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Powerball is kicking it up-10 millionaires were made tonight!!.

Topic closed. 85 replies. Last post 2 years ago by maringoman.

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LottoMetro's avatar - Lottery-024.jpg
Happyland
United States
Member #146344
September 1, 2013
1131 Posts
Offline
Posted: January 23, 2015, 3:31 pm - IP Logged

LM you know these things. Why the greed though? The states already get half of the wagered money and majority of the times nobody wins the second prize so they get to keep most of their share What?

Greed definitely drives part of it, but at the same time I understand their position. States get "used to" the revenues that come in during and after high jackpot runs. Many states depend on Powerball and Mega Millions alone for 50% or more of their total revenue. I'm not afraid to call them idiots for vesting so much into jackpot draw games though. They really are out of touch with reality and the discussions that take place during conferences are evidence of that.

So what has happened is their greed has got the better of them. I would say in the last 5 years this has become more pronounced. In an effort to boost sales they changed the matrices (or price, in the case of PB) to allow for bigger jackpots. These jackpots came and set new records. Now a new bar has been set, and the media stops caring about the games until the jackpots get close to this bar again (lotteries are obsessed with the media). Players stop caring about the games until they see it in the news, or until the jackpot is high enough to seem like a good bet relative to the terrible odds. It's a feedback loop.

Things are only going to get worse with the new matrix. A new record will be set (just a matter of time), and then more and more players will stop participating in the lower jackpots. The only way to get around this is to speed up the time it takes to reach a high jackpot. How do we do this? Raise the price. Since they already did that with Powerball, the next option is to change the odds. This ensures that it will roll longer which leads to higher jackpots. If this doesn't work they may change the odds again AND change the price, likely lowering the price and raising the odds or vice versa. I think the real fundamental issue is lack of control. They hate the fact that random luck determines whether they will have a decent jackpot run or not. They've become too dependent on eye-popping jackpots.

Again, it's a diversification issue. The states that allocated the majority of their portfolio to scratch-offs, for example, still managed to have a great 2014. But the per-capita revenues from draw games, especially PB and MM during successful cycles, is so alluring that most lotteries focus too much on that. I think that in the end they will realize they should listen more to players and not their vendors or any lottery association (I am becoming more anti-vendor every day LOL). Obviously the demands from state legislators for increasing revenue year over year are high and pressuring, but the vendors' eyes are bigger.

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?

2017: 0% (0 tickets)
P&L % = Total Win($)/Total Wager($) - 1

    mypiemaster's avatar - 2015021003pileofcash
    JACKPOT HUNTER

    United States
    Member #141034
    April 2, 2013
    1419 Posts
    Offline
    Posted: January 25, 2015, 1:49 am - IP Logged

    This is awesome. Ten more millionaires from nine different states were made in this draw. Cali's pari-mutuel draw doesn't sound so enticing{2 wishful thinking millionaires}. The dreaded 2x powerplay rears it's ugly head again. Players should not be charged for 2x multipliers, it should be abolished because it sucks. I can see the lottery god's sitting around, with their fingers up their nostrils yelling "SUCKERS" every time the 2x multiplier is drawn. The jackpot keeps on growing, which is a wonderful thing.  Party

    Seek and ye shall find -Matt. 7:7 ...Ask and ye shall receive -John 16:24 ...Give and it shall be given unto you -Luke 6:38 ...Be careful what you ask for!!! -Mypiemaster 1:1

    Having Money Solves Problems That Not Having Money Creates Yes Nod ****John Carlton****

      LottoMetro's avatar - Lottery-024.jpg
      Happyland
      United States
      Member #146344
      September 1, 2013
      1131 Posts
      Offline
      Posted: January 25, 2015, 6:41 am - IP Logged

      This is awesome. Ten more millionaires from nine different states were made in this draw. Cali's pari-mutuel draw doesn't sound so enticing{2 wishful thinking millionaires}. The dreaded 2x powerplay rears it's ugly head again. Players should not be charged for 2x multipliers, it should be abolished because it sucks. I can see the lottery god's sitting around, with their fingers up their nostrils yelling "SUCKERS" every time the 2x multiplier is drawn. The jackpot keeps on growing, which is a wonderful thing.  Party

      Players should not be charged for 2x multipliers, it should be abolished because it sucks. I can see the lottery god's sitting around, with their fingers up their nostrils yelling "SUCKERS" every time the 2x multiplier is drawn. The jackpot keeps on growing, which is a wonderful thing. 

