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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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HoLeeKau's avatar - YheaShea
Idaho
United States
Member #94283
July 17, 2010
2284 Posts
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Posted: July 9, 2015, 9:12 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.

Unfortunately my state's highest payout is $52K, taxes paid.  I think that's around $67K gross, and the tickets cost $2 each.  Not worth it!


    United States
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    May 30, 2015
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    Posted: July 9, 2015, 9:20 pm - IP Logged

    yikes, pretty cut, but i'd still go for it :).

     

    in my math, 2<50k  ^.^

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      New Jersey
      United States
      Member #21206
      September 4, 2005
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      Posted: July 9, 2015, 9:37 pm - IP Logged

      Well you have to hand it to the Powerball people, and their sense of unconventional marketing.    First they double the price of a commodity, their ticket, while reducing its value.    Then they act surprised when sales fall.   In order to address the falling sales, they announce that they are going to reduce the value of the product even more.

      They're definitely geniuses over there.

      Overall, the general trend here, it it's representative, is that people are going to play less often.     After five years of rollovers without a single winner, I'm sure the jackpot will rise to something like $250,000,000 annuity (with interest rates hitting 15%) raising, maybe, an iota of excitement.

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        Kentucky
        United States
        Member #32652
        February 14, 2006
        7297 Posts
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        Posted: July 9, 2015, 11:13 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.

        Having runs of 5 + 0 winners is why they raised the numbers to 69. The smaller volume lotteries will sleep better at night by raising the odds to 11.2 million to 1.


          United States
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          Posted: July 10, 2015, 9:24 am - IP Logged

          They had to change the matrix in order for the game to survive.

          It's WAY TOO EASY for some to win and PB is in serious danger of going bankrupt.  RJoh even noted that.

          I STILL don't think it's going to be hard enough!  Jack it up to 99 white balls!

            golfer1960's avatar - Lottery-003.jpg
            Eatontown, NJ
            United States
            Member #119670
            November 29, 2011
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            Posted: July 10, 2015, 10:54 am - IP Logged

            Didn't Powerball try this trick back in 2012?

            They increased the numbers to be picked which raised the odds. They raised the price which raised my stress level. It's still not enough? Powerball has higher jackpots and more winners than Mega Millions and they still want to change it? I don't get it.

            According to my calculations in 2012 there was 15 Powerball Jackpots won to 13 Mega Millions.

            In 2013, there were 13 Powerball Jackpots won to 11 Mega Millions.

            In 2014, there was 11 Powerball jackpots hit to only 9 Mega Millions.

            In 2015, thus far Powerball leads with 9 jackpots hit to only 4 by Mega Millions.

            Still both games have had gigantic jackpot wins but it's inevitable that smaller jackpots are going to get hit. 

            So in my opinion, Powerball has been MORE successful because they have created "more" millionaires and "higher jackpots" than Mega Millions.

            I think Powerball is over reacting. Roll back the price to $1.00 and more people would play (I think). Leave the odds where they are.

            The jackpots that have been hit over $100M are as follows:

            2012 - Powerball - $580M, $337M, $336M, $241M, $202M.

            2012 - Mega Millions - $656M, $120M, and $118M.

            2013 - Powerball - $591M, $448M, $399M, $338M, $217M, $216M, $131M, $130M, $122M.

            2013 - Mega Millions - $648M, $198M and $189M.

            2014 - Powerball - $425M, $259M, $225M, $208M, $150M, $124M.

            2014 - Mega Millions - $414M, $326M, $180M, and $149M.

            Thus far in 2015:

            2015 - Powerball - $564M, $188M, $137M.

            2015 - Mega Millions - $265M, $260M and $127M.

            When you see it laid out in this fashion doesn't it seem unnecessary to change the game? Powerball odds are 1: 175M while Mega Millions are 1:258M.

            I say leave it alone. Even with a $2.00 price Powerball produces more winners and higher jackpots than Mega Millions.

            No?

              Guru101's avatar - rw6jhh
              Indiana
              United States
              Member #48725
              January 7, 2007
              1953 Posts
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              Posted: July 10, 2015, 7:17 pm - IP Logged

              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.

              I play Hoosier Lotto even at a million dollars.

              Here are the 30 annuity payments for $1M, $2M, and $3M:

              01) 17,830.10
              02) 18,543.30
              03) 19,285.04
              04) 20,056.44
              05) 20,858.69
              06) 21,693.04
              07) 22,560.76
              08) 23,463.19
              09) 24,401.72
              10) 25,377.79
              11) 26,392.90
              12) 27,448.62
              13) 28,546.56
              14) 29,688.43
              15) 30,875.96
              16) 32,111.00
              17) 33,395.44
              18) 34,731.26
              19) 36,120.51
              20) 37,565.33
              21) 39,067.94
              22) 40,630.66
              23) 42,255.89
              24) 43,946.12
              25) 45,703.97
              26) 47,532.13
              27) 49,433.41
              28) 51,410.75
              29) 53,467.18
              30) 55,605.86
              Total: $1,000,000.00

