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According to my retailer there is a new national lottery game coming

Topic closed. 54 replies. Last post 2 years ago by THRIFTY.

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Kentucky
United States
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February 14, 2006
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Posted: June 24, 2014, 6:34 pm - IP Logged

Lottery players will be playing less often at $5 per ticket. It did not happen with Powerball at $2 ticket cost though.

Right now the minimum cost of playing one ticket in every PB and MM drawing a year is $312 as opposed to a once a week $5 at $260 a year. PB raised the price of a ticket to $2 so they could offer a second prize of $1 million. MM also wanted a second prize fo $1 million but opted to increase the odds so the ticket price remained at $1. This game will cap the jackpot to increase the number of $1 prizes.

"Lottery players will be playing less often at $5 per ticket."

MM sells on average 18 million tickets when the jackpot is under $100 million and PB sells less. In terms of revenue, 14 million PB tickets are $10 million more than MM. If the new game sells "only" half of PB sales, the revenue will be $7 million more. With only one drawing a week and only needing 1/5 of ticket sales to break even with MM, getting enough players won't be a problem.

    LottoMetro's avatar - Lottery-024.jpg
    Happyland
    United States
    Member #146344
    September 1, 2013
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    Posted: June 25, 2014, 12:13 am - IP Logged

    Right now the minimum cost of playing one ticket in every PB and MM drawing a year is $312 as opposed to a once a week $5 at $260 a year. PB raised the price of a ticket to $2 so they could offer a second prize of $1 million. MM also wanted a second prize fo $1 million but opted to increase the odds so the ticket price remained at $1. This game will cap the jackpot to increase the number of $1 prizes.

    "Lottery players will be playing less often at $5 per ticket."

    MM sells on average 18 million tickets when the jackpot is under $100 million and PB sells less. In terms of revenue, 14 million PB tickets are $10 million more than MM. If the new game sells "only" half of PB sales, the revenue will be $7 million more. With only one drawing a week and only needing 1/5 of ticket sales to break even with MM, getting enough players won't be a problem.

    This was one of the highlights of the Monopoly pitch/presentation.....a weekly per capita potentially higher than Powerball from the onset. I personally don't know what sales will look like, but one of the top 5 lotteries in the country forecasts fewer than 85,000 tickets per drawing from their players. Roughly half of all lotteries in the U.S. have already signed on (preliminarily) to the game, but if they don't get full participation at launch it could start off with a whimper. The first drawing won't take place until October 24th so they've got time to move but still..... Poke

    Somewhat off topic, but elsewhere I came across an unsourced claim that the Monopoly Millionaires' Club jackpot will not be shared. What? This isn't true. The game has a pari-mutuel jackpot, just like PB/MM, and as always even the fixed prizes can convert to pari-mutuel if your state runs out of money to fund them. Also, while I was re-reading the rules I noticed that any "guaranteed" rollover amount from draw to draw is not explicitly stated. So while common belief/information says it will be $5 million increments, it could be less. The rules also state that MUSL can withhold a % of sales for the reserve fund, but this is mostly standard already with PB and MM. Finally, I forgot to mention this yesterday, but it is possible to win both the jackpot and a Club prize.

    If the chances of winning the jackpot are so slim, why play when the jackpot is so small? Your chances never change, but the potential payoff does.
    If a crystal ball showed you the future of the rest of your life, and in that future you will never win a jackpot, would you still play?

    2016: -48.28% (13 tickets) ||
    P&L % = Total Win($)/Total Wager($) - 1

      LottoMetro's avatar - Lottery-024.jpg
      Happyland
      United States
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      September 1, 2013
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      Posted: July 2, 2014, 7:49 pm - IP Logged

      Couple more tidbits of info that came from MDI (part of the company that developed this game).

      • The jackpot will actually roll in $3 million increments, so it will be capped by the fourth draw. This is an improvement of 1 draw versus the previously quoted $5 million increments.
      • The number of guaranteed $1 million Club prizes will increase by a minimum of 2 per draw. On a typical cycle where the cap is hit they expect well over 50 millionaires to be created; in longer rolls like 19-20 draws they expect over 150 winners.
      • First broadcast of the national game show is expected to be the weekend after the next Super Bowl. It will have about $80 million in prizes, though obviously they won't be awarding that much thanks to the way its Monopoly-type games are played.

      If the chances of winning the jackpot are so slim, why play when the jackpot is so small? Your chances never change, but the potential payoff does.
      If a crystal ball showed you the future of the rest of your life, and in that future you will never win a jackpot, would you still play?

      2016: -48.28% (13 tickets) ||
      P&L % = Total Win($)/Total Wager($) - 1

        Nikkicute's avatar - nnjx1k
        Wisconsin
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        Member #123290
        February 17, 2012
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        Posted: July 10, 2014, 9:18 am - IP Logged

        Just read an article and Illinois will not be a part of this game for now.

        Is there a list out there of which states will be participatingWhat?

