MM jackpot $47M/$36.1M and PB jackpot $50M/$33.3

Reply #23

Prob988 — Sun, 01 Jul 2012 05:46:46 GMT

I think you're refering to the average final jackpot and not average jackpot, the latter being more like $100M annuity.

Since the changover, it's reached or exceeded the average only twice independent of the previous matrix.

At current annuity rates, $100M Jackpot represents something like $66M bucks. The first time it passed $100 (jumping from $94 to $113, it achieved the cash value of the prize as being approximately 32% of sales. The second time, it was barely below. For all prizes won... [ More ]

Reply #22

maximumfun — Fri, 29 Jun 2012 16:11:23 GMT

I agree: sounds like the 'casual' players have dropped out of PB and now only those with '2$ and a plan' remain.

Reply #21

RJOh — Thu, 28 Jun 2012 13:57:55 GMT

Now we'll just has to pretend PB didn't get won and just look at the performance of MM on its own in this range. It seems so far that MM's jackpots are increasing at the same rate that PB's jackpot would have increased with its $2 tickets.

This brings up the question why are PB jackpots seeming to get won more often inspite of its higher price and less players? Could it be players paying $2 per play are giving a little more thought to the combinations they are playing

Reply #20

maximumfun — Wed, 27 Jun 2012 13:55:26 GMT

you are right... of course... it will be fun watching to see whose cash value rises quicker once they are both at the same cash value level... MM was winning this last time - hands down on the 'cv increase'... but that might just have been because of the level that the jackpots were at.

the jackpot advertised amounts are deceptive, since it is so easy to equate the two - is there some translation tool somewhere that can translate the jackpot amounts into similar language (other than comparing... [ More ]

Reply #19

KY Floyd — Wed, 27 Jun 2012 05:20:57 GMT

What they are counting on is a super huge (record or near record) jackpot.

They're certainly hoping for that, but my guess is that they're simply counting on things evening out in the long run, and probability is on their side. The 7 jackpots since the price increase have averaged $142.7 million, so the ones that came up short are being offset by the big ones that had high sales.

I don't know how this compares to what they hoped for, but they're doing better than they were at $1 per ticke... [ More ]

Reply #18

Todd — Tue, 26 Jun 2012 02:52:38 GMT

If you want to compare PB and MM jackpot amounts and increases, you can only compare the cash values. As everyone SHOULD know, the annuity jackpot estimate is calculated based on the cash that is estimated to be on-hand. Since PB and MM have different annuity lengths (29 vs. 25 years) and different payout increments (annually-increasing vs. fixed year-to-year), it is not valid to compare the annuity jackpot amounts as a raw number. Only the cash values can be compared as raw numbers.

I'm not... [ More ]

Reply #17

ryanm — Tue, 26 Jun 2012 02:46:29 GMT

Ugh, I sure hope Powerball doesn't change its matrix to make it even harder to win, like it did in the past every time it had a lucky string of winners. Also, if PB goes back to the $1 ticket price, what's there to differentiate it from Mega Millions? PB will more than likely just disappear, since MM will just take its place (assuming Florida jumps on board).

Reply #16

smooth11484 — Mon, 25 Jun 2012 20:51:22 GMT

na dude pb only does 9 mill sometimes still

Reply #15

Prob988 — Mon, 25 Jun 2012 20:43:09 GMT

Actually, the income is affected by the fact that the prize allocation is not being covered by 32% of sales. The effect of the guaranteed starting jackpot carries too far into the rollover series.

They did not sell enough tickets to cover $39.9 million cash using only the 32%. The actual cash value covered was around $25.6 million. They need to come up with the $14.3 million out of sales.

What they are counting on is a super huge (record or near record) jackpot. If they continue to have ba... [ More ]

Reply #14

KY Floyd — Mon, 25 Jun 2012 16:34:54 GMT

Sales are down. Income is up. It's easy to see that $2 PB is a complete success if you remember that its purpose is to earn income for the states.

