Welcome Guest
Log In | Register )
You last visited January 22, 2017, 11:19 pm
All times shown are
Eastern Time (GMT-5:00)

$2 PB Jackpots Now Rising More Slowly Than $1 PB Jackpots Did.

Topic closed. 27 replies. Last post 5 years ago by DC81.

Page 1 of 2
51
PrintE-mailLink
Avatar
New Jersey
United States
Member #21206
September 4, 2005
949 Posts
Offline
Posted: June 3, 2012, 8:37 am - IP Logged

We have now completed an 11th rollover and have a powerball jackpot at $177M.   A relatively recent example of the Powerball $1 jackpot system was between April 27, 2011 and June 01, 2011 where at the same point the jackpot was $200M.   (It was won at that point.)

Bigger and better may not be bigger and better all the time.

By playing fewer tickets people are getting less positive feedback with the small wins, I think, and over the long term this may cause enthusiasm for Powerball to decline further.

    maximumfun's avatar - Lottery-030.jpg
    Lavender Rocket

    United States
    Member #124616
    March 16, 2012
    2642 Posts
    Offline
    Posted: June 3, 2012, 1:56 pm - IP Logged

    Very likely true Prob988.  It should be won this next time... 2 tickets each with just over 60M value...  and if it is, it will really hurt PB.

    What PB is hoping (desperately) is to have a run that will make **IT** top dog - bigger than MM's run earlier this year!

    Chaos theory would give the nod back to MM to have another big run and secure its top billing.

      RJOh's avatar - chipmunk
      mid-Ohio
      United States
      Member #9
      March 24, 2001
      19903 Posts
      Offline
      Posted: June 3, 2012, 2:27 pm - IP Logged

      It's becoming clearer every drawing that the newest version of PB can't sell the number of tickets it once did as long as it's completing against MM with similar odds and payouts for half the price.

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

        maximumfun's avatar - Lottery-030.jpg
        Lavender Rocket

        United States
        Member #124616
        March 16, 2012
        2642 Posts
        Offline
        Posted: June 3, 2012, 3:09 pm - IP Logged

        It's becoming clearer every drawing that the newest version of PB can't sell the number of tickets it once did as long as it's completing against MM with similar odds and payouts for half the price.

        I Agree!

          Lucky Loser's avatar - bucks
          Texas
          United States
          Member #86154
          January 30, 2010
          1654 Posts
          Offline
          Posted: June 3, 2012, 3:55 pm - IP Logged

          Well, let's here...and analyze a bit. Now gas prices can go up and we get less gas for the same dollar but, this cool with Lucky 'cause Yes NodI GOTTA HAVE ITYes Nod to get around. Same with food...I gotta eat. No NoI DO NOT HAVE TO HAVENo Nod POWERALL IN MY LIFE...and for this matter, Mega Millions either with these odds. They seem, in my opinion, to be comparing these games to actual necessities in life! WTF are they smoking? 

          This would be the opportune time to take a stand against all this madness.Patriot Why would any even reasonably thinking person agree to spend more money for the same oddsWhat? Where's the fun in that?Thumbs Down What's so exciting about it as they claimed it would be?Thumbs Down If you don't stand for something, you'll fall for anything.Thud

           

          L.L.

            weshar75's avatar - Lottery-042.jpg
            Mcminnville, Oregon
            United States
            Member #3013
            December 13, 2003
            3095 Posts
            Offline
            Posted: June 3, 2012, 4:00 pm - IP Logged

            I noticed that when the jackpot drawing come last night the jackpot was not even $164 million it was $158.8 million.  So powerball did not even sell enough tickets to get to the advertised jackpot.  So they raised it to $177 million which is a $18.2 million increase hopefully with the 4 days of sales they will be able to get to the advertised jackpot annuity.-weshar75


              United States
              Member #124493
              March 14, 2012
              7023 Posts
              Offline
              Posted: June 3, 2012, 4:28 pm - IP Logged

              It's becoming clearer every drawing that the newest version of PB can't sell the number of tickets it once did as long as it's completing against MM with similar odds and payouts for half the price.

              an easy remedy to the lacking powerball sales is to have those buy 10 get $3 promotions...i personally dont care for those promotions as they "force" you to buy for two draws instead of one...

              but i have seen many a sucker fall for it...and nobody understands it the first time because it really is stupid or illogical

              it would be interesting to see a comparison of sales by state as to revenue with the promotion versus without the promotion..the promotions are not universal.

