Bigger MM and PB Jackpots.Prev Topic Next Topic

New Topic New Poll

Do you want bigger jackpots?

Bigger jackpots- Bigger matrix

[ 5 ]

[ 27.8% ]

Smaller jackpots- Smaller matrix

[ 12 ]

[ 66.7% ]

Keep it the way the it is.

[ 1 ]

[ 5.6% ]

Total valid votes

[ 18 ]

Discarded votes

[ 2 ]

grwurston

100

Same #'s. Different games.

United States
Member #90,247
April 24, 2010
13,820 Posts
Offline

Oct 29, 2017, 7:44 pm

Every time the Mega Millions and Power Ball increase the matrix to make it harder to win, it's because they say the players want bigger jackpots. But I have never seen any surveys saying this. So what do you want?

Do you want bigger matrix's in order to have bigger jackpots and fewer jackpot winners or,

Do you want smaller matrix's in order to have smaller jackpots and more frequent jackpot winners or,

Should they keep it the way it is now.
noise-gate

* In hot pursuit of $ *

White Shores- California
United States
Member #136,471
December 12, 2012
7,039 Posts
Online

Oct 29, 2017, 7:57 pm

Quote: Originally posted by grwurston on Oct 29, 2017
Every time the Mega Millions and Power Ball increase the matrix to make it harder to win, it's because they say the players want bigger jackpots. But I have never seen any surveys saying this. So what do you want?

Do you want bigger matrix's in order to have bigger jackpots and fewer jackpot winners or,

Do you want smaller matrix's in order to have smaller jackpots and more frequent jackpot winners or,

Should they keep it the way it is now.

You right G, everytime they change it, it DOES make it more difficult to win. I can understand if there has been a glut of recent winner's, where the jackpots refuse to climb over $100 mil. But to just decide to change it simply because...that all wrong. Where is the survey, how about "transparency"- how about " We throwing this out there, to the playing public to see how you folks feel, about the changes we hope to implement?" Do we have your support? What say ye?

* Voice of Reason *

* People who say it cannot be done should not interrupt those who are doing it- George Bernard Shaw.
Ron5995

Wyomissing, PA
United States
Member #161,043
November 15, 2014
481 Posts
Offline

Oct 29, 2017, 10:44 pm

Bigger MM and PB jackpots drive sales. That's evident from the various sales reports lotteries, such as Texas, publicly post. However, many players aren't excited about $15 million or whatever anymore; jackpot fatigue.

Doubling the price makes up for less sales during jackpot run ups; higher starting jackpot. While making the odds worse allows for more rollovers.

Super-sized jackpots bring out players in droves. While that doesn't occur often, even if it's just once or twice per year, that can be the difference between beating sales expectations and falling short...

According to the Pennsylvania Lottery Profit Report for 2016-2017, the lack of a record breaking Powerball jackpot during that period resulted in a $130 million drop in Powerball sales from the previous fiscal year. That's just for one lottery. The drop in sales across all participating lotteries was many times that.

https://www.palottery.state.pa.us/PaLotteryWebSite/media/Annual-Reports/Lottery-Profit-Report-FY1617.pdf (see page 4)

Powerball jackpot, despite starting at $40 million annuity, struggles to grow at the current $2 price-point. This past draw saw a $12 million annuity (~$7 million cash) rollover. At that rate, it's going to be a couple of months before it breaks $250 million annuity, assuming it's not hit before then. Jackpot rollovers even at $100+ million annuity are small. The last time Powerball was hit, the previous rollover prior was roughly $18 million annuity (~11 million cash). That's anemic. Most players just aren't interested.

Personally, I feel lotteries are going the wrong way with PB and MM. As the odds get worse, players become more frustrated and move on to other games; some stop playing lottery entirely.

Fortunately, there are various alternatives for players seeking multimillion dollar jackpots with less crazy odds. Various regional games along with in-state numbers and high denomination instant tickets.

Most players, in particular regulars, know that PB and MM is primarily for those seeking record breaking jackpots with out of this world odds. So retooling those games to be cheaper and/or easier is likely not in the cards.

In short, lotteries believe bigger is better when it comes to PB and MM. Don't be surprised to see Powerball $3 base play ($5 with Powerplay) being floated in the near future.
Kingofearth

Israel
Member #174,649
May 5, 2016
1,100 Posts
Offline

Oct 29, 2017, 10:46 pm

Quote: Originally posted by grwurston on Oct 29, 2017
Every time the Mega Millions and Power Ball increase the matrix to make it harder to win, it's because they say the players want bigger jackpots. But I have never seen any surveys saying this. So what do you want?

Do you want bigger matrix's in order to have bigger jackpots and fewer jackpot winners or,

Do you want smaller matrix's in order to have smaller jackpots and more frequent jackpot winners or,

Should they keep it the way it is now.

The most accurate survey of all time is money.

New York State for example "only" got $280 Million in sales from Mega Millions last year
http://www.lohud.com/story/news/politics/politics-on-the-hudson/2017/04/24/mega-millions-ticket-increase-2/100855882/

People weren't buying enough so they came up with a solution that they think will work. If the money survey results come back negative, i'm sure they go 180 on the changes. But considering most of these changes have already occurred on PB with positive results, i doubt they'll be displeased.