      Well, you'll be pleased to know that the new Powerball matrix will include a 2X, 3X, 4X, 5X, and 10X multiplier at no extra charge on the base ticket.

      And I agree, a growing jackpot is a good thing Thumbs Up

      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?

      2017: 0% (0 tickets)
      P&L % = Total Win($)/Total Wager($) - 1

        Theox-'s avatar - DAylUYw

        United States
        Member #148698
        November 9, 2013
        96 Posts
        Offline
        Posted: January 25, 2015, 8:55 am - IP Logged

        Someone in my state won a million dollars last night. I didn't win anything Frown

         

         Maybe I'll get lucky on Wednesday!

          maringoman's avatar - images q=tbn:ANd9GcTbRxpKQmOfcCoUqF2FyqIOAwDo7rg9G-lfJLAALPGWJWwiz19eRw
          Massachusetts
          United States
          Member #37433
          April 14, 2006
          2747 Posts
          Offline
          Posted: January 25, 2015, 11:23 am - IP Logged

          PB is creating more millionaires than that doomed game MMC. MUSL just can't stand to see a good thing existing. Hopefully more of us can get lucky before they butcher the game like they did to MM.

          That money's gone fo ever

            maringoman's avatar - images q=tbn:ANd9GcTbRxpKQmOfcCoUqF2FyqIOAwDo7rg9G-lfJLAALPGWJWwiz19eRw
            Massachusetts
            United States
            Member #37433
            April 14, 2006
            2747 Posts
            Offline
            Posted: January 25, 2015, 11:37 am - IP Logged

            Greed definitely drives part of it, but at the same time I understand their position. States get "used to" the revenues that come in during and after high jackpot runs. Many states depend on Powerball and Mega Millions alone for 50% or more of their total revenue. I'm not afraid to call them idiots for vesting so much into jackpot draw games though. They really are out of touch with reality and the discussions that take place during conferences are evidence of that.

            So what has happened is their greed has got the better of them. I would say in the last 5 years this has become more pronounced. In an effort to boost sales they changed the matrices (or price, in the case of PB) to allow for bigger jackpots. These jackpots came and set new records. Now a new bar has been set, and the media stops caring about the games until the jackpots get close to this bar again (lotteries are obsessed with the media). Players stop caring about the games until they see it in the news, or until the jackpot is high enough to seem like a good bet relative to the terrible odds. It's a feedback loop.

            Things are only going to get worse with the new matrix. A new record will be set (just a matter of time), and then more and more players will stop participating in the lower jackpots. The only way to get around this is to speed up the time it takes to reach a high jackpot. How do we do this? Raise the price. Since they already did that with Powerball, the next option is to change the odds. This ensures that it will roll longer which leads to higher jackpots. If this doesn't work they may change the odds again AND change the price, likely lowering the price and raising the odds or vice versa. I think the real fundamental issue is lack of control. They hate the fact that random luck determines whether they will have a decent jackpot run or not. They've become too dependent on eye-popping jackpots.

            Again, it's a diversification issue. The states that allocated the majority of their portfolio to scratch-offs, for example, still managed to have a great 2014. But the per-capita revenues from draw games, especially PB and MM during successful cycles, is so alluring that most lotteries focus too much on that. I think that in the end they will realize they should listen more to players and not their vendors or any lottery association (I am becoming more anti-vendor every day LOL). Obviously the demands from state legislators for increasing revenue year over year are high and pressuring, but the vendors' eyes are bigger.

