Welcome Guest
Log In | Register )
You last visited December 6, 2016, 7:06 am
All times shown are
Eastern Time (GMT-5:00)

How does the POWERBALL lottery estimates its estimated jackpot?

Topic closed. 3 replies. Last post 7 years ago by KY Floyd.

Page 1 of 1
PrintE-mailLink
Avatar
Eden Prairie, MN
United States
Member #49875
February 18, 2007
63 Posts
Offline
Posted: June 26, 2009, 3:26 pm - IP Logged

Well,I read that for example,if I were to buy a ticket for one drawing and its estimated jackpot is $20 million.  The ticket that I brought for that drawing actually help to contribute to the estimated jackpot.

The reason is how does the POWERBALL lottery able to reset itself to an estimated jackpot of $20 million every single time,since before the new changes it was $15 million? 

Since,the drawing after the initial drawing for the $20 million only goes up by $5-$15 million on average,so there is a big difference in term of the jackpot amount.

    Todd's avatar - Cylon 2.gif
    Chief Bottle Washer
    New Jersey
    United States
    Member #1
    May 31, 2000
    23261 Posts
    Offline
    Posted: June 26, 2009, 3:45 pm - IP Logged

    <Moved to Jackpot Games forum>

    Please post in the appropriate forum ... thank you.

      Avatar

      United States
      Member #24439
      October 22, 2005
      638 Posts
      Offline
      Posted: June 26, 2009, 4:14 pm - IP Logged

      My educated guess would be that the starting jackpot comes from a reserve.

      The estimated jackpots comes from experience, previous results etc ie at a jacpot level how many people will buy ticket and average number of tickets.

        Avatar
        NY
        United States
        Member #23835
        October 16, 2005
        3474 Posts
        Offline
        Posted: June 30, 2009, 2:20 am - IP Logged

        " the starting jackpot comes from a reserve."

        Occasionally that's true, but the starting jackpot isn't paid very often.  Most of the time the jackpot rolls at least a few times before there is a winner, and by that time the jackpot prize pool is well above the minimum levels. For the first drawing or two sales won't cover the jackpot, but for the next few drawings part of the sales will be used to cover that shortfall instead of increasing the jackpot. Once the full jackpot is covered, all of the sales can be used to increase the jackpot.