Welcome Guest
Log In | Register )
You last visited January 24, 2017, 12:02 am
All times shown are
Eastern Time (GMT-5:00)

Powerball is taking a serious beating in December!

Topic closed. 69 replies. Last post 4 years ago by RJOh.

Page 2 of 5
52
PrintE-mailLink

United States
Member #116268
September 7, 2011
20244 Posts
Offline
Posted: December 27, 2012, 10:38 am - IP Logged

California will probably retain its pari-mutual status as they did with MagaMillions and only pay prizes out of actual sales rather than expected sales over the long term even if it's less than other states are paying out occasionally.

Who knows, maybe other states will adapt the same policy.

That make a lot more sense, because they can pay out less on a 5 of 5 when sales are low and keep the difference when sales are high....... Anther good way to satisfy their thirst.

    RJOh's avatar - chipmunk
    mid-Ohio
    United States
    Member #9
    March 24, 2001
    19903 Posts
    Offline
    Posted: December 27, 2012, 10:46 am - IP Logged

    That make a lot more sense, because they can pay out less on a 5 of 5 when sales are low and keep the difference when sales are high....... Anther good way to satisfy their thirst.

    All states want to keep 50% of total sales for themselves, it's just that California doesn't take any chances based on expected future sales by being pari-mutual.  If they don't make a lot of money, neither do the winners.

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


      United States
      Member #116268
      September 7, 2011
      20244 Posts
      Offline
      Posted: December 27, 2012, 10:54 am - IP Logged

      All states want to keep 50% of total sales for themselves, it's just that California doesn't take any chances based on expected future sales by being pari-mutual.  If they don't make a lot of money, neither do the winners.

      Of course they "want" to keep 50% but if it were not a state run operation the government would shut them down as a monopoly, and expose them for price gouging.........


        United States
        Member #116268
        September 7, 2011
        20244 Posts
        Offline
        Posted: December 27, 2012, 10:56 am - IP Logged

        The gas and oil companies keep around 5% and look at the abuse that gets hurled at them......


          United States
          Member #116268
          September 7, 2011
          20244 Posts
          Offline
          Posted: December 27, 2012, 11:00 am - IP Logged

          The states have become thirsty vampires and will stop at nothing to rape its citizens of cold hard cash.

          Rant

                                                                  Green laugh


            United States
            Member #116268
            September 7, 2011
            20244 Posts
            Offline
            Posted: December 27, 2012, 11:00 am - IP Logged

              rdgrnr's avatar - walt
              Way back up in them dadgum hills, son!
              United States
              Member #73904
              April 28, 2009
              14903 Posts
              Offline
              Posted: December 27, 2012, 11:09 am - IP Logged

              The gas and oil companies keep around 5% and look at the abuse that gets hurled at them......

              I rarely hurl abuse.

              I just cast aspersions.

              That's not to say that I wouldn't entertain the notion of hurling abuse if they kept more than 5% though.


                United States
                Member #106134
                February 13, 2011
                806 Posts
                Offline
                Posted: December 27, 2012, 11:22 am - IP Logged

                It's WAY too easy to win, that's what the deal is.  Like I've always said, way more numbers need to be added to make it way harder.

                  rdgrnr's avatar - walt
                  Way back up in them dadgum hills, son!
                  United States
                  Member #73904
                  April 28, 2009
                  14903 Posts
                  Offline
                  Posted: December 27, 2012, 11:33 am - IP Logged

                  It's WAY too easy to win, that's what the deal is.  Like I've always said, way more numbers need to be added to make it way harder.

                  Yeah, waaaaaaaay too easy.

                  I'm tired of winning all the time.

                    RJOh's avatar - chipmunk
                    mid-Ohio
                    United States
                    Member #9
                    March 24, 2001
                    19903 Posts
                    Offline
                    Posted: December 27, 2012, 11:34 am - IP Logged

                    It's WAY too easy to win, that's what the deal is.  Like I've always said, way more numbers need to be added to make it way harder.

                    Everything seem easy when it's done by someone else.

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

                      Avatar
                      Kentucky
                      United States
                      Member #32652
                      February 14, 2006
                      7344 Posts
                      Offline
                      Posted: December 27, 2012, 11:36 am - IP Logged

                      I don't have any concrete information on sales, but since the implementation of this new matrix, the jackpot doesn't start paying for itself until it gets up to around 90 - 100 million.

                       

                      Players are giving a series of kicks to the powerBALLS

                      Ticket sales for last night's drawing were $24,678,590 and the secondary prize payoff (excluding Power Play) was $7,011,908. The total sales for both drawings were $52,905,090 which doesn't leave much room for a profit if any. I believe each state pays a percentage of their ticket sales toward the jackpots and then payoff their secondary winners. Any state with a 5 + 0 winner last night probably lost money and the game probably lost money in both drawings.

                      If the jackpots continue to be won under $70 million, they may reconsider having the automatic $10 million jackpot increases every drawing. They made a huge profit on their record setting jackpot run, but I doubt they want to be in the red waiting until another huge jackpot develops.

                        Avatar
                        Kentucky
                        United States
                        Member #32652
                        February 14, 2006
                        7344 Posts
                        Offline
                        Posted: December 27, 2012, 11:50 am - IP Logged

                        All states want to keep 50% of total sales for themselves, it's just that California doesn't take any chances based on expected future sales by being pari-mutual.  If they don't make a lot of money, neither do the winners.

                        Players have to beat odds of 648,976 to 1 to win $10,000 with the fixed payoffs and the average pari-mutual payoffs will be less than that. I wonder if anyone will be upset when they finally match 5 + 0, win $500,000, and see the 5 + 0 winners in other states winning $1 million.

                          Nikkicute's avatar - nnjx1k
                          Wisconsin
                          United States
                          Member #123290
                          February 17, 2012
                          3092 Posts
                          Offline
                          Posted: December 27, 2012, 1:53 pm - IP Logged

                          It's WAY too easy to win, that's what the deal is.  Like I've always said, way more numbers need to be added to make it way harder.

                          Why should they add more numbersWhat?

                          They already added a $1, it can't be that bad.


                            United States
                            Member #106134
                            February 13, 2011
                            806 Posts
                            Offline
                            Posted: December 27, 2012, 2:43 pm - IP Logged

                            Excluding the jackpot, what will they do when more than 100 players win a 5+0?   That's $100 mil right there.

                              maringoman's avatar - images q=tbn:ANd9GcTbRxpKQmOfcCoUqF2FyqIOAwDo7rg9G-lfJLAALPGWJWwiz19eRw
                              Massachusetts
                              United States
                              Member #37433
                              April 14, 2006
                              2747 Posts
                              Offline
                              Posted: December 27, 2012, 4:39 pm - IP Logged

                              Its time those famous maringoman numbers came in.........Dance

                              Yessir, they're long overdue. It would be wonderful if they came before the end of 2012. I would probably Pukelol