             I suppose there are those who are motivated to play only when they see skyrocketing jackpots. One can only hope MUSL knows what it is doing because the whole thing could backfire real bad

            That money's gone fo ever

              mypiemaster's avatar - 2015021003pileofcash
              JACKPOT HUNTER

              United States
              Member #141034
              April 2, 2013
              1419 Posts
              Offline
              Posted: January 25, 2015, 3:23 pm - IP Logged

              Players should not be charged for 2x multipliers, it should be abolished because it sucks. I can see the lottery god's sitting around, with their fingers up their nostrils yelling "SUCKERS" every time the 2x multiplier is drawn. The jackpot keeps on growing, which is a wonderful thing. 

              Well, you'll be pleased to know that the new Powerball matrix will include a 2X, 3X, 4X, 5X, and 10X multiplier at no extra charge on the base ticket.

              And I agree, a growing jackpot is a good thing Thumbs Up

              The new Powerball matrix, at current odds, will be a fantastic thing. I bet you that when it gets implemented, the new odds will be in the stratosphere thereby screwing up something that could have been a good thing for the players. What am I thinking?. It's about lottery profits, not about player satisfaction. Disapprove

              Seek and ye shall find -Matt. 7:7 ...Ask and ye shall receive -John 16:24 ...Give and it shall be given unto you -Luke 6:38 ...Be careful what you ask for!!! -Mypiemaster 1:1

              Having Money Solves Problems That Not Having Money Creates Yes Nod ****John Carlton****

                mypiemaster's avatar - 2015021003pileofcash
                JACKPOT HUNTER

                United States
                Member #141034
                April 2, 2013
                1419 Posts
                Offline
                Posted: January 25, 2015, 3:34 pm - IP Logged

                PB is creating more millionaires than that doomed game MMC. MUSL just can't stand to see a good thing existing. Hopefully more of us can get lucky before they butcher the game like they did to MM.

                I Agree! BUTCHER is the operative wordSad. About 24 millionaires made in the last 3 draws{including Cali's wishful thinking millionaires} just for 5+0 tier only. You know that those lottery gods are now squirming in their seats and the winning players are all smiles.

                Seek and ye shall find -Matt. 7:7 ...Ask and ye shall receive -John 16:24 ...Give and it shall be given unto you -Luke 6:38 ...Be careful what you ask for!!! -Mypiemaster 1:1

                Having Money Solves Problems That Not Having Money Creates Yes Nod ****John Carlton****

                  veganlife125's avatar - Lottery-061.jpg

                  United States
                  Member #142777
                  May 18, 2013
                  263 Posts
                  Offline
                  Posted: January 25, 2015, 5:30 pm - IP Logged

                  Players should not be charged for 2x multipliers, it should be abolished because it sucks. I can see the lottery god's sitting around, with their fingers up their nostrils yelling "SUCKERS" every time the 2x multiplier is drawn. The jackpot keeps on growing, which is a wonderful thing. 

                  Well, you'll be pleased to know that the new Powerball matrix will include a 2X, 3X, 4X, 5X, and 10X multiplier at no extra charge on the base ticket.

                  And I agree, a growing jackpot is a good thing Thumbs Up

                  Did you make a mistake when you said a 10X multiplier?  How could that work?  Say a 300 million lottery jackpot got hit by 1 ticket.  However 25 people won a million and the multiplier was 10X.  Are you saying they would take 250 million off the top for those people leaving 50 million for the jackpot winner?  If so i quess they found a way to SPREAD IT AROUND a little bit.  That could create some negative press.  I could even see them going negative on some draws if the numbers hit just right.

                  They need to just get rid of all those multipliers on both MM and PB.  Just set the second prize at 1 or 2 million thats enough. 

                  Don't forget to visit the Lottery Post Gift Shop!

                    LottoMetro's avatar - Lottery-024.jpg
                    Happyland
                    United States
                    Member #146344
                    September 1, 2013
                    1131 Posts
                    Offline
                    Posted: January 25, 2015, 5:53 pm - IP Logged

                    Did you make a mistake when you said a 10X multiplier?  How could that work?  Say a 300 million lottery jackpot got hit by 1 ticket.  However 25 people won a million and the multiplier was 10X.  Are you saying they would take 250 million off the top for those people leaving 50 million for the jackpot winner?  If so i quess they found a way to SPREAD IT AROUND a little bit.  That could create some negative press.  I could even see them going negative on some draws if the numbers hit just right.

