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Smaller jackpot rollovers

Topic closed. 7 replies. Last post 8 years ago by justxploring.

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justxploring's avatar - villiarna
Wandering Aimlessly
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Posted: June 21, 2008, 4:16 am - IP Logged

Has anyone noticed that since the FL Lottery started the Lotto Plus promotion the jackpots haven't increased as much?  Sometimes it seems as if the lower tier prizes are also lower.  Maybe it's just the economy, but tonight MegaMoney was $500K and nobody won so it increased to $750K.   I've never seen it roll to $750K. It just looked strange to me.  Usually the next jackpot is $800K and I've seen $900K during Season. 

(for the members reading this who don't live in FL, we have 2 seasons here called "Season" and "Off-Season")

I can't ever recall a MM jackpot that wasn't rounded to the nearest $100,000.  It would be the same as if Lotto was $3M and rolled to $5.5M instead of $6M.  

    DC81's avatar - batman39
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    Posted: June 21, 2008, 4:55 am - IP Logged

    How does it work there again? Is it just a 10M bonus for the $2 and 25M bonus for the $3 play or is there a system to it? It sounds like they've done that just incase someone wins and has chosen a $3 play they won't have to pay out as much with the initial jackpot, as well as an attempt to bait people more into spending more for the Plus option. I think maybe they've shot themselves in the foot with that, especially if it gets hit frequently without a solid build up to be able to back it up.

    You can't predict random.

      justxploring's avatar - villiarna
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      Posted: June 21, 2008, 5:06 am - IP Logged

      Yes, it's all paid in a lump sum (or 30 yr annuity if chosen) but in addition to the jackpot, the winner will get $10M more for spending an extra dollar and $25M bonus for spending an extra $2. 

      It sounds like they've done that just incase someone wins and has chosen a $3 play they won't have to pay out as much with the initial jackpot,

      Not sure I understand what you mean.   

      especially if it gets hit frequently without a solid build up to be able to back it up.

      I agree, but so far nobody has won playing $3, although it only began in March.   One winner did play $2 and got the $10M bonus, so he got $16M instead of the base $6M jackpot.  He chose the lump sum and he got about $9M before tax.   There was a news story posted on LP. 

        DC81's avatar - batman39
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        Posted: June 21, 2008, 3:06 pm - IP Logged

        Whoops, I should have reread my post and fixed that. What I think I meant is they're trying to keep the initial jackpot lower while probably hoping the winner is only a $1 winner (while still having a lot of people playing for $2 and $3) so they don't have to pay the bonus (while still keeping the rolls lower) and they get to keep more money which will probably need to be "saved" for if someone does hit with the $3 Plus option.. I see their also either hoping it means people will buy the same number of tickets as they did before but with the Plus option or less tickets and with the Plus option so the player is paying the same but having less numbers to play with. So it'd either increase revenue or the number of rolls and bring more attention to it and get more people to play, which would also increase revenue and at a point make it so that even if the winner had the $3 option, they'd still come out ahead.

         

        I remember the story and I do wonder if the state lost money on that. Does Florida post their sales numbers on their site or anywhere?

        You can't predict random.

          justxploring's avatar - villiarna
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          Posted: June 21, 2008, 11:32 pm - IP Logged

          I don't know, but if you go to their web site, they have a site index.   

           

          Look at the winning numbers tonight!   4 numbers in the 40s! 

          8-29-40-42-43-45   

           

          I started this thread discussing MegaMoney because of the $750K jackpot.  The FL Lotto just rolled from $9 to $12 million which is 'normal' this time of year.   I think MM has lost a lot of players.  I don't think it's as popular as other FL games.

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            Posted: June 23, 2008, 2:26 pm - IP Logged

            I don't know, but if you go to their web site, they have a site index.   

             

            Look at the winning numbers tonight!   4 numbers in the 40s! 

            8-29-40-42-43-45   

             

            I started this thread discussing MegaMoney because of the $750K jackpot.  The FL Lotto just rolled from $9 to $12 million which is 'normal' this time of year.   I think MM has lost a lot of players.  I don't think it's as popular as other FL games.

            I agree with  you about MegaMoney.  I saw it rolled to 750K and I thought it was strange as well because I have never seen that amount either.  I would be curious to know if it is as popular anymore especially with the number of winners who win daily with Fantasy 5.

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              Posted: June 23, 2008, 2:48 pm - IP Logged

              Whoops, I should have reread my post and fixed that. What I think I meant is they're trying to keep the initial jackpot lower while probably hoping the winner is only a $1 winner (while still having a lot of people playing for $2 and $3) so they don't have to pay the bonus (while still keeping the rolls lower) and they get to keep more money which will probably need to be "saved" for if someone does hit with the $3 Plus option.. I see their also either hoping it means people will buy the same number of tickets as they did before but with the Plus option or less tickets and with the Plus option so the player is paying the same but having less numbers to play with. So it'd either increase revenue or the number of rolls and bring more attention to it and get more people to play, which would also increase revenue and at a point make it so that even if the winner had the $3 option, they'd still come out ahead.

               

              I remember the story and I do wonder if the state lost money on that. Does Florida post their sales numbers on their site or anywhere?

              There's absolutely no reason that the lottery would try to keep the base level jackpot low. The bigger the jackpots  the more tickets they sell.  Of course there's a chance that they will lose money on the  bonus jackpots, but that's similar to the chances that you'll make money on your ticket. Sometimes you win and they lose, but mostly you lose and they win. In the long run they can expect the results to follow probability, and they'll pay out the bonus jackpots in proportion to the number of people who play for the bonus, which makes them the 50% profit suggested by probability. The extra $1 or $2 goes into the prize pool for the bonus, and every time they have a drawing without a bonus winner that money rolls over to the next drawing.  I've got no idea how many people are playing for the bonus jackpots, but so far every dollar they've collected for the $2 bonus is still in their account.

                justxploring's avatar - villiarna
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                Posted: June 23, 2008, 2:55 pm - IP Logged

                There was one $2 winner who got $16M instead of $6M.   I'm surprised to hear that many people do play $2 and $3.  (I asked a clerk.) Yesterday I heard a man say "give me 2 $3 tickets and 2 $2 tickets."  Obviously, he had $10 to bet.  I guess he figured one QP might be luckier than another QP.

                Hey, I'm not judging..I do crazy things all the time.  Sometimes I pick 2 numbers and let the terminal pick the others.  However, I think I'd rather buy 10 $1 tickets, or spend money on another game, but it's his choice!  Lotto Plus hasn't been around for very long, but it will be interesting if they ever show how many $2 and $3 tickets are played vs $1 tickets.   With the millions of tickets sold every week, do you think this information is tracked?