Powerball underestimated by that much?

Reply #7

Jon D — Mon, 16 Sep 2013 22:30:09 GMT

They have past sales, but not future sales, which is what was being discussed.

Normally, they do conservatively underestimate the sales, but lately, the jackpots have been in uncharted territory, so they've had to make corrections in both directions on many occasions in the past few big runs. Using the lates numbers, the current $400M JP is based on projected sales of approx $188M.(of which, 29.97% goes to feed to JP pool)

This current run is on track to easily surpass the 5/18/13 Gloria r... [ More ]

Reply #6

ryanm — Sun, 15 Sep 2013 16:29:14 GMT

This is the first time in history Powerball has had back-to-back $400 million+ jackpot runs (or even back-to-back $300 million+ jackpot runs).

Reply #5

Toronto — Sun, 15 Sep 2013 06:08:19 GMT

Why even guess what sales were required? Just check lottoreport. $101.3 million in sales + $5.975 mill powerplay

Reply #4

KY Floyd — Sun, 15 Sep 2013 05:22:30 GMT

The real increase in the jackpot is the increase in the cash value, which was about $31.3 million (based on the curent cash/annuity ratio; that may be slightly different than for the past two drawings). A hair under 32% of sales goes to the jackpot, so each ticket contributes just under 64 cents. That works out to just under 49 million tickets to increase the jackpot by 31.3 million. That would have used less than 25% of the possible combinations.

The currently advertised jackpot of $400 mill... [ More ]

Reply #3

NYLOTTERY — Sun, 15 Sep 2013 03:30:25 GMT

I wouldn't call it slow, they projected at advertised 317 million, 16 million less. Last draw was 245million and now 301million, 23% increase. Thats a 56million increase jackpot raise. Which means 112 million total sales. Remeber half the money raised goes to increase jackpot, rest is payouts and what the state takes in. According to this information only 32% of all combinations have been used. This is not exact.

Reply #2

LottoMetro — Sun, 15 Sep 2013 03:20:55 GMT

Yes, the initial sales estimate for the draw from Wednesday was revised to be about $13 million less.

Reply #1

Toronto — Sun, 15 Sep 2013 03:16:09 GMT

Everyone has large jackpot fatigue. $300 million is chump change

Powerball underestimated by that much?

Bradly_60 — Sun, 15 Sep 2013 03:12:24 GMT

So per the drawing video the jackpot for tonight was $301m. It was advertised at $317m. Where sales really that slow