                    They need to just get rid of all those multipliers on both MM and PB.  Just set the second prize at 1 or 2 million thats enough. 

                    No mistake, there will be a 10X. The multiplier will only apply to prizes from the 3rd tier and lower. No multiplied jackpot or 2nd prize. You can read more in this thread (ignore any confusing posts, i.e. saying multiplier is not included). Some states have posted draft rules already; most mention it in Dec. commission minutes.

                    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?

                    2017: 0% (0 tickets)
                    P&L % = Total Win($)/Total Wager($) - 1

                      noise-gate's avatar - images q=tbn:ANd9GcR91HDs4UJhjxO7cmeMQWZ5lB_FOcMLOGicau4V74R45tDgPWrr
                      Bay Area - California
                      United States
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                      December 12, 2012
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                      Posted: January 25, 2015, 8:28 pm - IP Logged

                      Some of the usual suspects got on the  2nd prize PB winning board last night: namely NY,NJ & CA...

                      If either had won.. No Pity!

                      People who say it cannot be done should not interrupt those who are doing it- George Bernard Shaw.

                        maringoman's avatar - images q=tbn:ANd9GcTbRxpKQmOfcCoUqF2FyqIOAwDo7rg9G-lfJLAALPGWJWwiz19eRw
                        Massachusetts
                        United States
                        Member #37433
                        April 14, 2006
                        2747 Posts
                        Offline
                        Posted: January 25, 2015, 9:10 pm - IP Logged

                        Some of the usual suspects got on the  2nd prize PB winning board last night: namely NY,NJ & CA...

                        If either had won.. No Pity!

                        I noticed that the Powerball mad Floridians were missing in that line-up. What gives? What?

                        That money's gone fo ever

                          maringoman's avatar - images q=tbn:ANd9GcTbRxpKQmOfcCoUqF2FyqIOAwDo7rg9G-lfJLAALPGWJWwiz19eRw
                          Massachusetts
                          United States
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                          April 14, 2006
                          2747 Posts
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                          Posted: January 25, 2015, 9:15 pm - IP Logged

                          I Agree! BUTCHER is the operative wordSad. About 24 millionaires made in the last 3 draws{including Cali's wishful thinking millionaires} just for 5+0 tier only. You know that those lottery gods are now squirming in their seats and the winning players are all smiles.

                          Imagine that. 24 millionaires and February is still a week away. Powerball as it is is a good game. If only I could be part of the winners soon enough I'll call it a great game.

                          That money's gone fo ever

                            veganlife125's avatar - Lottery-061.jpg

                            United States
                            Member #142777
                            May 18, 2013
                            263 Posts
                            Offline
                            Posted: January 25, 2015, 10:14 pm - IP Logged

                            No mistake, there will be a 10X. The multiplier will only apply to prizes from the 3rd tier and lower. No multiplied jackpot or 2nd prize. You can read more in this thread (ignore any confusing posts, i.e. saying multiplier is not included). Some states have posted draft rules already; most mention it in Dec. commission minutes.

                            Ah ok thanks LottoMetro.

                            Don't forget to visit the Lottery Post Gift Shop!

                              noise-gate's avatar - images q=tbn:ANd9GcR91HDs4UJhjxO7cmeMQWZ5lB_FOcMLOGicau4V74R45tDgPWrr
                              Bay Area - California
                              United States
                              Member #136477
                              December 12, 2012
                              4144 Posts
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                              Posted: January 25, 2015, 10:42 pm - IP Logged

                              I noticed that the Powerball mad Floridians were missing in that line-up. What gives? What?

                              Perhaps withholding their finances in order to contribute towards Jeb Bush's Presidential 

                              Run...

                              People who say it cannot be done should not interrupt those who are doing it- George Bernard Shaw.