        I'd like to know if my state is on the list.

          LottoMetro's avatar - Lottery-024.jpg
          Happyland
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          September 1, 2013
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          Posted: July 10, 2014, 2:21 pm - IP Logged

          Just read an article and Illinois will not be a part of this game for now.

          Is there a list out there of which states will be participatingWhat?

          I'd like to know if my state is on the list.

          I saw the same thing...backlash from Northstar's poor performance apparently.....

          They won't be publishing a list until it gets closer to the actual launch, since many lotteries have only given it preliminary approval but not passed the rules. The states mentioned in the article as participating were Missouri, Indiana, Iowa and Michigan; I know that South Dakota, Maryland, and New Hampshire are also on the list, among the 22 states that have already signed on. There are 34 states in MUSL so if your state is one of them you can almost be guaranteed that you will get the game at some point. Seems to me that the reason some lotteries are holding out is uncertainty about player base and whether this game will detract sales from other state games.

          If the chances of winning the jackpot are so slim, why play when the jackpot is so small? Your chances never change, but the potential payoff does.
          If a crystal ball showed you the future of the rest of your life, and in that future you will never win a jackpot, would you still play?

          2016: -48.28% (13 tickets) ||
          P&L % = Total Win($)/Total Wager($) - 1

            bobby623's avatar - abstract
            San Angelo, Texas
            United States
            Member #1097
            January 31, 2003
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            Posted: July 10, 2014, 4:34 pm - IP Logged

            Another way of looking at this is that Illinois might be a state where the Director is greedy.
            Most of the directors got their jobs because they have demonstrated they know how to maximize greed. In other words,
            every action is designed to increase lottery profits by minimizing player payout.
            Tennessee is a prime example where the lottery is used to siphon money from players with little payback.
            If true, then a game that guarantees players can win a million in cash isn't going to be popular with lottery directors.
            The fact that MUSL chose Friday drawings means there will be less money available for MegaMillions, a game that sort of
            guarantees that players will not win very often.
            The fact that the Texas lottery director introduced MMC as a proposed rule change means the game has already been accepted.
            True, there may be opposition when the hearings are held, but history shows that it won't make any difference.
            Personally, I've already set up my workout data sheets for a 5/52 game.

              rcbbuckeye's avatar - Lottery-043.jpg
              Texas
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              October 23, 2007
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              Posted: July 10, 2014, 7:37 pm - IP Logged

              Another way of looking at this is that Illinois might be a state where the Director is greedy.
              Most of the directors got their jobs because they have demonstrated they know how to maximize greed. In other words,
              every action is designed to increase lottery profits by minimizing player payout.
              Tennessee is a prime example where the lottery is used to siphon money from players with little payback.
              If true, then a game that guarantees players can win a million in cash isn't going to be popular with lottery directors.
              The fact that MUSL chose Friday drawings means there will be less money available for MegaMillions, a game that sort of
              guarantees that players will not win very often.
              The fact that the Texas lottery director introduced MMC as a proposed rule change means the game has already been accepted.
              True, there may be opposition when the hearings are held, but history shows that it won't make any difference.
              Personally, I've already set up my workout data sheets for a 5/52 game.

              True Bobby. The comment period, and the rules making process is just a formality. Even when someone does show up at a meeting and objects to a rule, the commission just blows them off and passes it anyway. LOL.

              In fact, the commissioners generally will go along with whatever Gary Grief wants.

              CAN'T WIN IF YOU'RE NOT IN

              A DOLLAR AND A DREAM (OR $2)

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                Morrison, IL
                United States
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                May 13, 2004
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                Posted: July 12, 2014, 10:45 am - IP Logged

                A game with a $25 million starting jackpot and capped $50 million jackpot.  This sounds like a game I might play.

                ---

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                  NEW YORK
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                  April 29, 2010
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                  Posted: July 13, 2014, 8:33 pm - IP Logged

                  A game with a $25 million starting jackpot and capped $50 million jackpot.  This sounds like a game I might play.

                  What is so good about this game? Please explain.

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                    NEW YORK
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                    April 29, 2010
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                    Posted: July 13, 2014, 8:35 pm - IP Logged

                    Right now the minimum cost of playing one ticket in every PB and MM drawing a year is $312 as opposed to a once a week $5 at $260 a year. PB raised the price of a ticket to $2 so they could offer a second prize of $1 million. MM also wanted a second prize fo $1 million but opted to increase the odds so the ticket price remained at $1. This game will cap the jackpot to increase the number of $1 prizes.

                    "Lottery players will be playing less often at $5 per ticket."

                    MM sells on average 18 million tickets when the jackpot is under $100 million and PB sells less. In terms of revenue, 14 million PB tickets are $10 million more than MM. If the new game sells "only" half of PB sales, the revenue will be $7 million more. With only one drawing a week and only needing 1/5 of ticket sales to break even with MM, getting enough players won't be a problem.

                    I will buy a lottery ticket SOMEDAY.