Welcome Guest
Log In | Register )
You last visited August 5, 2020, 5:24 pm
All times shown are
Eastern Time (GMT-5:00)

Powerball to lower jackpot starting point and increases due to plunge in sales

Topic closed. 75 replies. Last post 4 months ago by KY Floyd.

Page 5 of 6
PrintE-mailLink
TheMeatman2005's avatar - lightening
Brooklyn, NY
United States
Member #169719
October 29, 2015
1482 Posts
Offline
Posted: March 28, 2020, 11:59 am - IP Logged

The lottery is a business. The lottery isn't covering their guaranteed jackpot raises with the current ticket sales. They will not lose money. The rules will go back to normal when the pandemic is over and people are buying their tickets again.

Yes, the lottery is a business and probably not covering their guaranteed raises with the current ticket sales, but I didn't read anywhere that they will go back to the $40 mil start and $10 mil raises after this pandemic is over.

The Meatman 🥩🍗🍔🍖🍤🌭

“The quickest way to double your money is to fold it in half and put it in your back pocket.” Will Rogers

Winning happens in a flash, Like A Bolt Of Lightning!  Patriot

    cbr$'s avatar - maren
    100
    Cordova,Al.
    United States
    Member #104478
    January 15, 2011
    11407 Posts
    Offline
    Posted: March 28, 2020, 2:20 pm - IP Logged

    Coronavirus strikes again

    Today the Powerball Product Group announced it is making changes to the multi-state lottery game's jackpot due to sagging sales caused by the COVID-19 coronavirus.

    Following the next grand prize win, Powerball's starting jackpot will reset to a guaranteed $20 million (annuity) with minimum roll increases of $2 million between drawings.

    Previously the starting point was $40 million, with guaranteed $10 million increases between drawings that did not produce a jackpot winner.

    "Powerball players in many U.S. lottery jurisdictions are under shelter-in-place orders or recommendations from their governors or mayors, which has affected normal consumer behaviors," Bishop Woosley, director of the Arkansas Scholarship Lottery, said. "Just like other enterprises around the world that are making adjustments, the lottery industry is making proactive changes to continue to offer the world's premier lottery product."

    Tonight's advertised jackpot is a guaranteed $150 million; $114.8 million cash value. If the jackpot is won in tonight's drawing, the jackpot will reset to a guaranteed $20 million (annuity) for the Saturday, March 28 drawing with minimum jackpot roll increases of $2 million between drawings. If the jackpot is not won tonight, then the jackpot will grow to an estimated $160 million (annuity).

    Powerball tickets are $2 per play. Drawings are held every Wednesday and Saturday at 9:59 p.m.

    In my opinion all the state lottery & gaming business. As well as regulars business's will continue to have sagging
    sales with the COVID- 19 corona virus. The  projective income off the sale of tickets will continue to drop, this is 
    just the first wave of this virus. I believe the adjustment to the games pay outs are now in line with the true sale
    of the game. Now, it base on what they can guaranteed to pay out. Think of the changes as a safety net for them
     and for us.
      andl's avatar - hSk1nCp

      United States
      Member #193182
      October 22, 2018
      16 Posts
      Offline
      Posted: March 28, 2020, 4:13 pm - IP Logged

      Yes, the lottery is a business and probably not covering their guaranteed raises with the current ticket sales, but I didn't read anywhere that they will go back to the $40 mil start and $10 mil raises after this pandemic is over.

      You are right. I made an assumption. If they do not go back to 40 million & 10 million increase I can see MM being the new top game.

        Avatar
        Chasing $ Millions.
        White Shores- California
        United States
        Member #136473
        December 12, 2012
        6264 Posts
        Offline
        Posted: March 28, 2020, 4:41 pm - IP Logged

        You are right. I made an assumption. If they do not go back to 40 million & 10 million increase I can see MM being the new top game.

        Regardless of whether they raise or lower the jackpot, that sucker is hard to hit.

        * On a side note, l have noticed that just about every 3rd person out here is wearing those masks,the ones covering the nose & mouth. Read a W.H.O piece where it states that those units are useless. Constantly breathing that bad air you have trapped should be freed, expunged since it's unhealthy. Plus, once that mask gets wet from your exhale, it needs to be tossed. One mask is  not meant to be worn for hours.

