials to have to wear one of those big black Monopoly hats for a month around the office and in public eating at a restaurant.

                      CW

                        Avatar
                        NEW YORK
                        United States
                        Member #90535
                        April 29, 2010
                        11974 Posts
                        Offline
                        Posted: December 17, 2014, 3:08 pm - IP Logged

                        I agree, the Monopoly game officials were probably on the floor with oxygen being administered when they learned some one had hit a Monopoly jackpot so soon.

                        I realize the pot may be empty but that's the breaks ... sometimes a person has a nice walk in the forest and sometimes a tree falls on them !!! ... it's a nice lesson for anybody thinking of starting their own lottery.

                        I think fair punishment or shame would be for all top dog lottery officials to have to wear one of those big black Monopoly hats for a month around the office and in public eating at a restaurant.

                        CW

                        New Jersey jackpot winner only spent $5 for a single line. It was a Quick Pick ticket. He spent the minimum.

                        US Flag

                        PLAY THE LOTTERY SOMEDAY-IT IS OKAY TO DREAM!

                          Avatar

                          United States
                          Member #161539
                          December 3, 2014
                          328 Posts
                          Offline
                          Posted: December 17, 2014, 3:19 pm - IP Logged

                          Everyone anticipated that the game would run in the red from the start, because not all the lotteries were participating. The expectation was that sales would be able to support minimal drawdowns until January, and then the additional contributions would boost the game to success. Unfortunately, as you mentioned, they overestimated sales altogether. I actually know who "modeled" the game (I won't divulge him for privacy), but I am sure he and especially the marketing research team has been getting an earful. Not to sound like a broken record but any statistician with common sense would've been suspicious of what was implied for sales. They can blame "political season" and other factors all they want, but the reality is their assumptions were flawed and research skewed.

                          As for the top hats, they should randomly mail out the remaining supply to participants who have established an on-line second chance MMC account. My guess is there aren't that many extra hats, and those that do exist may go to lottery officials and other various lottery insiders; might be the only bonus some get this year with the way things have been going.

                          The hats are produced on demand by a private company and personalized to each winner (i.e. embroidered with their name). So there is no surplus, and they certainly wouldn't give them away for free (retail value of $100, no idea of actual cost). Sorry, but nobody is getting a consolation prize LOL

                          Now ain't that a crock ... no surplus of Monopoly hats ! ... first we hear there's no prize money in the pot now we learn that the hats pretty much don't exist either ... only on demand!

                          Well these Monopoly lottery people took us all for suckers ... figuring they didn't need any prize money to hand out any time soon ... and then went "skimpy" on the hats ... also figuring they wouldn't need too many to hand out.

                          This turkey has more feathers than a real turkey.

                          CW

                            Avatar
                            NEW YORK
                            United States
                            Member #90535
                            April 29, 2010
                            11974 Posts
                            Offline
                            Posted: December 17, 2014, 3:42 pm - IP Logged

                            How lucky can on be, the ticket no one wanted.

                            RL

                             

                            http://www.molottery.com/media/news_release.jsp?articleId=6136

                            $5 TURNED INTO $1,000,000 BEFORE TAXES.

                            US Flag

                            PLAY THE LOTTERY SOMEDAY-IT IS OKAY TO DREAM!

                              Avatar
                              NEW YORK
                              United States
                              Member #90535
                              April 29, 2010
                              11974 Posts
                              Offline
                              Posted: December 17, 2014, 3:54 pm - IP Logged

                              Idea  With the new touch screens they should sell scratch offs online and you can scratch them right on the screen.

                              I DO NOT PLAY INSTANT SCRATCH OFF LOTTERY GAMES.

                              US Flag

                              PLAY THE LOTTERY SOMEDAY-IT IS OKAY TO DREAM!

                                 
                                Page 10 of 11