Powerball & Mega Millions: A History

Reply #20

JADELottery — Tue, 31 Oct 2023 15:43:43 GMT

I'd likely play more, even when the Jackpot is low, if these were the payouts.

Suggested Lower Tier Payouts

Match 5 + 0 4 + 1 4 + 0 3 + 1 2 + 1 3 + 0 1 + 1 0 + 1 2 + 0 1 + 0 0 + 0

Powerball $1,100,000 $90,000 $3,000 $1,400 $70 $50 $9 $3 $2 $0 $0

Mega Millions $1,200,000 $90,000 $3,000 $1,400 $60 $60 $8 $3 $2 $0 $0

Reply #19

JADELottery — Sun, 29 Oct 2023 20:10:35 GMT

As of 2023-10-29

Yes [ 16 ] [ 88.9% ]

Some [ 0 ] [ 0.0% ]

No [ 2 ] [ 11.1

Reply #18

JADELottery — Fri, 27 Oct 2023 16:27:05 GMT

Yeah, the lottery industry needs to realize most players recycle the lower tier wins back in to the lottery most of the time anyway.

In addition, if the lower tier win is big enough, it gets put in to the local economy; with taxes on those purchases... win-win for both the player and gubment.

So, it would be the best interest of all, if the lottery industry would loosen their money bags a bit and crack off a little of that pot for those lower tier wins.

Reply #17

JADELottery — Fri, 27 Oct 2023 15:33:35 GMT

As of 2023-10-27

Yes [ 14 ] [ 87.5% ]

Some [ 0 ] [ 0.0% ]

No [ 2 ] [ 12.5

Reply #16

IAmABadOne — Thu, 26 Oct 2023 16:59:06 GMT

Considering the higher odds after the last matrix change and the doubling of the ticket cost, it would be a welcome relief for for the lower prize tier levels to pay out a bit more. I do believe more people would play a bit more if they were able to win anywhere from 20-50 dollars once in a while from the lower prize tiers.

Till then I will just continue buying a ticket or two of Feel Good Picks from a Fantasy Pool from a wheel I created with Covermaster just to be in it. When Powerball or M... [ More ]

Reply #15

JADELottery — Thu, 19 Oct 2023 15:02:49 GMT

Yeeah, we'll go with Mega Millions (a.k.a. Trillions) for now when the pot's low.

Maybe even a multiplier since they are so generous with that, too.

Reply #14

JADELottery — Tue, 17 Oct 2023 17:01:35 GMT

Jackpot Goggles Off Now

Powerball

Date Change 4+0 3+1 3+0

1992 Payout $100 $100 $7

Odds 1:6,247.63 1:7,048.61 1:160.20

2023 Payout $100 $100 $7

Odds 1:36,525.17 1:14,494.11 1:579.76

Increase Payout $0 $0 $0

1.0 x Higher 1.0 x Higher 1.0 x Higher

Odds 5.8 x Higher 2.1 x Higher 3.6 x Higher

Mega Millions

Date Change 4+0 3+1 3+0

1996 Payout $150 $100 $5

Odds 1:9,809.07 1:5,350.40 1:222.93

2023 Payout $500 $200 $10

Reply #13

JADELottery — Tue, 03 Oct 2023 11:47:30 GMT

As of 2023-10-03

Yes [ 11 ] [ 84.6% ]

Some [ 0 ] [ 0.0% ]

No [ 2 ] [ 15.4

Reply #12

JADELottery — Tue, 03 Oct 2023 11:42:52 GMT

Powerball's 4+0, 3+1 3+0 payouts haven't changed since its beginning way back in 1992; the 2+1, 1+1 0+1 are willfully mediocre at best, but the odds have gone up.

In addition to the doubling of the cost to play; triple if you chose the multiplier, is really a loosing bet.

Unless the multiplier is at least x3 or better, no way; as we can see the Powerball loves its x2.