              01) 35,660.20
              02) 37,086.61
              03) 38,570.07
              04) 40,112.87
              05) 41,717.39
              06) 43,386.08
              07) 45,121.53
              08) 46,926.39
              09) 48,803.44
              10) 50,755.58
              11) 52,785.80
              12) 54,897.24
              13) 57,093.13
              14) 59,376.85
              15) 61,751.93
              16) 64,222.00
              17) 66,790.88
              18) 69,462.52
              19) 72,241.02
              20) 75,130.66
              21) 78,135.89
              22) 81,261.32
              23) 84,511.77
              24) 87,892.24
              25) 91,407.93
              26) 95,064.25
              27) 98,866.82
              28) 102,821.50
              29) 106,934.35
              30) 111,211.73
              Total: $2,000,000.00

              01) 53,490.30
              02) 55,629.91
              03) 57,855.11
              04) 60,169.31
              05) 62,576.08
              06) 65,079.13
              07) 67,682.29
              08) 70,389.58
              09) 73,205.17
              10) 76,133.37
              11) 79,178.71
              12) 82,345.86
              13) 85,639.69
              14) 89,065.28
              15) 92,627.89
              16) 96,333.00
              17) 100,186.32
              18) 104,193.78
              19) 108,361.53
              20) 112,695.99
              21) 117,203.83
              22) 121,891.98
              23) 126,767.66
              24) 131,838.37
              25) 137,111.90
              26) 142,596.38
              27) 148,300.23
              28) 154,232.24
              29) 160,401.53
              30) 166,817.59
              Total: $3,000,000.00

              Granted, at the $1,000,000 win, you wouldn't be living a super luxurious lifestyle, and depending on your age, you may or may not be able to retire right away. I'm 29, so I wouldn't be able to retire right away, however, it would still be a substantial increase in income for me and let me enjoy things I otherwise wouldn't be able to.

              At $2,000,000, I still wouldn't retire right away, but I could see myself being able to retire at 40 if I wanted to.

              The $3,000,000 prize is definitely where I could retire right away if I wanted to. Yeah, I won't being living the upper class lifestyle for the first few years, but I'd be perfectly fine with that. Don't get me wrong, these super jackpots where a person could buy multimillion dollar homes, Lamborghinis, Ferraris, etc is something nice to dream about, but I just want to be able to live comfortably.

              Gonna win.Big Smile

                Arrowhead's avatar - underground
                Ohio
                United States
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                December 27, 2011
                294 Posts
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                Posted: July 10, 2015, 7:28 pm - IP Logged

                Unfortunately my state's highest payout is $52K, taxes paid.  I think that's around $67K gross, and the tickets cost $2 each.  Not worth it!

                Idaho is part of the 'Hot Lotto' multi-state game.

                The current JP is $1.1 mil. It was recently won at $9.85 mil. 

                Not MM or PB figures, I realize, but at least you have a hope and a prayer of winning something pretty significant.

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                  United States
                  Member #163996
                  February 15, 2015
                  68 Posts
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                  Posted: July 11, 2015, 2:42 am - IP Logged

                  I stopped playing when they changed it to $2/ticket and made it harder to hit the jackpot by 2x. I sometimes doubled up on MM instead. 

                  If I want to play for smaller prizes, I can play daily Pick 3 or Pick 4 and win more often for more money.  I play the big games only because they are life changers, if you should happen to win.  If I don't win, at least I know that my losing tickets help fund someone else having a life changing moment.

                  Right now, 1 million would be life changing.  When it gets up over 20 million, it wouldn't change my life that much more. All I want is to be comfortable, not crazy rich.

                  They are killing the lottery as far as I am concerned.

                  Since PB went to $2/ticket, I don't play until it reaches $100M or more.  Then I buy five tickets.

                    Avatar
                    NY
                    United States
                    Member #23835
                    October 16, 2005
                    3474 Posts
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                    Posted: July 11, 2015, 2:45 am - IP Logged

                    "When you see it laid out in this fashion doesn't it seem unnecessary to change the game?"

                    Not if you're a lottery official who has to answer to politicians. The only thing they can see is slower jackpot growth and revenue that's not growing fast enough. The lottery officials might not be as stupid as we think, but their primary goal in deciding if changes are required is probably giving the politicians the answers the politicians want, and that answer is "sure, changing the game will increase revenue".

                      HoLeeKau's avatar - YheaShea
                      Idaho
                      United States
                      Member #94283
                      July 17, 2010
                      2284 Posts
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                      Posted: July 11, 2015, 10:19 am - IP Logged

                      Idaho is part of the 'Hot Lotto' multi-state game.

                      The current JP is $1.1 mil. It was recently won at $9.85 mil. 

                      Not MM or PB figures, I realize, but at least you have a hope and a prayer of winning something pretty significant.

                      I do play Hot Lotto, but right now the odds are better to win a million with Powerball than with Hot Lotto.  I haven't compared the new odds for 5 + 0 on Powerball yet.  If HL is comparable then I'll probably spend most of my extra money on HL instead.

