|Posted: January 27, 2005, 10:21 pm - IP Logged|
Most players are pretty much oblivious or indifferent to the odds of the big jackpot games like Powerball and Mega Millions. If the odds made much of a difference to any of us, we probably wouldn't be playing these games at all because we'd be concerned about the huge disparity between odds of the games and the payoff odds, particularly for the secondary prizes. Most people recoginze that dumb luck is a huge factor and they just hope that luck will smile on them.
I wouldn't think it wouldn't be very smart in the case of either game to raise the price of tickets. It's just not a good PR move. I don't think it's a player affordability issue because people who couldn't afford the increase probably don't have any business playing anyway. Most players would continue to spend just as much or more. I think it's more likely that the games would extend the term of annuity payments to forty or fifty years. This would effectively increase the cost to players without overtly raising ticket prices. That way they could advertise larger jackpots for the same amount of money that they're currently handling. And jackpot winners who might select the cash option would get an even smaller cash value payment compared to current cash values.