              Powerball had a promotion last month in New York...but not this month.

              this month its Take five...although i have not "suckered" in to it yet...as i dont like to feel that i am being forced to buy for two draws...

                dallascowboyfan's avatar - tiana the-princess-and-the-frog.jpg
                Oklahoma
                United States
                Member #82391
                November 12, 2009
                6305 Posts
                Offline
                Posted: June 3, 2012, 8:25 pm - IP Logged

                It's becoming clearer every drawing that the newest version of PB can't sell the number of tickets it once did as long as it's completing against MM with similar odds and payouts for half the price.

                Thumbs Up

                I Love Pink & Green 1908

                  maximumfun's avatar - Lottery-030.jpg
                  Lavender Rocket

                  United States
                  Member #124616
                  March 16, 2012
                  2642 Posts
                  Offline
                  Posted: June 3, 2012, 8:55 pm - IP Logged

                  I noticed that when the jackpot drawing come last night the jackpot was not even $164 million it was $158.8 million.  So powerball did not even sell enough tickets to get to the advertised jackpot.  So they raised it to $177 million which is a $18.2 million increase hopefully with the 4 days of sales they will be able to get to the advertised jackpot annuity.-weshar75

                  weshar - i did not notice that the jackpot fell short of the advertised amount.  yikes!  that doesnt happen that often.  yet another good reason to take the cash value (yes i know they purchase an annuity and your money is 'locked' in)... take the money and run!  before PB falls!  No Pity!

                    Avatar
                    NY
                    United States
                    Member #23835
                    October 16, 2005
                    3501 Posts
                    Offline
                    Posted: June 3, 2012, 8:59 pm - IP Logged

                    I noticed that when the jackpot drawing come last night the jackpot was not even $164 million it was $158.8 million.  So powerball did not even sell enough tickets to get to the advertised jackpot.  So they raised it to $177 million which is a $18.2 million increase hopefully with the 4 days of sales they will be able to get to the advertised jackpot annuity.-weshar75

                    I haven't been paying close attention to the relative values of the cash and annuity amounts, but right now PB's cash value is just over 68% of the annuity value. I think it was closer to 65 or even 64% last time I checked. MM is just over 77.8%, which I think is also a bit higher than it was a while back. At 65% the annuity value would be $185.5 million, or $8.5 million more than what we're seeing right now, based on the reported cash value of $120.6 million.

                    The sales figures on <snip> indicate that PB should have had enough for a cash value of about $115 million as of the last drawing. If sales for this drawing match the last one the cash value should be about $130 million instead of the $120.6 that's currently listed.

                    This post has been automatically changed by the Lottery Post computer system to remove inappropriate content and/or spam.

                      Avatar
                      NY
                      United States
                      Member #23835
                      October 16, 2005
                      3501 Posts
                      Offline
                      Posted: June 3, 2012, 9:03 pm - IP Logged

                      Very likely true Prob988.  It should be won this next time... 2 tickets each with just over 60M value...  and if it is, it will really hurt PB.

                      What PB is hoping (desperately) is to have a run that will make **IT** top dog - bigger than MM's run earlier this year!

                      Chaos theory would give the nod back to MM to have another big run and secure its top billing.

                      What makes you think it should be won next time, especially with 2 tickets? If they sell 25 million tickets, which is a fairly reasonable number if the lottoreport figures for the last drawing are correct, there's about a 1 in 7 chance of a winner, and if it is won it would almost certainly be a single winner.