🏳️‍⚧️🏳️‍⚧️🏳️‍⚧️🏳️‍⚧️🏳️‍⚧️🏳️‍⚧️

Trans Rights are Human Rights.
Stack47

Kentucky
United States
Member #32,651
February 14, 2006
10,302 Posts
Offline

Oct 29, 2017, 11:12 pm

Quote: Originally posted by noise-gate on Oct 29, 2017
You right G, everytime they change it, it DOES make it more difficult to win. I can understand if there has been a glut of recent winner's, where the jackpots refuse to climb over $100 mil. But to just decide to change it simply because...that all wrong. Where is the survey, how about "transparency"- how about " We throwing this out there, to the playing public to see how you folks feel, about the changes we hope to implement?" Do we have your support? What say ye?

Now that the two "big" games are basically equal, even the every drawing players might play the game with the largest jackpot. And that's why I believe the powers-to-be changed MM to match PB; double the number of ticket buying frenzies.

With about a 96% chance of winning nothing in both games, will players still spend $8 a week on four tickets a week?
grwurston

100

Same #'s. Different games.

United States
Member #90,247
April 24, 2010
13,820 Posts
Offline

Oct 29, 2017, 11:59 pm

Quote: Originally posted by Stack47 on Oct 29, 2017
Now that the two "big" games are basically equal, even the every drawing players might play the game with the largest jackpot. And that's why I believe the powers-to-be changed MM to match PB; double the number of ticket buying frenzies.

With about a 96% chance of winning nothing in both games, will players still spend $8 a week on four tickets a week?

Back when we only had the Big Game here in Md.,I used to buy $5 worth on both drawings. Then it was still $1 a line.

Buying 5 lines a drawing now would be $40 a week even without the Mega-Plier or Power Play options. Most players are not going to spend that much a week on games with such crazy odds any more, if any ever did.

Maybe eventually the lotteries will realize that they are pricing themselves out of the market and decrease the matrix, which will improve the odds enough that maybe players will start playing regularly again instead of just when the jackpots are huge.

But if they really want to sell more tickets they will have to drop the price back to $1 also. Because the way it is now, people feel like they're just wasting their money because they know they're not going to win anything.

But the chances of them doing all that is probably as good as me winning a jackpot. (Sigh)
noise-gate

* In hot pursuit of $ *

White Shores- California
United States
Member #136,471
December 12, 2012
7,039 Posts
Online

Oct 30, 2017, 5:18 pm

Quote: Originally posted by Stack47 on Oct 29, 2017
Now that the two "big" games are basically equal, even the every drawing players might play the game with the largest jackpot. And that's why I believe the powers-to-be changed MM to match PB; double the number of ticket buying frenzies.

With about a 96% chance of winning nothing in both games, will players still spend $8 a week on four tickets a week?

Still only going to purchase One MM & One PB ticket. Total cost : $4.00.

I look at it as " letting the dollars circulate." Or as the local Sikh clerk loves to say " it's Ocean money." When l asked him why he uses that expression he said, it's similar to tossing coins in a fountain.You throw it in & don't look back.But in both cases, you wishing for something. He's right.

* Voice of Reason *

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

New York
United States
Member #156,863
July 2, 2014
109 Posts
Offline

Oct 30, 2017, 9:32 pm

Quote: Originally posted by Ron5995 on Oct 29, 2017
Bigger MM and PB jackpots drive sales. That's evident from the various sales reports lotteries, such as Texas, publicly post. However, many players aren't excited about $15 million or whatever anymore; jackpot fatigue.

Doubling the price makes up for less sales during jackpot run ups; higher starting jackpot. While making the odds worse allows for more rollovers.

Super-sized jackpots bring out players in droves. While that doesn't occur often, even if it's just once or twice per year, that can be the difference between beating sales expectations and falling short...

According to the Pennsylvania Lottery Profit Report for 2016-2017, the lack of a record breaking Powerball jackpot during that period resulted in a $130 million drop in Powerball sales from the previous fiscal year. That's just for one lottery. The drop in sales across all participating lotteries was many times that.

https://www.palottery.state.pa.us/PaLotteryWebSite/media/Annual-Reports/Lottery-Profit-Report-FY1617.pdf (see page 4)

Powerball jackpot, despite starting at $40 million annuity, struggles to grow at the current $2 price-point. This past draw saw a $12 million annuity (~$7 million cash) rollover. At that rate, it's going to be a couple of months before it breaks $250 million annuity, assuming it's not hit before then. Jackpot rollovers even at $100+ million annuity are small. The last time Powerball was hit, the previous rollover prior was roughly $18 million annuity (~11 million cash). That's anemic. Most players just aren't interested.

Personally, I feel lotteries are going the wrong way with PB and MM. As the odds get worse, players become more frustrated and move on to other games; some stop playing lottery entirely.

Fortunately, there are various alternatives for players seeking multimillion dollar jackpots with less crazy odds. Various regional games along with in-state numbers and high denomination instant tickets.