Reply #13

RedStang — Sun, 24 Jun 2012 15:07:13 GMT

PB was the guinea pig to see how 2$ works out. It's a failure. Most peeps i see buy one pb. MM most likely won't change now.

Reply #12

RJOh — Sun, 24 Jun 2012 14:07:55 GMT

PowerBall will change its matrix or its price before it ever disappeared and MM would have to consider if some states might ban together to create another $1 multi-state game if they ever abandon that market.

PowerBall wouldn't be the first $2 ticket game to fail and be replaced with a game closer to its older version. It happened in Ohio in 2007 when Lot'O Play was replaced by Classic Lotto a version of the 6/49 game it replaced a year earlier.

Reply #11

maximumfun — Sun, 24 Jun 2012 04:51:40 GMT

Ryanm - I hope you are wrong. It's really nice having a 1$ ticket game.

and I was surprised to see no 5-0 winners myself! I'm guessing that it was NOT a quick pick winner.

Reply #10

ryanm — Sun, 24 Jun 2012 04:49:45 GMT

Wow, Powerball just got won right at the $60 million mark again, and this time, there weren't even any 2nd place winners. If people keep winning the jackpot before it rolls seven times, then Powerball will surely disappear, leaving Mega Millions the only multi-state giant jackpot game. Unfortunately, what will probably happen under such a scenario, is Mega Millions will double its ticket price.

Reply #9

ryanm — Thu, 21 Jun 2012 11:38:43 GMT

From the looks of PB ticket sales, which are mirroring its last run's sales, the 'standard $10 million increases' will most likely continue until it gets to at least $100 million, maybe $110 million thanks to falling interest rates, again.

Reply #8

mediabrat — Thu, 21 Jun 2012 00:28:19 GMT

Perhaps advertising has something to do with it. I can't tell you the last time I saw an ad for Lotto; however, you can count on ads for PB and MM when their jackpots start getting into exciting territory. Also, I've seen a resurgence in the little bit of luck Take 5 campaign. And around here (Albany), we have highway billboards with the PB and MM jackpots, but I don't believe we have one for Lotto.

Anyway, the point is, without a lot of advertising to plant the idea of playing Lotto in the p... [ More ]

Reply #7

maximumfun — Wed, 20 Jun 2012 18:12:12 GMT

very simply and clearly put prob988.

Reply #6

Prob988 — Wed, 20 Jun 2012 17:43:11 GMT

I'm not sure what anyone's doing, but it makes absolutely no sense to buy a Powerball ticket if one can buy MM

Reply #5

maximumfun — Wed, 20 Jun 2012 13:09:47 GMT

Looks like MM wins! (I just can not see how PB will bring its cash prize to in keeping to where MM now is... AND MM just had a healthy jump while PB will most likely be on their 'standard 10M$' still at this point

Reply #4

KY Floyd — Mon, 18 Jun 2012 02:19:02 GMT

ticket sales should tell the true story of prices difference effect on total sales.

Don't be too sure. Several times NY lotto has had a higher advertised jackpot than MM, and occasionally a higher cash value (which NY never advertises). Lotto also offers odds that are more than 7 times better. Both games cost $1. Sometimes the 2nd place lotto prize is even bigger theh MM's. Without fail, MM still sells far more tickets than lotto.

Of course people may think of MM as the big jackpot game c... [ More ]

Reply #3

Litebets27 — Mon, 18 Jun 2012 01:33:38 GMT

Interesting

Reply #2

weshar75 — Sun, 17 Jun 2012 23:44:44 GMT

I hope that I win mega on tuesday night so I can take the cash option.-weshar75

Reply #1

maximumfun — Sun, 17 Jun 2012 18:58:55 GMT

its like a snail race

MM jackpot $47M/$36.1M and PB jackpot $50M/$33.3

RJOh — Sun, 17 Jun 2012 17:48:06 GMT

Now that MM and PB have similar payouts and cash prizes, ticket sales should tell the true story of prices difference effect on total sales. While PB will be forced to increase its jackpots by $10M regardless of tickets sales, it will be interesting to watch MM jackpot increase which is only dependent on tickets sales.