Powerball is taking a serious beating in December!

Reply #69

RJOh — Sun, 30 Dec 2012 06:19:10 GMT

That's a tricky question since some states allow partially filled out play slips to be completed by the terminal and classified a quick pick.

Reply #68

billionaire2bee — Sun, 30 Dec 2012 01:18:49 GMT

Yeah but aren't all these winners quick pick

Reply #67

Stack47 — Sun, 30 Dec 2012 00:09:38 GMT

They won $599.

I cashed a $2600 Keno way ticket and they wanted to give me a W-2G for the entire amount. I protested because the way ticket had 15 $1 ways and only one way was over the IRS limit. The manager in the cashier cage agreed with me and they lowered the amount on the W-2G to $1499. I won't say for a fact someone cashing a huge amount of pick-3 tickets won't have a problem because I never bet that much on a pick-3 number and don't know anyone that does.

Reply #66

Stack47 — Sat, 29 Dec 2012 23:54:20 GMT

But if the IRS got wind of someone winning a great sum of money playing pick3 and staying under the radar by only buying single tickets to avoid winning more than $600 on a single tickets, I bet they would pursuit it.

The reason W-2Gs aren't issued for tickets under $600 is because of IRS regulations.

Without issuing a W-2G, there is no way the IRS could get wind of it. I've cashed multiple pick-4 and pick-3 tickets in four states and never was questioned or asked for ID. It would be diff... [ More ]

Reply #65

Coin Toss — Sat, 29 Dec 2012 22:48:20 GMT

When the payoff is $600 and the ticket is $1 did the player win $600 or $599

Reply #64

Ronnie316 — Sat, 29 Dec 2012 22:48:12 GMT

Right, Win $600. Lose $600. Owe no taxes..........

Reply #63

Ronnie316 — Sat, 29 Dec 2012 22:46:34 GMT

Reply #62

Ronnie316 — Sat, 29 Dec 2012 22:46:12 GMT

Players are getting smarter..........

Reply #61

RJOh — Sat, 29 Dec 2012 20:33:51 GMT

It may be that PB lost the casual players who brought QPs and hoped for luck. With $2+ a line, PB may be getting more serious players who avoid combinations that aren't likely to happen thus improving their odds of winning.

Reply #60

RJOh — Sat, 29 Dec 2012 20:15:51 GMT

Kentucky pays $600 for a $1 pick-3 straight ticket and when I moved here, I wondered if it was taxed. It's not because the winnings are $599 and under the IRS limit.

All lottery winnings can be taxed, the fact that states don't send out W-G's for amounts under $600 doesn't mean it can't.

The fact that most winners of prizes under $600 have spent more than that to finally win makes it a waste of time for the IRS to pursuit such cases. But if the IRS got wind of someone winning a great sum... [ More ]

Reply #59

Stack47 — Sat, 29 Dec 2012 17:38:21 GMT

If the coin flip was a dollar against 2 dollars, the one dollar bettor has an EV of 2 dollar, or 200%.

Don't want to nit-pick but one of those dollars came out of the dollar bettors pocket so he can only win $1. The the profit is 100%, even money. If the lotteries ran a coin flip game like they run their other games and a player bet a dollar and won, they would pay them $1.

You win nothing if you win $2 on a $2 scratch-off ticket. Winning a free ticket in some of the pick-5 games is only... [ More ]

Reply #58

Anfang71 — Sat, 29 Dec 2012 16:19:17 GMT

If they did make a mistake....we don't care

I like the $40million start an the $10million increase. You know it gets bigger faster

Reply #57

dallascowboyfan — Sat, 29 Dec 2012 12:18:48 GMT

Me too.....

Reply #56

ryanm — Sat, 29 Dec 2012 06:09:26 GMT

I wonder when the MUSL is going to admit the new Powerball is a mistake. Sales clearly do not support a $40 million opening jackpot and $10 million minimum rollovers.

Reply #55

haymaker — Fri, 28 Dec 2012 21:15:23 GMT

I'll take it, even @ 40 mils. usa. mega says I'll clear $16 mil plus, I think thats enough.

Reply #54

RJOh — Fri, 28 Dec 2012 19:15:12 GMT

You can be sure someone is looking at these PB wins with the same concern they had when all those players won using fortune cookies numbers.