At least Mega Millions has made changes to these payouts and its multiplier gives some hope; so, we tend to play that... [ More ]

Reply #11

Wavepack — Mon, 02 Oct 2023 20:46:27 GMT

Jackpot junkie -- thanks for posting that.

I posted a few public service announcements in the PB news threads:

If you want to mazimize your lifetime total PB losses, you should choose the powerplay option. Why? Because expected total loss far exceeds expected total wins.

Ex. Playing 3 powerplay tickets per draw for 50 years results in a 99% chance of being down $19,600. The odds of NOT hitting 5 or 6 balls during a lifetime of this PB play is about 99%.

Reply #10

JADELottery — Mon, 02 Oct 2023 14:24:48 GMT

As of 2023-10-02

Yes [ 9 ] [ 81.8% ]

Some [ 0 ] [ 0.0% ]

No [ 2 ] [ 18.2

Reply #9

Ranett — Sun, 01 Oct 2023 23:50:05 GMT

I spend less on both games these days. The matrix payouts on both games make them unappealing.

Reply #8

JADELottery — Sun, 01 Oct 2023 22:08:30 GMT

Oh, this has been running through my mind lately:

Foreigner Parody of Foreiger's Juke Box Hero

Called - Jack Pot Junkie

Standing in the line, with his hands held low.

Trying to get a ticket, it was a big prize show.

Saw the soar of the load, he could imagine the gleem.

Put his mind to the wow, then like a familiar dream.

He saw one jack high, just knew right away.

He saw Pie - In - The - Sky, and the very next Draw.

Bought a system six l... [ More ]

Reply #7

JADELottery — Sun, 01 Oct 2023 21:25:20 GMT

Spoken like a true Jackpot Junkie.

Reply #6

JADELottery — Sun, 01 Oct 2023 21:24:32 GMT

As of 2023-10-01

Yes [ 8 ] [ 80.0% ]

Some [ 0 ] [ 0.0% ]

No [ 2 ] [ 20.0

Reply #5

Brock Lee — Fri, 25 Aug 2023 18:41:04 GMT

only gambling addicts care about the petty lower prizes. eliminate them and divert the money to the bigger prizes.

Reply #4

Wavepack — Fri, 04 Aug 2023 23:20:32 GMT

Not only should the lower tier payouts better reflect the odds, they should better reflect the ticket price doubling.

Thanks for posting this payout and odds history.

Another useful history would be the (total player payout) / (total player cost). ie, what's the % of player money, in aggregate, that gets siphoned away from them playing these lose-a-lot lotteries.

Some more useful tidbits:

For Mega Millions,

93.5% expected loss, no megaplier, 3 or less ball hits

92.2% expe... [ More ]

Reply #3

JADELottery — Fri, 04 Aug 2023 19:29:57 GMT

Oh My Good Nips, Dra-mer...

Reply #2

CDanaT — Fri, 04 Aug 2023 18:07:08 GMT

There ya go G5....I voted opposed ya...just for S G

Reply #1

GiveFive — Fri, 04 Aug 2023 18:01:11 GMT

I'm the lone vote so far in the poll. They should enhance the lower tier payouts, but they know they don't have to do it, so they won't.

What they all too well understand is players will to continue to buy tickets even if they make changes that are great for them, but aren't good for players. G5

Powerball & Mega Millions: A History

JADELottery — Fri, 04 Aug 2023 14:28:22 GMT

Powerball History

Dates Matrix Multiplier Cost Jackpot Odds Jackpot Annuity Minimum Jackpot Maximum Jackpot

The Power Play

1992-04-22 to 1997-11-01 5/45 and 1/45 None $1.00 1 : 54,979,155 20 Year $2,000,000 $111,240,463

1997-11-05 to 2001-03-03 5/49 and 1/42 None $1.00 1 : 80,089,128 25 Year $10,000,000 $295,700,000

2001-03-07 to 2002-10-05 5/49 and 1/42 BDN x1 - x5 $1.00 1 : 80,089,128 25 Year $10,000,000 $295,000,000

2002-10-09 to 2005-08-27 5/53 and 1/42 BDN x2