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Powerball changing in October to generate bigger jackpots

Topic closed. 96 replies. Last post 1 year ago by haymaker.

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hearsetrax's avatar - 0118

United States
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May 21, 2007
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Posted: July 9, 2015, 12:31 pm - IP Logged

Jack-in-the-BoxThese jokers must think that we the players, are a bunch of suckers. They keep jacking up the odds and we keep playing regardless. Try playing your local p5 games. There is a lot of money to be made in p5 if you don't mind six figure jackpots. If you are hell-bent on playing only those monster seven figure and up jackpots, it stands to reason that these jokers are right when they call you SUCKERRRRR.

    RJOh's avatar - chipmunk
    mid-Ohio
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    March 24, 2001
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    Posted: July 9, 2015, 12:53 pm - IP Logged

    "The proposed rule is intended to increase the odds of winning any prize while decreasing the odds to win the jackpot," said Robert Williams, executive director of the state Gaming Commission.

    It's obvious the majority of PB players are purchasing 1 or 2 tickets hoping to win the jackpot or the secondary prize and I really doubt having slightly better odds of cashing $4 will entice them to purchase more tickets.

    They know that and they also know when the jackpot gets large enough most of those players will say "what an extra dollar or two?" and buy a few more just before the drawing, that's what Gloria of Florida was doing when she stepped to the front of the line to buy her winning ticket. 

    Lately PB sales haven't been enough to exceed the guaranteed minimum jackpot before they are won, they're hoping that will change with the new matrix.

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

      Saylorgirl's avatar - Lottery-065.jpg
      Indiana
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      June 13, 2012
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      Posted: July 9, 2015, 1:36 pm - IP Logged

      For me I don't care that they made some of the smaller prizes easier to win. Most people I know, including me, don't play PB or MM for the lower prizes. The fact that they made it way harder to win the jackpot and second  prize really sucks. I'm sure most players won't care, but this isn't going to encourage me to play more.

      I agree 100% I am only playing for the jackpot1  Winning a couple of dollars doesn't make me feel like a "winner"!  LOL!

        haymaker's avatar - Lottery-012.jpg
        Egg Harbor twp.south Jersey shore
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        Posted: July 9, 2015, 1:47 pm - IP Logged

        I'm doing well haymaker thanks for asking. Fortunately I'm still employed full time despite Obamacare.

        I didn't realize about DE being anonymous. I understand now.

        Did you have a nice 4th of July? I was at the Oceanfest fireworks in Long Branch. A good time was had by all and the weather cooperated. Smile

        Live music all day, delicious fattening foods and girls walking around all day long in their underwear. God Bless America!

          oceanfest

        I spent the 4th at my backyard party,

        no fireworks, but back in the woods...firearms make lots of noise. LOL

        Extraordinary Popular Delusions & the Madness of Crowds    -- Charles Mackay  LL.D.

          Lucky Loser's avatar - bucks
          Texas
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          Posted: July 9, 2015, 1:54 pm - IP Logged

          They know that and they also know when the jackpot gets large enough most of those players will say "what an extra dollar or two?" and buy a few more just before the drawing, that's what Gloria of Florida was doing when she stepped to the front of the line to buy her winning ticket. 

          Lately PB sales haven't been enough to exceed the guaranteed minimum jackpot before they are won, they're hoping that will change with the new matrix.

          Lately PB sales haven't been enough to exceed the guaranteed minimum jackpot before they are won, they're hoping that will change with the new matrix.

           

          Point understood but prolly won't be accepted by the majority of players. It's an oxymoron, to me at least, with promoting the intent of more money via smaller prizes. BUT, increasing the main field of numbers WHICH STILL MAKES WINNING THOSE SAME SMALLER PRIZES JUST THAT MUCH HARDER. As always, they're dangling more $$$$ to be won by players while MINIMIZING THE DECREASE IN ODDS. Screw the PB number, DECREASE THE CURRENT MAIN FIELD OF NUMBERS and help players win the current small prizes MORE FREQUENTLY. This, in turn, WILL CAUSE MORE PLAYERS TO PLAY MORE FREQUENTLY AND THEY'LL STILL MAKE MONEY IN THE END DUE TO SUPPLY (X's) VELOCITY. This formula has never failed and never will...yet they avoid it. Here's a darn good read and PLEASE read the comments below it...smart people.

          http://www.msn.com/en-us/money/markets/dollar1-billion-powerball-jackpot-is-coming/ar-AAcJVlc?ocid=iehp

           

           

          L.L.

          Small games, frequent wins, and regular payouts 'cause.....

          There are seven days in the week...'Someday' isn't one of them.

          #lotto-4-a-living

            rcbbuckeye's avatar - Lottery-043.jpg
            Texas
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            October 23, 2007
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            Posted: July 9, 2015, 2:03 pm - IP Logged

            Lately PB sales haven't been enough to exceed the guaranteed minimum jackpot before they are won, they're hoping that will change with the new matrix.