Reply #53

Coin Toss — Fri, 28 Dec 2012 18:27:47 GMT

CinCin,

There are many posts on this board that may look like something else, such as How come it's always NY / CAL / FL.... , that are in essence saying, How come it wasn't ME.

Reply #52

Boney526 — Fri, 28 Dec 2012 18:01:25 GMT

Not neccesarrily. Applying EV isn't a thing. Calculating it is. (EG A coinflip for a dollar between friends has an EV of 1 dollar, or 100%. If the coin flip was a dollar against 2 dollars, the one dollar bettor has an EV of 2 dollar, or 200%. The first bet is fair, while the second has an advantage for the 1 dollar bettor. Obviously real examples liket he lottery are more complex to calculate.)

And yeah, call it stingy, greedy, whatever you want. I think it's preferable to not share a ja... [ More ]

Reply #51

CinCin — Fri, 28 Dec 2012 17:56:31 GMT

I don't know...perhaps I'm missing something here, but can someone please explain to me when people hitting the lottery on a regular basis started being considered a curse? I'm really scratching my head here because this guy along with one other guy I've noticed seem to be complaining? Could these folks be complaining because they only play when the jackpot reaches 100 million or more? I seriously don't get their concept...Heck, I'm happy with the winners...These winners have not made your chanc... [ More ]

Reply #50

RJOh — Fri, 28 Dec 2012 17:45:45 GMT

I'm sure PB states ares doing better than breaking even over the long haul but that was never their goal. They want to show a nice profit after each drawing,

Reply #49

Ronnie316 — Fri, 28 Dec 2012 14:46:34 GMT

Reply #48

Ronnie316 — Fri, 28 Dec 2012 14:45:50 GMT

Good idea. You would want to sully your chances of receiving gifts this Holiday Season.

Reply #47

Original Bey — Fri, 28 Dec 2012 14:43:19 GMT

Is Lottery Worker2 the new Santa Claus?

I am PMing him as we speak with a thousand apologies for all of my snide remarks in the past.

Reply #46

Ronnie316 — Fri, 28 Dec 2012 14:40:09 GMT

Reply #45

RedStang — Fri, 28 Dec 2012 14:31:48 GMT

I believe PB has a inside informer and this matter needs to be investigated.

Reply #44

Ronnie316 — Fri, 28 Dec 2012 14:18:23 GMT

If Gordo can share the same numbers among multiple players, so can we.....

Reply #43

Ronnie316 — Fri, 28 Dec 2012 14:15:23 GMT

I like the idea of SHARING the JP with other players, especially LP players if possible.

Reply #42

Ronnie316 — Fri, 28 Dec 2012 14:09:25 GMT

So players winning is a bad thing......

Reply #41

Ronnie316 — Fri, 28 Dec 2012 14:07:29 GMT

Right, so applying EV to lotteries is a device of people who don't want to share.........

Sounds kinda stingy to me........

Reply #40

Ronnie316 — Fri, 28 Dec 2012 14:02:39 GMT

Exactly..... They are flush with cash and people are talking about them hurting. lol. lol.

Reply #39

Boney526 — Fri, 28 Dec 2012 13:28:30 GMT

LMAO

I guess there's nothing innaccurate about that post, except that it's not a system called EV.

EV stands for Expected Value, and is the same thing in any form of gambling. In the Lottery, EV is almost always negative, so most gamblers who seek positive EV stay away from Lottery, and stick with games like Poker, Blackjack, Video Poker, etc.

However, I still feel that (especially in parimutual games) it's best to maximize EV by self picking less played combos, so that w... [ More ]

Reply #38

KY Floyd — Fri, 28 Dec 2012 08:07:03 GMT

California's parimutuel payouts are based on the law, not a decision by the lottery. Unless the state legislators change that law there's no question that payouts for PB will also be parimutuel.

That won't make jackpot payouts in California any different than in other states. Those payouts have always been parimutuel everywhere and are based on the advertised jackpot. If they advertise a jackpot of $40 million and only sell one ticket they're SOL if that ticket happens to match 5+1.

As for... [ More ]

Reply #37

KY Floyd — Fri, 28 Dec 2012 08:03:24 GMT

Underfunded by $59 million? Oh, the horror ... Over a 4 day period in late November they made a profit of about $280 million, so they're not hurting at all.