Most players, in particular regulars, know that PB and MM is primarily for those seeking record breaking jackpots with out of this world odds. So retooling those games to be cheaper and/or easier is likely not in the cards.

In short, lotteries believe bigger is better when it comes to PB and MM. Don't be surprised to see Powerball $3 base play ($5 with Powerplay) being floated in the near future.

I had the same thinking before but after carefully checking Powerball sales data, I can tell you the sales tripled for the last 5 years
Lotto Zero

United States
Member #184,625
September 20, 2017
19 Posts
Offline

Oct 30, 2017, 10:01 pm

Quote: Originally posted by noise-gate on Oct 30, 2017
Still only going to purchase One MM & One PB ticket. Total cost : $4.00.

I look at it as " letting the dollars circulate." Or as the local Sikh clerk loves to say " it's Ocean money." When l asked him why he uses that expression he said, it's similar to tossing coins in a fountain.You throw it in & don't look back.But in both cases, you wishing for something. He's right.

I never thought about it that way, but when I do play, I will only purchase one of each as well.
noise-gate

* In hot pursuit of $ *

White Shores- California
United States
Member #136,471
December 12, 2012
7,039 Posts
Online

Oct 30, 2017, 11:23 pm

Quote: Originally posted by Lotto Zero on Oct 30, 2017
I never thought about it that way, but when I do play, I will only purchase one of each as well.

Just remember LZ, if you win- throw some of that Ocean Money my way..

* Voice of Reason *

* People who say it cannot be done should not interrupt those who are doing it- George Bernard Shaw.
Rexer90

LA Ca.
United States
Member #172,743
February 3, 2016
189 Posts
Offline

Oct 31, 2017, 11:45 pm

Same principal when California etc raises taxes to cover expenses... more people move away so they end up collecting less tax dollars.... so they raise the taxes again causing more people to move away.. so they end up collecting less tax dollars.. so they raise the taxes....
KY Floyd

NY
United States
Member #23,834
October 16, 2005
4,772 Posts
Offline

Nov 1, 2017, 2:20 am

"But I have never seen any surveys saying this."

You must not have looked very hard. MM does surveys every Tuesday and Friday, and PB does surveys every Wednesday and Saturday and the results conclusively show that bigger jackpots are a lot more popular.
Teddi

United States
Member #142,493
May 13, 2013
1,394 Posts
Offline

Nov 1, 2017, 6:47 am

Quote: Originally posted by grwurston on Oct 29, 2017
Every time the Mega Millions and Power Ball increase the matrix to make it harder to win, it's because they say the players want bigger jackpots. But I have never seen any surveys saying this. So what do you want?

Do you want bigger matrix's in order to have bigger jackpots and fewer jackpot winners or,

Do you want smaller matrix's in order to have smaller jackpots and more frequent jackpot winners or,

Should they keep it the way it is now.

I'm not seeing why they would even need to conduct a survey when every sales report makes this fact clear. Look at the games that have smaller but more frequent jackpots. Sales are between sluggish and dismal so that some have even had to be terminated. Americans speak with their wallets. Their wallets say that they are willing to spend billions for just the chance at an almost unattainable jackpot, but they are not willing to spend the same for a better chance of winning a smaller jackpot. State lotteries show the same. Every year you can see the financial reports of the indisputable fact that huge jackpots are responsible for huge numbers of ticket purchases. When was the last time you saw people waiting in block-long lines for a $20 million jackpot?
Kingofearth

Israel
Member #174,649
May 5, 2016
1,100 Posts
Offline

Nov 1, 2017, 1:32 pm

Quote: Originally posted by Teddi on Nov 1, 2017
I'm not seeing why they would even need to conduct a survey when every sales report makes this fact clear. Look at the games that have smaller but more frequent jackpots. Sales are between sluggish and dismal so that some have even had to be terminated. Americans speak with their wallets. Their wallets say that they are willing to spend billions for just the chance at an almost unattainable jackpot, but they are not willing to spend the same for a better chance of winning a smaller jackpot. State lotteries show the same. Every year you can see the financial reports of the indisputable fact that huge jackpots are responsible for huge numbers of ticket purchases. When was the last time you saw people waiting in block-long lines for a $20 million jackpot?

"When was the last time you saw people waiting in block-long lines for a $20 million jackpot?"

When? 1850? 1700? What ancient time period was $20 Million considered a large jackpot?

🏳️‍⚧️🏳️‍⚧️🏳️‍⚧️🏳️‍⚧️🏳️‍⚧️🏳️‍⚧️

Trans Rights are Human Rights.
Rexer90

LA Ca.
United States
Member #172,743
February 3, 2016
189 Posts
Offline

Nov 1, 2017, 1:55 pm

Latest PB rollover: $40M to $52M

Latest MM rollover: $40M to $48M

So $8M, same as the rollover from $37M to $45M back in April..... so much for the bigger rollovers...

New Topic New Poll

Subscribe to this topic

Bigger MM and PB Jackpots.Prev TopicNext Topic

Bigger MM and PB Jackpots.Prev Topic Next Topic