             

            Point understood but prolly won't be accepted by the majority of players. It's an oxymoron, to me at least, with promoting the intent of more money via smaller prizes. BUT, increasing the main field of numbers WHICH STILL MAKES WINNING THOSE SAME SMALLER PRIZES JUST THAT MUCH HARDER. As always, they're dangling more $$$$ to be won by players while MINIMIZING THE DECREASE IN ODDS. Screw the PB number, DECREASE THE CURRENT MAIN FIELD OF NUMBERS and help players win the current small prizes MORE FREQUENTLY. This, in turn, WILL CAUSE MORE PLAYERS TO PLAY MORE FREQUENTLY AND THEY'LL STILL MAKE MONEY IN THE END DUE TO SUPPLY (X's) VELOCITY. This formula has never failed and never will...yet they avoid it. Here's a darn good read and PLEASE read the comments below it...smart people.

            http://www.msn.com/en-us/money/markets/dollar1-billion-powerball-jackpot-is-coming/ar-AAcJVlc?ocid=iehp

             

             

            L.L.

            Not too sure about that. It takes several draws before sales are enough to actually fund the jackpots.

            They tried to address the crowd that wanted several millionaires that didn't believe "anyone needs millions, only a million dollars". That didn't work out too well. One thing I've learned in retail is that people always say one thing and do the exact opposite.

            Not trying to defend what they're doing, but totally understand. But then, I'm also one of those that plays every draw, and while I would love to hit the jackpot, hitting second prize, especially MM with megaplier, would be just fine also. Those odds are still lower than Texas Lotto.

            CAN'T WIN IF YOU'RE NOT IN

            A DOLLAR AND A DREAM (OR $2)

              Avatar

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              Posted: July 9, 2015, 2:13 pm - IP Logged

              I would like to know how this revision is going into place in October when it was previously rumored to be happening back in April.  Was that rumor entirely false?  Did they need more time to consider the change?  What?!

                Lucky Loser's avatar - bucks
                Texas
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                Posted: July 9, 2015, 2:45 pm - IP Logged

                Not too sure about that. It takes several draws before sales are enough to actually fund the jackpots.

                They tried to address the crowd that wanted several millionaires that didn't believe "anyone needs millions, only a million dollars". That didn't work out too well. One thing I've learned in retail is that people always say one thing and do the exact opposite.

                Not trying to defend what they're doing, but totally understand. But then, I'm also one of those that plays every draw, and while I would love to hit the jackpot, hitting second prize, especially MM with megaplier, would be just fine also. Those odds are still lower than Texas Lotto.

                Oh, I definitely understand what they're trying to convey here but, is it not an increasing progression of failure at some point? I mean, I can respect players like yourself who are only looking for a cool second tier prize plus maybe the multiplier and you're as happy as a pig in a mud bath. However, by increasing the field, they can surely increase the second tier prize but it also makes it just that much harder to win it...it's still progressive. Sure, the difference in odds for a 2nd tier prize on MM's 5+0 and Lotto Texas 1st prize is 7,334,961 but, there will be (15) LESS NUMBERS to choose from and it'll still COST LESS with Texas Lotto. Unlike you, so many people are engulfed with all the multi- millions when much, much less can fix everything in their lives..with proper management on their part.

                 

                These people aren't out to make it easier for us to win, only harder. So, it takes several draws before they actually have enough to fund the jackpots? Is this even when no one wins or just when someone FINALLY WINS? Trust me, if they had more $$$ flowing through the stores, they'd have no issue with generating the funds needed to payout. Does a restaurant owner increase his money velocity by raising prices on his food all the time? Does a department store increase velocity by having sales on their merchandise or by raising the prices on everything all the time? Why is it that lotteries cannot have 'sales' on their ticket prices on certain occasions in an effort to increase sales while giving the people KEEPING THEM IN BUSINESS MORE BANG FOR THEIR BUCK? You and I own the lotteries, you know that right? If no one plays, they have no money to pay out and, likewise, we have no lottery to play. Hey, if I call the shots, then I think more people need to win smaller prizes with better odds in the MAIN FIELD while still making the jackpot not so easy to win. You increase people's hopes of winning BIG by allowing them to win SMALL MORE OFTEN...in my opinion. Great post, dude.

                 

                L.L.

                Small games, frequent wins, and regular payouts 'cause.....

                There are seven days in the week...'Someday' isn't one of them.

                #lotto-4-a-living

                  rcbbuckeye's avatar - Lottery-043.jpg
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                  Posted: July 9, 2015, 2:58 pm - IP Logged

                  I would like to know how this revision is going into place in October when it was previously rumored to be happening back in April.  Was that rumor entirely false?  Did they need more time to consider the change?  What?!

                  It was originally scheduled for April but pushed back to October.

