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Mega Millions in Trouble?

Topic closed. 23 replies. Last post 4 years ago by THRIFTY.

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Milwaukee, WI
United States
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December 27, 2003
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Posted: August 4, 2012, 6:35 am - IP Logged

It seems that the jackpots are growing much more slowly.....

1st Annuity   $12 Million

2 nd Annuity   $13 Million

3rd  Annuity    $21 million

 

Didn't it used to be like $12 million   $20 million   $28 million?


    United States
    Member #111442
    May 25, 2011
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    Posted: August 4, 2012, 6:46 am - IP Logged

    It seems that the jackpots are growing much more slowly.....

    1st Annuity   $12 Million

    2 nd Annuity   $13 Million

    3rd  Annuity    $21 million

     

    Didn't it used to be like $12 million   $20 million   $28 million?

    As RJ commented on another thread, just a sign of the troubled financial times. What comes around goes around.


      United States
      Member #124493
      March 14, 2012
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      Posted: August 4, 2012, 7:02 am - IP Logged

      It seems that the jackpots are growing much more slowly.....

      1st Annuity   $12 Million

      2 nd Annuity   $13 Million

      3rd  Annuity    $21 million

       

      Didn't it used to be like $12 million   $20 million   $28 million?

      Neither game is in trouble.

      Somehow (through randomness)  the lottery gods have configured that both games cant be equally successful at the same time.  MUSL probably has teams...

      the MM team

      and the

      PB team

      The PB team is obviously trying to grow the jackpot bigger by enticing suckers into buying more tickets with that lousy New York promotion.

      There is nothing at this time that the MM team can do to emolirate(lessen) the situation, the  MM team will have to wait and suck it up.  The MM super duper opportunity Jackpot should occur around Hallows Eve/Turkey Day.Pumpkin

        IPlayWeekly's avatar - avatarmoney
        Columbus, Ohio
        United States
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        June 5, 2012
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        Posted: August 4, 2012, 7:22 am - IP Logged

        It's still alot of money, even if the increase is smaller... we're talking multi millions either way


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          Posted: August 4, 2012, 7:31 am - IP Logged

          It's still alot of money, even if the increase is smaller... we're talking multi millions either way

          Its not a lot of money for the lottery gods...although it may be a lot of money for you.

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            Morrison, IL
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            May 13, 2004
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            Posted: August 4, 2012, 10:13 am - IP Logged

            Earlier this year, Mega Millions set a record advertised jackpot (and record cash jackpot for that matter).  Now, it is trying to set a record for how long the advertised jackpot can stay under $100 million.

            ---

              Coin Toss's avatar - shape barbed.jpg
              Zeta Reticuli Star System
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              Posted: August 4, 2012, 10:34 am - IP Logged

              It usually went from 12 to 15 or 16, then low 20s.

              This past April 3rd and 7th it went from 12 to 20 though. Haven't seen that for awhile, but that was after that 600M + jackpot.

              Those who run the lotteries love it when players look for consistency in something that's designed not to have any.

              Lep

              There is one and only one 'proven' system, and that is to book the action. No matter the game, let the players pick their own losers.

                rdgrnr's avatar - walt
                Way back up in them dadgum hills, son!
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                Posted: August 4, 2012, 10:45 am - IP Logged

                Maybe they'll have to make it harder to win so the Jackpot gets bigger and stays that way from being won less often and then people will be happy.


                                                             
                                     
                                                         

                 

                 

                 

                 

                                                                                                                   

                "The only thing necessary for evil to triumph is for good men to do nothing"

                                                                                                            --Edmund Burke

                 

                 

                  whiteballz's avatar - Lottery-015.jpg
                  Nutley, New Jersey
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                  August 1, 2012
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                  Posted: August 4, 2012, 2:20 pm - IP Logged

                  It seems that the jackpots are growing much more slowly.....

                  1st Annuity   $12 Million

                  2 nd Annuity   $13 Million

                  3rd  Annuity    $21 million

                   

                  Didn't it used to be like $12 million   $20 million   $28 million?

                  mega millions is not in trouble at all. The low increases in the annuity is due for the most part, to historically low interest rates set by the Federal Reserve. Remember when you could go to the bank and get a one year CD (certificate of deposit) with a 5 percent yield? That's a thing of the past and they're not coming back anytime soon. Annuities with high yields are becoming harder and harder to find. You can thank Ben Bernanke for that.

