Instead of starting the lottery at $40 mill,
when someone wins, they are now starting at $20 mill.

Am just guessing but am wondering if they will go back and change the odds of winning, in about 7 months to get sales back up

quote:

Originally posted by bendable:
Instead of starting the lottery at $40 mill,
when someone wins, they are now starting at $20 mill.

Am just guessing but am wondering if they will go back and change the odds of winning, in about 7 months to get sales back up

They can't change the odds of winning unless they change the number of numbers that must be guessed correctly, or constrain the possible choices to a smaller set.

The odds of that kind of a lottery are constrained by mathematics, unlike a slot machine, which can be tweaked.

Sounds like they are selling fewer tickets and want to avoid a loss if someone wins on the first round.

Yeah, well, that is someone else's problem now. I'm done D-O-N-E with that game. Got the last big jackpot, 'Jersey ticket by chance. Just my luck, right? Lightening doesn't strike twice, know what I'm sayin'? No more PB for me. I'll have a PB&J and a glass of milk and watch the drawings, for fun, on the box, but no more actual buying of the tickets. The next guy has to be content with a $20M seed and $2M increases per drawing.

quote:

They can't change the odds of winning unless they change the number of numbers

they could do that,

they changed them a while back to decrease the chances, by adding a number

quote:

Originally posted by Oz_Shadow:
Sounds like they are selling fewer tickets and want to avoid a loss if someone wins on the first round.

Which was why they raised the initial starting point to $40M.

How come they didn’t drop the price to $1.00?

quote:

Very low power ball lottery sales means changes

The lottery is a tax on the poor.

Players lose an average of 47 cents on the dollar each time they buy a ticket. And it's those who can least afford to lose any money who are most likely to be buying tickets ...
Thus the lottery acts like an implicit 38% tax on mainly the poorest people.

It's a sucker bet anyway.
Tax on stupidity.

quote:

Originally posted by chellim1:

quote:

Very low power ball lottery sales means changes

The lottery is a tax on the poor.

Players lose an average of 47 cents on the dollar each time they buy a ticket. And it's those who can least afford to lose any money who are most likely to be buying tickets ...
Thus the lottery acts like an implicit 38% tax on mainly the poorest people.

So far I've lost 100¢ on the dollar spent. Even if I win $2, $5, or $10, guess what I buy. Another ticket or two.

I do buy when the numbers get up to $400-500m.

quote:

Originally posted by 220-9er:
It's a sucker bet anyway.
Tax on stupidity.

. Thanks for your tid bit of brilliance and for taking the time . Now how about shitting on someone's thread who really really cares if you live another day.

I do not know the answer, but I bet casino executives have a clue since they deal with this sort of mathematical problem on a daily basis. For the gaming commission there are specific rules and regulations that must be followed for all games of chance. I would imagine the Lottery Commission has something similar in their regulations.

quote:

Originally posted by Skins2881:

I do buy when the numbers get up to $400-500m.

Because 20 Mil isn't enough!

quote:

Originally posted by 220-9er:
It's a sucker bet anyway.
Tax on stupidity.

That sums it up!

Never have won. But, never bought a ticket either, so never lost. Think I'm money ahead.

It's always been a good gig for the mob!

quote:

Originally posted by bendable:

quote:

Originally posted by 220-9er:
It's a sucker bet anyway.
Tax on stupidity.

. Thanks for your tid bit of brilliance and for taking the time . Now how about shitting on someone's thread who really really cares if you live another day.

Somebody needs a nap.

I remember when Illinois started their lottery they touted how it was going to slash property taxes. HAHAHAHA. What a joke. Now Illinois is so broke if you win they give you an IOU.

Government lottery is the biggest scam ever created... you pay a tax when you buy the ticket and then guess what when you win?

You have never received an email from a desperate African king who is down on their luck ?


"Somebody needs a nap." By Arfmel,

More like less nap, after reading a dozen of his posts , he seems like an o.k. sort. Hard to figure why he did that b.s., perhaps it's quarantine or the sick relative.

I see it now, he gets himself all worked up in the superbug thread and he had to vent, we'll let it go this time , and chaulk it up to a superbug side effect.

This message has been edited. Last edited by: bendable,

quote:

Originally posted by kramden:
I remember when Illinois started their lottery they touted how it was going to slash property taxes. HAHAHAHA. What a joke. Now Illinois is so broke if you win they give you an IOU.

During my cross-country drives caring for a friend in the SW, I NEVER bought a PB ticket in Illinois. The word is "good luck getting paid by Illinois Lottery; the funds had been borrowed by another department."

As far as buying tickets, like I constantly tell a friend who buys five Cash5 tickets and three PB tickes with his cigs and beer, "Your odds are never better when you buy only one ticket, More than that and your ROI drops precipitously."

More info from Woodman:

MegaMillions is following PB in limiting growth and reducing starting jackpot.

Also:

Only a small number of states allow winners of the Powerball or Mega Millions jackpots to remain anonymous. Those are:

Delaware
Kansas
Maryland
North Dakota
Ohio
South Carolina
Texas

There are also a few states that allow winners to remain anonymous if they win over a certain amount of money. Those states are:

Arizona ($100k+)
Georgia
Virginia

Personally, I like buying lottery tickets. For the cost of a pack of smokes or a six pack, I can buy a 7-day daily draw ticket. As I get older, guess which of those three is the only remaining vice?

Latest winner bought a ticket in New Jersey, woo hoo!