Reply #36

joshuacloak — Fri, 28 Dec 2012 04:01:37 GMT

with last drawing of the month on 29th being 40m for pb

it makes whole month never gone above 50M mark

who here put a voodoo/whatever curse on powerball

first we get November being like best month for powerbal ending with the november 28th drawing at a record 587,500,000

and now december gone to hell,

its a curse, powerball spent all it last rolling luck in november,and now just giving jackpots out

once it hits 50m, it blows its brains out.

may know on the

Reply #35

maringoman — Fri, 28 Dec 2012 03:37:59 GMT

Yes. MUSL officials would certainly investigate if there were 3 self picks from 3 different states that hit at the same drawing lol I would love to have that press conference

Reply #34

Ronnie316 — Fri, 28 Dec 2012 02:56:25 GMT

Reply #33

Ronnie316 — Fri, 28 Dec 2012 02:40:45 GMT

We need to get mcginnin56 back here to play these numbers and get us a three way split at LP........

Reply #32

Ronnie316 — Fri, 28 Dec 2012 02:32:04 GMT

We are in this game together and Im playing both JP games just in case one of them hits......

Reply #31

Ronnie316 — Fri, 28 Dec 2012 02:31:06 GMT

We are in this game together and Im playing both JP games just in case one of them hits......

Reply #30

CinCin — Fri, 28 Dec 2012 01:59:03 GMT

LMAOOOOO....

same here rdgnr....

I wish that clown would tell us just how many times he's won since it's so friggin easy.

Reply #29

maringoman — Thu, 27 Dec 2012 21:39:47 GMT

Yessir, they're long overdue. It would be wonderful if they came before the end of 2012. I would probably lol

Reply #28

jjtheprince — Thu, 27 Dec 2012 19:43:24 GMT

Excluding the jackpot, what will they do when more than 100 players win a 5+0? That's $100 mil right there.

Reply #27

Nikkicute — Thu, 27 Dec 2012 18:53:08 GMT

Why should they add more numbers

They already added a $1, it can't be that bad.

Reply #26

Stack47 — Thu, 27 Dec 2012 16:50:52 GMT

Players have to beat odds of 648,976 to 1 to win $10,000 with the fixed payoffs and the average pari-mutual payoffs will be less than that. I wonder if anyone will be upset when they finally match 5 + 0, win $500,000, and see the 5 + 0 winners in other states winning $1 million.

Reply #25

Stack47 — Thu, 27 Dec 2012 16:36:42 GMT

Ticket sales for last night's drawing were $24,678,590 and the secondary prize payoff (excluding Power Play) was $7,011,908. The total sales for both drawings were $52,905,090 which doesn't leave much room for a profit if any. I believe each state pays a percentage of their ticket sales toward the jackpots and then payoff their secondary winners. Any state with a 5 + 0 winner last night probably lost money and the game probably lost money in both drawings.

If the jackpots continue to be won u... [ More ]

Reply #24

RJOh — Thu, 27 Dec 2012 16:34:02 GMT

Everything seem easy when it's done by someone else.

Reply #23

rdgrnr — Thu, 27 Dec 2012 16:33:52 GMT

Yeah, waaaaaaaay too easy.

I'm tired of winning all the time.

Reply #22

jjtheprince — Thu, 27 Dec 2012 16:22:20 GMT

It's WAY too easy to win, that's what the deal is. Like I've always said, way more numbers need to be added to make it way harder.

Reply #21

rdgrnr — Thu, 27 Dec 2012 16:09:56 GMT

I rarely hurl abuse.

I just cast aspersions.

That's not to say that I wouldn't entertain the notion of hurling abuse if they kept more than 5% though.

Reply #20

Ronnie316 — Thu, 27 Dec 2012 16:00:52 GMT

Reply #19

Ronnie316 — Thu, 27 Dec 2012 16:00:16 GMT

The states have become thirsty vampires and will stop at nothing to rape its citizens of cold hard cash.

Reply #18

Ronnie316 — Thu, 27 Dec 2012 15:56:29 GMT

The gas and oil companies keep around 5% and look at the abuse that gets hurled at them......