                        maximumfun's avatar - Lottery-030.jpg
                        Lavender Rocket

                        United States
                        Member #124616
                        March 16, 2012
                        2642 Posts
                        Offline
                        Posted: June 3, 2012, 9:20 pm - IP Logged

                        What makes you think it should be won next time, especially with 2 tickets? If they sell 25 million tickets, which is a fairly reasonable number if the lottoreport figures for the last drawing are correct, there's about a 1 in 7 chance of a winner, and if it is won it would almost certainly be a single winner.

                        KYF - I hope you are right!

                          Avatar
                          Morrison, IL
                          United States
                          Member #4657
                          May 13, 2004
                          1884 Posts
                          Offline
                          Posted: June 3, 2012, 11:47 pm - IP Logged

                          I haven't been paying close attention to the relative values of the cash and annuity amounts, but right now PB's cash value is just over 68% of the annuity value. I think it was closer to 65 or even 64% last time I checked. MM is just over 77.8%, which I think is also a bit higher than it was a while back. At 65% the annuity value would be $185.5 million, or $8.5 million more than what we're seeing right now, based on the reported cash value of $120.6 million.

                          The sales figures on <snip> indicate that PB should have had enough for a cash value of about $115 million as of the last drawing. If sales for this drawing match the last one the cash value should be about $130 million instead of the $120.6 that's currently listed.

                          This post has been automatically changed by the Lottery Post computer system to remove inappropriate content and/or spam.

                          In THEORY, the cash value for Powerball would have been $115 million for last night's draw, but in REALITY, it probably was only the $107 million they advertised (the drop in annuity was probably because of falling interest rates), because PB has had to raid their jackpot fund to pay larger than expected payouts for their cash prizes.  Mega Millions is probably doing the same thing with their jackpots now too, because their pot increased by only the minimum $2 million annuity ($1 million cash), even though their sales should have supported a $3 million or $4 million increase in the annuity.

                          ---

                            Lucky Loser's avatar - bucks
                            Texas
                            United States
                            Member #86154
                            January 30, 2010
                            1654 Posts
                            Offline
                            Posted: June 3, 2012, 11:53 pm - IP Logged

                            What makes you think it should be won next time, especially with 2 tickets? If they sell 25 million tickets, which is a fairly reasonable number if the lottoreport figures for the last drawing are correct, there's about a 1 in 7 chance of a winner, and if it is won it would almost certainly be a single winner.

                            I certainly agree with you here. There's never any guarantee for a winner on any draw no matter how many tickets are sold. Each draw is completely separate from the next and a "no winner" streak can actually be indefinite. This is why lotteries enjoy the no winners...all they do is profit off of all the losing tickets sold...especially those who spent hundreds of dollars trying to "rope in" the winning combination.

                            Good post.Thumbs Up

                             

                            L.L.

                              Avatar
                              NY
                              United States
                              Member #23835
                              October 16, 2005
                              3501 Posts
                              Offline
                              Posted: June 4, 2012, 12:05 am - IP Logged

                              In THEORY, the cash value for Powerball would have been $115 million for last night's draw, but in REALITY, it probably was only the $107 million they advertised (the drop in annuity was probably because of falling interest rates), because PB has had to raid their jackpot fund to pay larger than expected payouts for their cash prizes.  Mega Millions is probably doing the same thing with their jackpots now too, because their pot increased by only the minimum $2 million annuity ($1 million cash), even though their sales should have supported a $3 million or $4 million increase in the annuity.

                              AFAIK, they have to pay  for all those extra lower tier prizes out of the reserve fund or what would have been their profit. The rules specify what percentage of sales go to the prize pools for each level, with the jackpot getting about 32%. I may have missd it, but I never noticed any wiggle room  about that in the official rules. The reserve fund gets 2%, but I'm not sure if it's 2% of sales (4 cents per ticket) or 2% of the 50% that goes towards prizes (2 cents per ticket). Either way, it wouldn't account for more than about $4.5 milion of the $115 million figure. I definitely don't see it coming close to accounting for what looks to me like a $10 million discrepancy in the advertised cash value for the current drawing.