Mega millions invention...

Reply #8

four4me — Sun, 23 Apr 2006 19:00:00 GMT

Pumpi76 wrote:

How did they figure out, what was going to be the payout for second and lower prizes.

They structured the games payouts around predicted sales. Which include everything from operating costs, profit money for the state and anything else that they deemed necessary. Apparently there is a mathematical formula they use to determine the odds and the payouts. When they add or subtract balls/numbers for the drawings (change the matrix of the game) they recalculate the drawings odds

Reply #7

ryanm — Sun, 23 Apr 2006 17:13:12 GMT

Yep, Mega Millions was formed to stop the money drain on big state lotteries due to Powerball having larger jackpots than theirs. Lotto America, Powerball's predecessor, was originally formed by six small state lotteries to compete with the big state lotteries' jackpot games, since the small state lotteries could not afford to have rolling jackpot games all by themselves.

Reply #6

Todd — Sun, 23 Apr 2006 12:46:27 GMT

The same information is available for Mega Millions:

http://www.usamega.com/mega-millions-wheretoplay.htm

Reply #5

Todd — Sun, 23 Apr 2006 12:45:58 GMT

This page should be of interest to people looking for historical information (dates) on Powerball:

http://www.usamega.com/powerball-wheretoplay.htm

Reply #4

DoctorEw220 — Sun, 23 Apr 2006 09:25:02 GMT

Back in 1992, Lotto America (formed in the 1980s) was replaced by Powerball.

Reply #3

pumpi76 — Sun, 23 Apr 2006 06:48:48 GMT

thank you guys, I knew that the mega millions had come from the Big game. But what was the name of the earlier multi-state game that powerball stemed from? What year are we talking about here?

pumpi76

Reply #2

Coin Toss — Sun, 23 Apr 2006 05:52:00 GMT

Mega Millions and Powerball are both two lotteries in one. If you get struck by ligthning and get 5 of 5 on the top grid of numbers, then you have to hope you have the right number on the bottom, too, the Mega numger or the Powerball number.

Reply #1

RJOh — Sun, 23 Apr 2006 05:50:41 GMT

MegaMillions lottery started out as the BigGame lottery which was created to compete with the PowerBall lottery which was an improvement of an earlier multi-state game. When The BigGame expanded to include Ohio and New York, it became MegaMillions.

Mega millions invention...

pumpi76 — Sun, 23 Apr 2006 05:37:32 GMT

hi, doesn't anyone knows, how mega million was invented?They must have done research on it before exposing it to the public (i am talking research payouts odds, etc) I mean i don't think the state overnight said, let's create a game? i bet it took careful research. How did they figure out, what was going to be the payout for second and lower prizes.

pumpi76