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Powerball now has the potential...

Topic closed. 10 replies. Last post 8 years ago by jr-va.

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Bradly_60's avatar - disney37
Atlantic Mine, Michigan
United States
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June 23, 2002
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Posted: January 11, 2009, 11:36 am - IP Logged

Powerball now has the potential to hit the massive jackpot amounts we once thought was possible.  But I guess wait, they have that $25M increase rule so maybe not.  This game has not sold more than $100M tickets in a single drawing since February or 2006.  Almost three years now.  The odds are almost 1 in 200,000,000.  It would definetly seem possible for them to start hitting higher amounts more frequently even with the addition of Florida.  We could see our first $400M jackpot soon. 

Brad

    TotallyDavis's avatar - Lottery-061.jpg
    New Member
    North Charleston, SC
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    January 6, 2009
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    Posted: January 11, 2009, 7:18 pm - IP Logged

    Yeah, but I don't understand.

    Let's say that $100 million in tickets are sold for a high jackpot.  But the jackpot can only increase by $25 million, right?

    And perhaps there's $10 million in other prizes given out.

    So, Powerball just pockets the other $65 million?  Or more?  Even if more is supposed to go to the jackpot amount?

    Ridiculous.

     

    I know about the 'record jackpot' rule that states that extra money can go into a bonus pool, but that only applies to record jackpots.  I wonder if they are just allowed to pocket the excess monies from regular jackpots?

      dvdiva's avatar - 8ball

      United States
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      Posted: January 12, 2009, 12:29 am - IP Logged

      While it can hit a new jackpot level I doubt it will this jackpot run. Remember Megamillions added a larger state and increased it's odds but did not have a record jackpot until 21 months later.

        Avatar
        NY
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        October 16, 2005
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        Posted: January 12, 2009, 2:34 am - IP Logged

        Yeah, but I don't understand.

        Let's say that $100 million in tickets are sold for a high jackpot.  But the jackpot can only increase by $25 million, right?

        And perhaps there's $10 million in other prizes given out.

        So, Powerball just pockets the other $65 million?  Or more?  Even if more is supposed to go to the jackpot amount?

        Ridiculous.

         

        I know about the 'record jackpot' rule that states that extra money can go into a bonus pool, but that only applies to record jackpots.  I wonder if they are just allowed to pocket the excess monies from regular jackpots?

        There is no limit to how much the jackpot can increase until the jackpot exceeds the existing record. Right now that record is 365 million. In theory, people could go crazy over the next 3 days and buy 400 million tickets. If that happened, the cash value would increase by about  $128 million, which would mean an increase in the annuity value of about 218 million. That would result in an advertised jackpot of 364 million. If 500 million tickets were sold there would be an extra 32 million cash, which would be enough to increase the annuity to 418 million if the cap wasn't in force. Since the cap would be in force, the advertised jackpot would be 390 million. The extra cash, about 16.7 million, would go to the bonus prize.

        FWIW, since the cash value is a higher percentage of the annuity value than it has been for some time, the cap is effectively more than it was in the past, unless the winner chooses the annuity.

          justxploring's avatar - villiarna
          Wandering Aimlessly
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          Posted: January 12, 2009, 3:51 am - IP Logged

          FYI - When Florida began selling lottery tickets in 1988, records were broken for the most tickets ever sold by a new state lottery.  Now the Florida Lottery is reporting we've done it again!

          The Florida Lottery today announced that POWERBALL® ticket sales for the first drawing totaled $7,730,306; more than any other state's first draw sales in POWERBALL history. In fact, Florida POWERBALL sales more than doubled the previous record held by North Carolina when it launched POWERBALL in 2006.

            Guru101's avatar - rw6jhh
            Indiana
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            January 7, 2007
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            Posted: January 12, 2009, 3:52 am - IP Logged

            I think we'll be seeing a $390m jackpot soon, enabling Powerball to then reach jackpots of $400m+.

            Gonna win.Big Smile

              psykomo's avatar - animal shark.jpg

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              Posted: January 13, 2009, 12:17 am - IP Logged

              FYI - When Florida began selling lottery tickets in 1988, records were broken for the most tickets ever sold by a new state lottery.  Now the Florida Lottery is reporting we've done it again!

              The Florida Lottery today announced that POWERBALL® ticket sales for the first drawing totaled $7,730,306; more than any other state's first draw sales in POWERBALL history. In fact, Florida POWERBALL sales more than doubled the previous record held by North Carolina when it launched POWERBALL in 2006.

              God all mighty JXP:

              UR>>>>sit'g on gold mine!!!

              kant get mucho denero$$$

              lol>>>>>@>>>>>least 2-U!!!!

              PSYKOMO

                psykomo's avatar - animal shark.jpg

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                Posted: January 13, 2009, 12:32 am - IP Logged

                Powerball now has the potential to hit the massive jackpot amounts we once thought was possible.  But I guess wait, they have that $25M increase rule so maybe not.  This game has not sold more than $100M tickets in a single drawing since February or 2006.  Almost three years now.  The odds are almost 1 in 200,000,000.  It would definetly seem possible for them to start hitting higher amounts more frequently even with the addition of Florida.  We could see our first $400M jackpot soon. 

                Brad

                Brad??????????

                will Powerball save D chillion?????

                will Powerball feed D hungry?????!

                ??????????????????????????????!

                as jackpot >>>>PLAYER'sssssss!!!!

                do we know anything R how-2-????

                control>>>>>>>our "MONOSTER"?!

                now that BUSH is dead<<<<<<<!!!!!

                !!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!

                WHO can we "BLAME"???????????

                PSYKOMO


                  Kidzmom's avatar - cold
                  NC
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                  February 23, 2005
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                  Posted: January 13, 2009, 12:49 am - IP Logged

                  Is there a cut off amount that the Powerball can rise to?  It would be great if the jackpot could reach

                  1 Billion dollars!!! Yeah I know wishful thinking. lol

                  Be kind to a stranger because you never know when you are talking to an angel.Blue Angel

                   

                  KZM

                    BuyLow's avatar - palm tree.jpg
                    Florida
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                    May 22, 2008
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                    Posted: January 13, 2009, 9:34 am - IP Logged

                    Brad??????????

                    will Powerball save D chillion?????

                    will Powerball feed D hungry?????!

                    ??????????????????????????????!

                    as jackpot >>>>PLAYER'sssssss!!!!

                    do we know anything R how-2-????

                    control>>>>>>>our "MONOSTER"?!

                    now that BUSH is dead<<<<<<<!!!!!

                    !!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!

                    WHO can we "BLAME"???????????

                    PSYKOMO


                    Don't worry Nobama will give us CHANGE...too bad he says we won't like it and it will be unpopular.  Wonder what that means? Puke

                      Avatar

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                      December 7, 2008
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                      Posted: January 13, 2009, 11:44 am - IP Logged

                      when it reaches a  fourth of a  $ Billion  they should make the second prize $500,000 , about twice as much as the Mega Millions, not lower !

                       

                       

                      they also need to get rid of all the lowest prizes less than $5