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Powerball Jackpot

Topic closed. 7 replies. Last post 5 years ago by RJOh.

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United States
Member #100930
November 21, 2010
16 Posts
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Posted: February 2, 2012, 2:09 am - IP Logged

With the tickets doubling in price I am not seeing the huge gains in the jackpot that I expected. Did half the players stop buying? 

I was really expecting it to go to at least 225 million.

    NightStalker's avatar - 50logo
    East of Columbus, OH
    United States
    Member #120843
    December 28, 2011
    451 Posts
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    Posted: February 2, 2012, 8:28 am - IP Logged

    I'm guessing that people are not playing quite as much as they were playing.  How many times to people go into a convenient store buy a couple of things and then add a  $1 lottery ticket to round out a $5, $10, or $20?  I used to do that a couple of times a week, in addition to my other plays.  Not as much now.

    Life's Too Short To Be Unhappy Cool

      Uff Da!'s avatar - InCelebration 001.jpg
      Washington State
      United States
      Member #33973
      February 26, 2006
      347 Posts
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      Posted: February 2, 2012, 10:03 pm - IP Logged

      I'm one of those who has not played PB since the price went up.  A couple of weeks ago I asked for $5 in PB tickets, but when the clerk reminded me that the price of tickets had doubled, I said "Forget it."  I've just stuck to MM and state lottery since.  So over the past couple of weeks, I'd probably have contributed about $20 to PB had the price not gone up.  I'm sure there are plenty of others like me.  But no doubt there are also some people to buy the same number of tickets, regardless of the price.  Personally, I'll probably still buy PB tickets at some point.  I'm guessing it will take at least a cash value of $150million before I'll fork over some dough, whereas I used to do it at about $50 million cash value.

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        United States
        Member #24439
        October 22, 2005
        638 Posts
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        Posted: February 3, 2012, 12:59 am - IP Logged

        I keep wanting to play but when I think that I wouldn't be happy matching 4 + 0, I say to myself forget it I can wait. I believe the game is designed for huge jackpot players and they do not build jackpot. Besides, people are not spending $1 more for the multiplier. They play the minimum they can to be in the game as there is few $2 million winners. People want to lose as little as possible. like myself, losing is on my mind now when I play.

          Avatar
          NY
          United States
          Member #23835
          October 16, 2005
          3502 Posts
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          Posted: February 3, 2012, 2:09 am - IP Logged

          The recent jackpot progression has been 100, 120, 146, 170, 200. The last time it hit 200 was last October, when the progression was 105, 124, 148, 173, 203 (then 254).  Earlier ones have slighty different jackpot amounts, but similar increases. Since the amount of each ticket sale that goes to the jackpot is now about double it would appear that they're selling about half as many tickets.

          According to lottoreport dot com sales figures for the same progressions increased about 21%, 16%, 21% and 16% with the new $2 price.  That would mean recent tickets sales were about 60%, 58%, 60% and 58% of what they used to sell. I'm not sure why there seems to be a discrepancy between jackpot increases and the reported sales amounts, but interest rates have probably changed a bit. If it was easier to look at the cash value we might see that the real jackpot increases are abetter match with the reported sales.

            RJOh's avatar - chipmunk
            mid-Ohio
            United States
            Member #9
            March 24, 2001
            19900 Posts
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            Posted: February 3, 2012, 2:48 am - IP Logged

            I've played lotteries for years and can remember when the odds printed on the play slips were based on the price to buy all the possible combinations.  For example when Ohio had a 6/55 game and the real odds of winning the jackpot were 1:28,989,675, it was printed as 1:14,494,837 on the play slips since 2 boards cost a dollar and when they later went to a dollar per board with a 6/49 game, the odds printed on the play slips were 1:13,983,816.  Now that PowerBall cost $2 per play I can't think of the odds of winning its jackpot as 1:175,223,510 but rather as 1:3,504,470,020 which makes playing MM and the local lottery more attractive now.

             * you don't need to buy more tickets, just buy a winning ticket * 
               
                         Evil Looking       

              savagegoose's avatar - ProfilePho
              adelaide sa
              Australia
              Member #37136
              April 11, 2006
              3316 Posts
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              Posted: February 3, 2012, 4:06 am - IP Logged

              I've played lotteries for years and can remember when the odds printed on the play slips were based on the price to buy all the possible combinations.  For example when Ohio had a 6/55 game and the real odds of winning the jackpot were 1:28,989,675, it was printed as 1:14,494,837 on the play slips since 2 boards cost a dollar and when they later went to a dollar per board with a 6/49 game, the odds printed on the play slips were 1:13,983,816.  Now that PowerBall cost $2 per play I can't think of the odds of winning its jackpot as 1:175,223,510 but rather as 1:3,504,470,020 which makes playing MM and the local lottery more attractive now.

              i think you meant  , 1:354,470,020 now

              2014 = -1016; 2015= -1409; 2016  = -1171; 2017 = ?  TOT =  -3596

              keno historic = -2291 ; 2015= -603; 2016= -424; 2017 = ? TOT = - 3318

                RJOh's avatar - chipmunk
                mid-Ohio
                United States
                Member #9
                March 24, 2001
                19900 Posts
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                Posted: February 3, 2012, 7:35 pm - IP Logged

                i think you meant  , 1:354,470,020 now

                Whoop!, I misspoke as Rommey might say.

                Over the years I have seen the values of lottery games jackpots reach the amounts it would cost to buy every combinations but I will really be surprised if a PB jackpot ever amounts to $354,470,020 even with its 30 years annuity plan, but if I do I will buy a ticket.

                 * you don't need to buy more tickets, just buy a winning ticket * 
                   
                             Evil Looking