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Powerball sucks

Topic closed. 17 replies. Last post 1 year ago by HoLeeKau.

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NY
United States
Member #23835
October 16, 2005
3474 Posts
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Posted: December 4, 2015, 6:28 pm - IP Logged

"they have ignored how the jackpots get to those levels in the first place ...  These players are the heart of the system."

I'm sorry to burst your bubble, but the lotteries don't care about the players. All they care about is the bottom line. If piddling sales for most drawings are offset by a couple of really huge jackpots that will make them perfectly happy. For the last run before the October matrix change lottoreport shows sales (not including powerplay) of $203,461,232 for the 8 drawings from the starting jackpot to the one for $110 million. For the current run the same 8 drawings have had sales of $197,976,072, a decrease of less than 3%.

Total sales (again, not including powerplay) for 2014 were $1,556,532,936, so a drop of 3% would mean just under $47 million. The single drawing sales of $650 million for the record MM, or almost 14 times as much as the possible annual decrease in normal sales. It's those occasional huge, and incredibly profitable, jackpots they're interested in. As long as they've still got suckers, er, players buying tickets for small jackpots to push it higher they're happy.

"States prefer to keep all of their sales profits rather than sending 63% of them to a multi-state lottery group.

The profit always goes to the state selling the tickets. The only money states send to other states is the money to pay for jackpots won in other states. If they didn't send that money to other states it would go to players in their own state. That means the only thing a state can possibly lose out on is a minor amount of state income tax they might have collected if money won in a different state had been won in their state. To some extent even that balances out. The small states that very rarely sell jackpot winners won't be getting much back from out-of-state players, but when a state like CA or NY sends money for a jackpot won in a different state they  can expect to get it back the next time they sell the winner.

    ressuccess's avatar - Lottery-043.jpg

    United States
    Member #93164
    June 23, 2010
    1322 Posts
    Offline
    Posted: December 5, 2015, 2:18 pm - IP Logged

    I think Power ball want small guaranteed jackpots to start as their base and then jump up and keep growing and growing until someone wins this big jackpot. The world record is $656 million set by Mega Millions shared by 3 Mega Millions Jackpot winning tickets. Power ball holds the single winning ticket in Florida at $590.5 million. blackjack26241, I think you should play more Mega Millions ($1 per draw) instead of Power ball ($2 per draw) from now on.

      HoLeeKau's avatar - YheaShea
      Idaho
      United States
      Member #94283
      July 17, 2010
      2284 Posts
      Offline
      Posted: December 5, 2015, 4:14 pm - IP Logged

      "they have ignored how the jackpots get to those levels in the first place ...  These players are the heart of the system."

      I'm sorry to burst your bubble, but the lotteries don't care about the players. All they care about is the bottom line. If piddling sales for most drawings are offset by a couple of really huge jackpots that will make them perfectly happy. For the last run before the October matrix change lottoreport shows sales (not including powerplay) of $203,461,232 for the 8 drawings from the starting jackpot to the one for $110 million. For the current run the same 8 drawings have had sales of $197,976,072, a decrease of less than 3%.

      Total sales (again, not including powerplay) for 2014 were $1,556,532,936, so a drop of 3% would mean just under $47 million. The single drawing sales of $650 million for the record MM, or almost 14 times as much as the possible annual decrease in normal sales. It's those occasional huge, and incredibly profitable, jackpots they're interested in. As long as they've still got suckers, er, players buying tickets for small jackpots to push it higher they're happy.

      "States prefer to keep all of their sales profits rather than sending 63% of them to a multi-state lottery group.

      The profit always goes to the state selling the tickets. The only money states send to other states is the money to pay for jackpots won in other states. If they didn't send that money to other states it would go to players in their own state. That means the only thing a state can possibly lose out on is a minor amount of state income tax they might have collected if money won in a different state had been won in their state. To some extent even that balances out. The small states that very rarely sell jackpot winners won't be getting much back from out-of-state players, but when a state like CA or NY sends money for a jackpot won in a different state they  can expect to get it back the next time they sell the winner.

      The profit always goes to the state selling the tickets. The only money states send to other states is the money to pay for jackpots won in other states.

       

      MUSL must get some too.  Anybody have any idea how much?  Apparently not enough to dissuade the Eddie Tiptons not to steal more.  LOL