                    RJOh's avatar - chipmunk
                    mid-Ohio
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                    Posted: August 4, 2012, 2:43 pm - IP Logged

                    mega millions is not in trouble at all. The low increases in the annuity is due for the most part, to historically low interest rates set by the Federal Reserve. Remember when you could go to the bank and get a one year CD (certificate of deposit) with a 5 percent yield? That's a thing of the past and they're not coming back anytime soon. Annuities with high yields are becoming harder and harder to find. You can thank Ben Bernanke for that.

                    What difference does it make to the losers?  The lower tier prizes pay the same regardless of jackpot size and the winner is going to be happy too.Wink

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

                      RJOh's avatar - chipmunk
                      mid-Ohio
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                      Posted: August 4, 2012, 2:48 pm - IP Logged

                      Neither game is in trouble.

                      Somehow (through randomness)  the lottery gods have configured that both games cant be equally successful at the same time.  MUSL probably has teams...

                      the MM team

                      and the

                      PB team

                      The PB team is obviously trying to grow the jackpot bigger by enticing suckers into buying more tickets with that lousy New York promotion.

                      There is nothing at this time that the MM team can do to emolirate(lessen) the situation, the  MM team will have to wait and suck it up.  The MM super duper opportunity Jackpot should occur around Hallows Eve/Turkey Day.Pumpkin

                      The PB team is obviously trying to grow the jackpot bigger by enticing suckers into buying more tickets with that lousy New York promotion.

                      If it's not working in New York, maybe they should try it in Ohio.

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


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                        Posted: August 4, 2012, 4:16 pm - IP Logged

                        As RJ commented on another thread, just a sign of the troubled financial times. What comes around goes around.

                        Good point mcginnin56, as the Socialist States of America "progress" down its chosen path things like the lottery and malls can expect to go by the way side.

                        Dont worry though, there will be plenty of midnight basketball courts to keep the peasantry busy with wasted time doing nothing but hobbies and drugs.

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                          NY
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                          Posted: August 5, 2012, 2:01 am - IP Logged

                          Just as it is with PB, sales for MM never generate enough cash to fully fund the jackpot until at least the 2nd drawing.  The time around the early sales were apparently a bit lower, but that's while competing against a PB jackpot of $139 million.  At the current $21 million for the annuity jackpot  MM is in the same territory it's usually at after 2 rolls. Over the past few months the 3rd jackpot has been advertised at  $21 to $25 million (not counting the anomalous roll after the record jackpot).

                          The $16.1 million cash value is nearly 76% of the annuity value, which is close to a record if it's not a record. That same cash would have been advertised as a $25 million annuity with the interest rates we had 8 to 12 months ago. That means that total sales through the 3rd drawing are expected to be about what they usually are for the first 3 drawings.

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                            wisconsin
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                            July 23, 2012
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                            Posted: August 5, 2012, 2:07 am - IP Logged

                            Unless th PB jackpot is over $100 million, I've been buying two MM instead of just one PB. I guess I'd rather get two tickets for the price of one.

                            Heck, I'd be pretty happy with even the lowend of the MM jackpot.

                              Piaceri's avatar - sarsony1
                              Republic of Texas
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                              Posted: August 5, 2012, 6:03 pm - IP Logged

                              Just as it is with PB, sales for MM never generate enough cash to fully fund the jackpot until at least the 2nd drawing.  The time around the early sales were apparently a bit lower, but that's while competing against a PB jackpot of $139 million.  At the current $21 million for the annuity jackpot  MM is in the same territory it's usually at after 2 rolls. Over the past few months the 3rd jackpot has been advertised at  $21 to $25 million (not counting the anomalous roll after the record jackpot).

                              The $16.1 million cash value is nearly 76% of the annuity value, which is close to a record if it's not a record. That same cash would have been advertised as a $25 million annuity with the interest rates we had 8 to 12 months ago. That means that total sales through the 3rd drawing are expected to be about what they usually are for the first 3 drawings.

                              This.

                              MM is at the same cash value on 3rd draw as usual, $16m. I do agree the first roll was.... mmm... odd.

                              What I find more odd is that PB is less cash value after 12 draws with the $2 price than after 12 draws at $1 the last time draws were $1. Yes, possibly the economy has something to do with it, but from February to now, not so much. Remember that the first time PB was $2 was in the middle of the last of the $1 rollovers.

                              Feb 8th, after 12 rolls, cash value at $156m ($250m annuity)

                              Aug 8th, after 12 rolls, cash value at $142.9m ($212m annuity)

                              Also, rollovers at the $1 price were usually 23% + range for cash value. With the $2 price, the average rollover is closer to 15%. 

                              Of course the annuity are down because of the interest rates. And probably because of the new price. The cash value will determine the future annuity value, so it is more accurate to check the cash value rather than the annuity.  Ticket sales may be up, but volume sales are down.

                              face

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