We have lost our lottery here in New Jersey in the struggle over our budget.
I question whether cutting a source of revenue is a good idea under the circumstances (will New Jersey stop collecting taxes?) but I do understand that we need to dramatically reassess how we pay for our government here. It is painful but necessary.
In any case, I hae made a rough calculation of how the two factors continue to weigh down the MM jackpot growth will play out. New Jersey will be eliminated from the next drawing. It was the third largest selling state, responsible for 1.44 million in sales. Some of these sales may be recovered in New York for people who either commute to NY or live close to the border with NY, but this will be a fraction, and I will treat the NJ sales loss as being 100%.
Californians have not stopped buying MM tickets, but they are obviously buying fewer. I estimate crudely that they will buy 10% fewer tickets than they bought in the last 2nd drawing, which also had a large in state jackpot. Thus I estimate they will still buy about 2.0 million MM tickets.
Thus if the jackpot rolls again, based on the other know factors, I'm going to guess that the jackpot should go about about 6 million dollars annuity.
Note that in recent times, the jackpot has risen fast enough to reach 20 million annuity on the second drawing.
MM will grow slower than we are used to, but it will still grow.