                  CAN'T WIN IF YOU'RE NOT IN

                  A DOLLAR AND A DREAM (OR $2)

                    RJOh's avatar - chipmunk
                    mid-Ohio
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                    Posted: July 9, 2015, 3:58 pm - IP Logged

                    Not too sure about that. It takes several draws before sales are enough to actually fund the jackpots.

                    They tried to address the crowd that wanted several millionaires that didn't believe "anyone needs millions, only a million dollars". That didn't work out too well. One thing I've learned in retail is that people always say one thing and do the exact opposite.

                    Not trying to defend what they're doing, but totally understand. But then, I'm also one of those that plays every draw, and while I would love to hit the jackpot, hitting second prize, especially MM with megaplier, would be just fine also. Those odds are still lower than Texas Lotto.

                    "Those odds are still lower than Texas Lotto."

                    The odds of winning a million dollars cash for both MM and PB are better than most state lotteries when they first start out.  State lotteries usually start out with a million dollars annuity which has a cash value of a lesser amount with odds of 1:14M for a 6/49 game or worst until the jackpot have time to build up.  I'm sure states would be happy if players chose their game instead of PB or MM but I doubt if that's going to happen.

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

                      rcbbuckeye's avatar - Lottery-043.jpg
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                      Posted: July 9, 2015, 5:12 pm - IP Logged

                      "Those odds are still lower than Texas Lotto."

                      The odds of winning a million dollars cash for both MM and PB are better than most state lotteries when they first start out.  State lotteries usually start out with a million dollars annuity which has a cash value of a lesser amount with odds of 1:14M for a 6/49 game or worst until the jackpot have time to build up.  I'm sure states would be happy if players chose their game instead of PB or MM but I doubt if that's going to happen.

                      The cash payout for Tx lotto is 9.44 million for Saturday night. That's a pretty good chunk of change and I've got 2 tics on it. But the odds are 1 in 25,827,165.

                      I've got 1 tic on MM with megaplier. Second prize would be 2 million to 5 million with odds of 1 in 18,492,204. Either one is good enough to say goodbye to the furniture biz.

                      CAN'T WIN IF YOU'RE NOT IN

                      A DOLLAR AND A DREAM (OR $2)

                        Guru101's avatar - rw6jhh
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                        Posted: July 9, 2015, 7:16 pm - IP Logged

                        Hoosier Lotto is the perfect game for me. 1 in 12 million to win a few million, which I'll spread over 30 years and live a comfortable lifestyle is way better than this PB and MM nonsense.

                        Gonna win.Big Smile

                          Arrowhead's avatar - underground
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                          Posted: July 9, 2015, 7:48 pm - IP Logged

                          National lotteries have become a sick joke and a fool's errand.

                          Sticking to state play---Ohio at $7 mil, Michigan (live few miles from state line and a carryout) at 11.750 or something. And not with odds that are worse than being hit by lightening 10 times in 10 hours.

                            Saylorgirl's avatar - Lottery-065.jpg
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                            Posted: July 9, 2015, 8:24 pm - IP Logged

                            Hoosier Lotto is the perfect game for me. 1 in 12 million to win a few million, which I'll spread over 30 years and live a comfortable lifestyle is way better than this PB and MM nonsense.

                            The problem with the Hoosier lottery it takes forever for it to even get to a reasonable amount.  Increasing by only 200,000 or 300,000 a drawn doesn't make it worth paying.  I don't jump in until it goes over 10,000,000 and that takes months to get there with a starting jackpot of only 1,000,000.

                              LottoMetro's avatar - Lottery-024.jpg
                              Happyland
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                              Posted: July 9, 2015, 8:53 pm - IP Logged

                              I would like to know how this revision is going into place in October when it was previously rumored to be happening back in April.  Was that rumor entirely false?  Did they need more time to consider the change?  What?!

                              Very original date was April. They even started the process of notifying retailers etc.

                              Then, if you recall (last year), Monopoly Millionaires' Club played out as a disaster. It was for THIS reason (regardless of what lottery officials may say publicly) that they decided to push back the launch to July so they could do more market research etc. and validate their plans before jumping in head-first. Basically, they got scared. The July date was then removed altogether, because surveys indicated that players would be confused with the proposed matrix (hmm...sound familiar?). Several lottery directors were so frustrated that they even dismissed the idea of the matrix changing whatsoever this year. However, they couldn't bear the poor sales much longer (if I am not mistaken, at least one state is still leaving PB) so they decided to take action and essentially proposed only a slightly-tweaked version of the current matrix, laying months and months of research and discussion for a new matrix to waste. It's almost humorous. These lotteries spend thousands of dollars on travel, lodging, and conference fees to send their employees to multiple forums every year; lots of deep discussion takes place but the end result is never really what gets talked about the majority of the time at these places. Your dollars hard at work

                              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