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Powerball/Mega Milions Jackpots

Topic closed. 37 replies. Last post 12 years ago by MMGuy.

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Should Powerball and/or Mega Millions raise the starting jackpot to $20 million?

Yes. [ 18 ]  [64.29%]
No. [ 10 ]  [35.71%]
Total Valid Votes [ 28 ]  
Discarded Votes [ 1 ]  
RJOh's avatar - chipmunk
mid-Ohio
United States
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Posted: January 31, 2005, 7:37 pm - IP Logged

Quote: Originally posted by dvdiva on January 31, 2005



While I agree that players can wait for a larger jackpot is the way to go, waiting for 3 years is a bit much (the last time a jackpot was 300 miilion).





If you're waiting for a lottery jackpot of $300M, you've got a long wait and you won't play very often.

RJOh

 * you don't need to buy more tickets, just buy a winning ticket * 
   
             Evil Looking       

    dvdiva's avatar - 8ball

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    Posted: February 1, 2005, 3:01 pm - IP Logged

    No kidding. Considering the odds it's too long of a wait

      twisted's avatar - underground
      New Jersey
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      September 25, 2003
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      Posted: February 1, 2005, 3:21 pm - IP Logged

      Hopefully California will join either PB or MM soon. The commissioners are going to vote on paving the way for California to join a multi-state lottery. (http://www.calottery.com/about/lotterycommission/commissionschedules/050208.html)



      Inclusion of California will maybe bring faster increases in the jackpot and maybe even higher jackpots. I'm keeping my fingers crossed.


        United States
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        June 5, 2002
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        Posted: February 1, 2005, 5:51 pm - IP Logged

        I would prefer CA joining Powerball because MUSL "requires" that its members allow the cash/annuity choice to be made AFTER winning.

          dvdiva's avatar - 8ball

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          Posted: February 2, 2005, 2:24 am - IP Logged

          I would hope after joining they change the game otherwise they would have to call it the 10 million dollar lottery because that would be the top prize before it's hit.


            United States
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            Posted: February 3, 2005, 11:23 am - IP Logged

            diva:

            CA joining actually would mean more rollover cycles, thus creating more chances for big jackpots.

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              Morrison, IL
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              Posted: February 3, 2005, 12:40 pm - IP Logged

                Yes, but then they would probably have to jack up the odds to at least 1 in 150 million!

                Maverick's avatar - yinyang
                USA
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                Posted: February 3, 2005, 9:00 pm - IP Logged
                Quote: Originally posted by CASH Only on January 31, 2005


                I _do_not_ recommend NY Lotto since only 38%-40% is returned in the form of prizes.


                You won't give a rats a** about that if and when you win 1st prize
                  Avatar

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                  Posted: February 3, 2005, 9:56 pm - IP Logged
                  Quote: Originally posted by Maverick on February 3, 2005

                  Quote: Originally posted by CASH Only on January 31, 2005

                  I _do_not_ recommend NY Lotto since only 38%-40% is returned in the form of prizes.




                  You won't give a rats a** about that if and when you win 1st prize






                  (insert signature here)

                    dvdiva's avatar - 8ball

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                    Posted: February 4, 2005, 1:19 am - IP Logged

                    Cash: They said the same crap about megamillions when Texas and New York joined mega. In reality more players equalls a smaller average pot. Something the people working at these games fail to realize.

                      hypersoniq's avatar - 8ball
                      Pennsylvania
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                      Posted: February 4, 2005, 7:55 pm - IP Logged

                      If I am not going to win 10Million or not going to win 20Million, I'd rather go for the 20Million.... BUT, not at the expense of a forced $2 ticket...

                      $10,000,000 would work for me... If they change it they might go "Pennsylvania" on us and up the price of admission.

                      Playing more than one ticket per game is betting against yourself.

                        Annual Payments's avatar - annual 20payments.jpg
                        Houston, TX
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                        Posted: February 4, 2005, 8:16 pm - IP Logged

                        Everyone's so against the NY Lotto.  I look at it like this:  If you don't play, you can't win.  If I were in NY I'd play it =)

                          dvdiva's avatar - 8ball

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                          Posted: February 5, 2005, 12:33 am - IP Logged

                          I agree hypersoniq changing the price to $2 is the one thing they should NOT do.

                            ayenowitall's avatar - rod serling4.jpg

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                            Posted: February 5, 2005, 6:36 am - IP Logged

                            What on earth would the average lottery player even do with 300 million dollars or more? My guess would be that they'd just get themself into a world of problems. Personally, I could do very well on a lot less than even ten million dollars.

                            If the purpose of games like PB and MM is to have super-sized jackpots, then it's a bit like a dog chasing its own tail. The purpose of the larger jackpots is to draw more players to the game, and having more players means that the jackpot will be hit more often. That means that the average jackpot hit will be lower over time.

                            I don't think the starting jackpot needs to be raised to $20 million, but if they just want to advertise larger jackpots, they can simply extend the term of annuity payments. That way the current handle would yield a bigger jackpot and any increase in handle would make an even bigger jackpot. While they're at it, they could extend the term of annuity payments beyond the range of human life expectancy so that even an idiot would be forced to take an even smaller lump sum cash option payment.

                            On second thought, let's not be so greedy. 

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                              Posted: February 5, 2005, 10:57 pm - IP Logged

                              $10 million is a huge amount of money to me, but I hope the figure realistically reflects sales. It should be a minimum, and raised if sales warrant.

                              Do I personally need $300 million? No, of course not, no one does. But I would view myself as caretaker of the money and use it to help people, not just to live decadently in the lap of luxury. The world is full of suffering people in awful situations who could really benefit from that money if you felt you won too much.

                              I am really not concerned that the jackpot reach $300+ million again. If it does, okay that's interesting, but if not so what?