Mega millions invention...
August 29, 2005
|Posted: April 23, 2006, 1:37 am - IP Logged|
hi, doesn't anyone knows, how mega million was invented?They must have done research on it before exposing it to the public (i am talking research payouts & odds, etc) I mean i don't think the state overnight said, let's create a game? i bet it took careful research. How did they figure out, what was going to be the payout for second and lower prizes.
March 24, 2001
|Posted: April 23, 2006, 1:50 am - IP Logged|
MegaMillions lottery started out as the BigGame lottery which was created to compete with the PowerBall lottery which was an improvement of an earlier multi-state game. When The BigGame expanded to include Ohio and New York, it became MegaMillions.
* you don't need to buy more tickets, just buy a winning ticket *
Zeta Reticuli Star System
January 17, 2006
|Posted: April 23, 2006, 1:52 am - IP Logged|
Mega Millions and Powerball are both two lotteries in one. If you "get struck by ligthning" and get 5 of 5 on the top grid of numbers, then you have to hope you have the right number on the bottom, too, the Mega numger or the Powerball number.
August 29, 2005
|Posted: April 23, 2006, 2:48 am - IP Logged|
thank you guys, I knew that the mega millions had come from the Big game. But what was the name of the earlier multi-state game that powerball stemed from? What year are we talking about here?
Yinzer Country, PA
March 18, 2004
|Posted: April 23, 2006, 5:25 am - IP Logged|
Back in 1992, Lotto America (formed in the 1980s) was replaced by Powerball.
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May 13, 2004
|Posted: April 23, 2006, 1:13 pm - IP Logged|
Yep, Mega Millions was formed to stop the money drain on big state lotteries due to Powerball having larger jackpots than theirs. Lotto America, Powerball's predecessor, was originally formed by six small state lotteries to compete with the big state lotteries' jackpot games, since the small state lotteries could not afford to have rolling jackpot games all by themselves.
June 18, 2003
|Posted: April 23, 2006, 3:00 pm - IP Logged|
How did they figure out, what was going to be the payout for second and lower prizes.
They structured the games payouts around predicted sales. Which include everything from operating costs, profit money for the state and anything else that they deemed necessary. Apparently there is a mathematical formula they use to determine the odds and the payouts. When they add or subtract balls/numbers for the drawings (change the matrix of the game) they recalculate the drawings odds and payouts using that formula.