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Powerball's 15 million dollar increase - why?

Topic closed. 11 replies. Last post 4 years ago by whiteballz.

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Nutley, New Jersey
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Posted: June 13, 2013, 1:01 am - IP Logged

The PB jackpot went from $70 mil to $85 mil. I was expecting only a $10 million increase just like the other time the jackpot was $70 mil.  What explains the 15 million dollar increase?

.


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    Posted: June 13, 2013, 6:50 am - IP Logged

    The PB jackpot went from $70 mil to $85 mil. I was expecting only a $10 million increase just like the other time the jackpot was $70 mil.  What explains the 15 million dollar increase?

    Maybe people bought more tickets than normal...I just guessing....the cash value is only 52 million so Im also guessing that the previous cash value wasnt too far off from that...

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      Morrison, IL
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      Posted: June 13, 2013, 7:51 am - IP Logged

      Maybe people bought more tickets than normal...I just guessing....the cash value is only 52 million so Im also guessing that the previous cash value wasnt too far off from that...

      The cash value actually increased by $9.2 million (it is now $52.1 million, was $42.9 million before).  Last night's jackpot actually WAS fully funded, according to the TLC website, with total sales of those four draws at $135,250,202.  [$135,250,202 * .3197555 = $43.2 million cash].  Assuming the pattern continues, we should expect draw sales of ~$37 million for Saturday's draw, which would result in a cash jackpot of ~$55 million (but, of course, the MUSL has to skim the jackpot fund in order to pay for higher than expected secondary prize winners as well as winners of guaranteed jackpots).

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        RJOh's avatar - chipmunk
        mid-Ohio
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        Posted: June 13, 2013, 9:15 am - IP Logged

        PB is becoming fully funded earlier because more players are willing to pay $2 for a ticket when the jackpots are lower.  I think MM announcing their intended matrix change has changed a lot of players minds about PB.

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

          dallascowboyfan's avatar - tiana the-princess-and-the-frog.jpg
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          Posted: June 13, 2013, 9:33 am - IP Logged

          I think with the big jackpot in November $587,500,000.00 and May $590,500,000.00 people are getting excited about Powerball.

          I Love Pink & Green 1908

            helpmewin's avatar - dandy
            u$a
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            Posted: June 13, 2013, 9:41 am - IP Logged

            The PB jackpot went from $70 mil to $85 mil. I was expecting only a $10 million increase just like the other time the jackpot was $70 mil.  What explains the 15 million dollar increase?

            DanceTeamwork

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              Posted: June 13, 2013, 10:24 am - IP Logged

              PB is becoming fully funded earlier because more players are willing to pay $2 for a ticket when the jackpots are lower.  I think MM announcing their intended matrix change has changed a lot of players minds about PB.

              I Agree! People are already jumping ship on the MM game with its tiny $12-29 Million jackpots.

                Jon D's avatar - calotterylogo
                Los Angeles, California
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                Posted: June 13, 2013, 10:25 am - IP Logged

                The PB jackpot went from $70 mil to $85 mil. I was expecting only a $10 million increase just like the other time the jackpot was $70 mil.  What explains the 15 million dollar increase?

                The primary driver is higher yield on the annuity, meaning lower cash value required for same JP, and fully funded can happen earlier.

                Total sales are only a few million more than the accumulated total for the last run at the same stage of $70M. Combined with increased sales from CA, this is now the new normal.


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                  Posted: June 13, 2013, 10:34 am - IP Logged

                  The primary driver is higher yield on the annuity, meaning lower cash value required for same JP, and fully funded can happen earlier.

                  Total sales are only a few million more than the accumulated total for the last run at the same stage of $70M. Combined with increased sales from CA, this is now the new normal.

                  Good point. Another reason why higher ticket prices are a good idea, as interest rates rise they will need fewer and fewer sales and still have higher and higher (advertised) jackpots. Yes Nod

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                    London
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                    Posted: June 13, 2013, 11:48 am - IP Logged

                    Powerball raises pretty quick compared to the EuroMillions, Euro normally raises between 10 - 15 M and never goes up like 100m at a time. Wish I could play the Powerball. =[

                    2016 Won/Lost

                    EuroMillions / Spent: £22 / Won £0 / Total -£22

                    UK Lotto / Spent: £4 / Won: £0 / Total: -£4

                    2016 Total: -£24

                    Jan: -£22 Feb: £0 ~ Mar: £0 ~ April: £0 ~ May: £0 ~ June: £0 ~ July: £2

                     

                    EuroMillions = £2 Line / Played: x11 [old price] 

                    EuroMillions = £2.50 Line / Played: x0

                    UK Lotto = £2 Line / Played x2

                      Coin Toss's avatar - shape barbed.jpg
                      Zeta Reticuli Star System
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                      Posted: June 13, 2013, 7:34 pm - IP Logged

                      The PB jackpot went from $70 mil to $85 mil. I was expecting only a $10 million increase just like the other time the jackpot was $70 mil.  What explains the 15 million dollar increase?

                      What explains the 15 million dollar increase?

                      Five million dollars!

                      Green laugh

                      J/K

                      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.

                        whiteballz's avatar - Lottery-015.jpg
                        Nutley, New Jersey
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                        Posted: June 14, 2013, 12:10 am - IP Logged

                        What explains the 15 million dollar increase?

                        Five million dollars!

                        Green laugh

                        J/K

                        I just thought the 15 mil increase was strange at 70 million. Ever since PB changed to the 40 mil starting jackpot, the increase has been 10 million every roll over until the jackpot is around 120 million then 10+ million increases start happening.

                        .