        * Just keep your distance & use common sense.

         * Voice of Reason *   

         

        People who say it cannot be done should not interrupt those who are doing it- George Bernard Shaw.

          Avatar
          Kentucky
          United States
          Member #32651
          February 14, 2006
          8928 Posts
          Online
          Posted: March 28, 2020, 6:52 pm - IP Logged

          Thank you Stack 47.   Maybe they will go anonymous with all those 'winners' that just say where the ticket was purchased and nothing else?

          So after this one is finally won and it goes to $20 million and $2 million with each no jackpot drawing I will do my best to purchase one ticket semi-annually since it'll take forever to get to $100 million, like about 20 weeks or so.   Then my regular purchasing would commence.

          The new PB is not fair and think they are being greedy.   cut off ones nose to spite their face or however it goes.   Too bad player input wasn't a factor.   I'd say keep it the same except for once/week drawings?  IDK, but they'll lose a lot of loyal customers with their choice.

          They scroll the Online scratch-off like game winners first name, city, and the amounts they won. Only winnings and not deposits can be withdrawn and it usually takes about 24 hours. Friday and weekend withdrawals won't hit the bank account until Monday.

          Mister we could use a man like Herbert Hoover again

            Avatar
            Louisiana
            United States
            Member #191895
            August 27, 2018
            613 Posts
            Offline
            Posted: March 28, 2020, 6:55 pm - IP Logged

            You have that wrong. That isn't what was said. They said that without enough beds and ventilators and staff, masks, gloves, equipment, this is what they're going to be forced to do.

            Meaning, give them what they need to try to keep everyone alive. It is literally nothing like ethnic cleansing. It IS like having a moron in charge during the worse pandemic in generations and having that moron tell those trying keep people alive that he'll only help if his ego is stroked well enough. 

            We're seeing young, healthy people with no underlying issues die from COVID19 and we're seeing seniors recover from COVID19. But those are not the norm, so given we still don't have nearly enough tests, and not nearly enough resources to deal with what is really happening on the front lines, stay home and don't force practitioners to have to make those types of vile, heartless decisions on you.

            I would not trust doctors at all making life, or death decisions, race, ethnicity, age, greying hair, could play a part in the decision making process.

            All number sets are contenders until the drawing occurs.

              Avatar
              Chasing $ Millions.
              White Shores- California
              United States
              Member #136473
              December 12, 2012
              6264 Posts
              Offline
              Posted: March 28, 2020, 8:43 pm - IP Logged

              I would not trust doctors at all making life, or death decisions, race, ethnicity, age, greying hair, could play a part in the decision making process.

              "You would not trust Doctors."

              During this crisis or in general? Death with honor huh, being placed in an unmarked grave will do just fine? Going out like Mozart, sewed into a  linen bag & tossed with others in an open trench in a field? You gotta stand for something- What a guy!

               * Voice of Reason *   

               

              People who say it cannot be done should not interrupt those who are doing it- George Bernard Shaw.

                Avatar
                New Member

                United States
                Member #158923
                September 7, 2014
                10 Posts
                Offline
                Posted: March 28, 2020, 10:04 pm - IP Logged

                remember folks, the house always wins. LOL

                  Unluckyone's avatar - lib

                  United States
                  Member #176415
                  August 4, 2016
                  180 Posts
                  Offline
                  Posted: March 29, 2020, 12:25 pm - IP Logged

                  You are right. I made an assumption. If they do not go back to 40 million & 10 million increase I can see MM being the new top game.

                  MM has had a bunch of $5 million increases which for the unforeseeable future may be the norm.

                    Avatar
                    Simpsonville
                    United States
                    Member #163184
                    January 22, 2015
                    2225 Posts
                    Offline
                    Posted: March 29, 2020, 2:00 pm - IP Logged

                    I would not trust doctors at all making life, or death decisions, race, ethnicity, age, greying hair, could play a part in the decision making process.