Reply #17

Ronnie316 — Thu, 27 Dec 2012 15:54:34 GMT

Of course they want to keep 50% but if it were not a state run operation the government would shut them down as a monopoly, and expose them for price gouging.........

Reply #16

RJOh — Thu, 27 Dec 2012 15:46:24 GMT

All states want to keep 50% of total sales for themselves, it's just that California doesn't take any chances based on expected future sales by being pari-mutual. If they don't make a lot of money, neither do the winners.

Reply #15

Ronnie316 — Thu, 27 Dec 2012 15:38:00 GMT

That make a lot more sense, because they can pay out less on a 5 of 5 when sales are low and keep the difference when sales are high....... Anther good way to satisfy their thirst.

Reply #14

RJOh — Thu, 27 Dec 2012 15:32:15 GMT

California will probably retain its pari-mutual status as they did with MagaMillions and only pay prizes out of actual sales rather than expected sales over the long term even if it's less than other states are paying out occasionally.

Who knows, maybe other states will adapt the same policy.

Reply #13

Ronnie316 — Thu, 27 Dec 2012 15:28:59 GMT

People like Boney who come out for the huge JP, and the huge JP ONLY will ONLY play for a single draw....

Those people have even devised a system for avoiding a split JP called EV.............

Reply #12

Ronnie316 — Thu, 27 Dec 2012 15:25:29 GMT

Its time those famous maringoman numbers came in.........

Reply #11

GASMETERGUY — Thu, 27 Dec 2012 15:24:58 GMT

Just a thought about those 50 million dollar winners.....

Back when PB was at a record high, many people bought one ticket stretching over the next few weeks. The winners might be coming out of those people.

Like I said, just a thought, but I am sobering up a little. I might change my mind when all three brain cells have recovered.

Reply #10

Ronnie316 — Thu, 27 Dec 2012 15:23:40 GMT

Reply #9

Ronnie316 — Thu, 27 Dec 2012 15:22:56 GMT

It depends on how you define paying for itself

Reply #8

Ronnie316 — Thu, 27 Dec 2012 15:21:16 GMT

Some players have BETTER ODDS............

Reply #7

Ronnie316 — Thu, 27 Dec 2012 15:18:48 GMT

lol. Im sure there is already a back room agreement that CA. will come out ahead of all the others states no matter what. They (CA) have a way of quenching their thirst for cold hard cash...........

Reply #6

RJOh — Thu, 27 Dec 2012 15:12:39 GMT

According to a rolling headline at LottoReport website, Since Dec5, the PB prizes have been under fund by $59M and the states are hurting. If the states are responsible for all prizes other than the jackpot then it's the states with the million dollars winners that are hurting the worst.

I'm surprised the PB payout structure hasn't changed to correct the situation, I suppose they will when California is added.

Reply #5

billionaire2bee — Thu, 27 Dec 2012 12:26:53 GMT

Hey I cannot complain........50 million is nothing to sneeze at.....I'd love to win it......soon I hope........LOL

Reply #4

Original Bey — Thu, 27 Dec 2012 06:02:35 GMT

Yes you did!

I didn't support your viewpoint at the time, but you certainly proved me wrong. Sales aren't particularly higher than usual so I am still trying to grasp why players are meeting with so much success...

Reply #3

Original Bey — Thu, 27 Dec 2012 06:00:00 GMT

I don't have any concrete information on sales, but since the implementation of this new matrix, the jackpot doesn't start paying for itself until it gets up to around 90 - 100 million.

Players are giving a series of kicks to the powerBALLS

Reply #2

maringoman — Thu, 27 Dec 2012 05:54:11 GMT

It feels like the twilight zone with all these PB jackpots being smashed right, left and center. I said it some other listing that players are excited and that spells doom to MUSLs bottom line. My aim is second prize with pp. That would be cool.

Reply #1

Editgap — Thu, 27 Dec 2012 05:49:46 GMT

Any specifics on how the fund these guranteed jackpots.

They should have a butt load of change from that record jackpot.

Powerball is taking a serious beating in December!

Original Bey — Thu, 27 Dec 2012 05:29:58 GMT

This is the FOURTH WIN at the 50 million dollar level. Florida won this lap and no, it wasn't me - lol.

Is there an invisible QP strategy we don't know about