                        golfer1960's avatar - Lottery-003.jpg
                        Eatontown, NJ
                        United States
                        Member #119670
                        November 29, 2011
                        740 Posts
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                        Posted: July 11, 2015, 4:09 pm - IP Logged

                        "When you see it laid out in this fashion doesn't it seem unnecessary to change the game?"

                        Not if you're a lottery official who has to answer to politicians. The only thing they can see is slower jackpot growth and revenue that's not growing fast enough. The lottery officials might not be as stupid as we think, but their primary goal in deciding if changes are required is probably giving the politicians the answers the politicians want, and that answer is "sure, changing the game will increase revenue".

                        Hi Floyd, isn't it a shame that our politicians don't encourage growth and revenue when it comes to the private sector of our economy but when they are trying to squeeze more money from the public from gambling, they suddenly become capitalist instead of the socialist that they are.

                        Does that make any sense?

                          Teddi's avatar - Lottery-008.jpg

                          United States
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                          May 13, 2013
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                          Posted: July 11, 2015, 9:28 pm - IP Logged

                          Well you have to hand it to the Powerball people, and their sense of unconventional marketing.    First they double the price of a commodity, their ticket, while reducing its value.    Then they act surprised when sales fall.   In order to address the falling sales, they announce that they are going to reduce the value of the product even more.

                          They're definitely geniuses over there.

                          Overall, the general trend here, it it's representative, is that people are going to play less often.     After five years of rollovers without a single winner, I'm sure the jackpot will rise to something like $250,000,000 annuity (with interest rates hitting 15%) raising, maybe, an iota of excitement.

                          Very well stated.

                          I suppose the biggest issue I have with this is it's been tried already and it hasn't worked but yet they are duplicating MM anyway. I didn't agree with the price hike, but at least that had the payoff of a higher starting point and higher rollover amounts. 

                          But this new system has no advantage for players because we've already seen what happened with MM who all but promised players that their new crappier odds would result in fewer but consistently higher jackpots. They have yet to even break the record amount set with the previous matrix and their sales have taken a hit too, so why bother? I can't understand why PB would think it is a good  idea to go this route when it's already proven a failure. Good luck to them, I'll be going back to playing MM again.

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                            Simpsonville
                            United States
                            Member #163189
                            January 22, 2015
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                            Posted: July 13, 2015, 7:59 am - IP Logged

                            Had four numbers on Powerball QP; thought I'd be the first LP poster to win the million, just one # away.  Normally play Powerplay and didn't...won a measly $100.  Since I was @ work in the PICU I had nice thoughts of laying their phone down and walking off the job.  But thought no, the sick kids need you today.

                              DC81's avatar - batman39
                              MI
                              United States
                              Member #54830
                              August 31, 2007
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                              Posted: July 13, 2015, 1:26 pm - IP Logged

                              Didn't Powerball try this trick back in 2012?

                              They increased the numbers to be picked which raised the odds. They raised the price which raised my stress level. It's still not enough? Powerball has higher jackpots and more winners than Mega Millions and they still want to change it? I don't get it.

                              According to my calculations in 2012 there was 15 Powerball Jackpots won to 13 Mega Millions.

                              In 2013, there were 13 Powerball Jackpots won to 11 Mega Millions.

                              In 2014, there was 11 Powerball jackpots hit to only 9 Mega Millions.

                              In 2015, thus far Powerball leads with 9 jackpots hit to only 4 by Mega Millions.

                              Still both games have had gigantic jackpot wins but it's inevitable that smaller jackpots are going to get hit. 

                              So in my opinion, Powerball has been MORE successful because they have created "more" millionaires and "higher jackpots" than Mega Millions.

                              I think Powerball is over reacting. Roll back the price to $1.00 and more people would play (I think). Leave the odds where they are.

                              The jackpots that have been hit over $100M are as follows:

                              2012 - Powerball - $580M, $337M, $336M, $241M, $202M.

                              2012 - Mega Millions - $656M, $120M, and $118M.

                              2013 - Powerball - $591M, $448M, $399M, $338M, $217M, $216M, $131M, $130M, $122M.

                              2013 - Mega Millions - $648M, $198M and $189M.

                              2014 - Powerball - $425M, $259M, $225M, $208M, $150M, $124M.

                              2014 - Mega Millions - $414M, $326M, $180M, and $149M.

                              Thus far in 2015:

                              2015 - Powerball - $564M, $188M, $137M.

                              2015 - Mega Millions - $265M, $260M and $127M.

                              When you see it laid out in this fashion doesn't it seem unnecessary to change the game? Powerball odds are 1: 175M while Mega Millions are 1:258M.

                              I say leave it alone. Even with a $2.00 price Powerball produces more winners and higher jackpots than Mega Millions.

                              No?

                              They did and it failed so they went back to the drawing board to put the game at its current state.

                              I haven't seen sales numbers but I have to imagine MM's matrix change has spectacularly backfired by this point.

                              You can't predict random.