                    If I put in a post about this ventilator debacle, it would be a very long post.   Some of you know I'm a retired US Army trained Respiratory Therapist and then did another 20 in a PICU.   Besides no staff to manage these patients, there are humongous obstacles in regards to the ventilators.  IM me and I'll answer individually.   Been waiting patiently on FB for an RT to mention this and so far none...scary stuff my friends.   I could literally make a killing if I were to travel to a big city, one pays $100/hour plus $3400 week bonus.  My health and well being there is no price tag for that.   As for the Army, forget about that too, the young troops can/will handle it.

                      bobk215's avatar - iron
                      New Member
                      virginia
                      United States
                      Member #185227
                      October 21, 2017
                      2 Posts
                      Offline
                      Posted: March 29, 2020, 11:09 pm - IP Logged

                      Ripoff game any how. Bad enough states only pay half your odds on pick3@4 games. I will pass on government run lottery.

                        HoLeeKau's avatar - YheaShea
                        Idaho
                        United States
                        Member #94279
                        July 17, 2010
                        2306 Posts
                        Offline
                        Posted: March 30, 2020, 3:46 pm - IP Logged

                        I also assumed they'd go back to $40M minimum and $10M increases when this is back to normal.

                        But what I really hope they'd do is overhaul it to make the million dollar 2nd prize easier to win.  Yes, a whole bunch of people don't play unless the top prize is astronomical, but there are plenty of us who'd play for a million if we had a shot in aitch at winning it.  I might even purchase the power play to get 2 - 10 million, which I haven't bought in a decade or more.  I don't know how long it's even been since someone in my state won 2nd prize.

                        Add a few Powerball numbers to make the jackpot a little harder to win, and decrease the white ball numbers to make the million easier to win.  I don't know how each state would handle that.  They would need a little more in their coffers to pay those prizes, and I believe as it stands, most have a set percentage of profits that must be given to whichever government agency the lottery is supposed to supplement.

                        Maybe Powerball would have to take a few hundred grand out of the jackpot each draw to distribute to each state to help them pay for those extra prizes.  I could live with a smaller rise in the pot as the trade off.  But I think making it harder to get the Red Ball would lead to more humongous jackpots which would more than make up for any losses taken on the extra million dollar prizes.

                          SaraAnnRapp's avatar - Lottery-059.jpg

                          United States
                          Member #205233
                          March 19, 2020
                          291 Posts
                          Offline
                          Posted: April 3, 2020, 10:54 am - IP Logged

                          I too have stopped buying tickets for these games. Right now I'm going to wait until April to see if my state runs the planned raffle. If so I will buy tickets for that. But I don't know when I will go back to playing PB and MM.

                          Well my state did cancel the $50,000 April raffle the day before it was to begin. They claim they don't want the game to contribute to the Covid crisis but ignore the fact that they are continuing to offer the regular games, go figure. 

                          I'm not really complaining as I never win anything in these raffles even though I have played every single one they have offered over the years.

                            Raven62's avatar - binary
                            25
                            New Jersey
                            United States
                            Member #17842
                            June 28, 2005
                            127337 Posts
                            Offline
                            Posted: April 3, 2020, 4:55 pm - IP Logged

                            I too have stopped buying tickets for these games. Right now I'm going to wait until April to see if my state runs the planned raffle. If so I will buy tickets for that. But I don't know when I will go back to playing PB and MM.

                            I Agree! Life After Powerball! No Pity!

                            A mind once stretched by a new idea never returns to its original dimensions!

                            Catch-22: A dilemma or difficult circumstance from which there is no escape because of mutually conflicting or dependent conditions.

                            Corruptissima re publica plurimae leges: When the republic is at its most corrupt the laws are most numerous.

                              Avatar
                              Chasing $ Millions.
                              White Shores- California
                              United States
                              Member #136473
                              December 12, 2012
                              6264 Posts
                              Offline
                              Posted: April 3, 2020, 9:05 pm - IP Logged

                              I too have stopped buying tickets for these games. Right now I'm going to wait until April to see if my state runs the planned raffle. If so I will buy tickets for that. But I don't know when I will go back to playing PB and MM.

                              Why did you stop, it's  just $2. Chances are, however slim that once you grind your game to a halt, next thing you know, the winning ticket is purchased at that same watering hole you purchase your tickets at. Don't be a casualty of " shoulda,coulda,woulda.

                              Just saying...

                               * Voice of Reason *   

                               

                              People who say it cannot be done should not interrupt those who are doing it- George Bernard Shaw.