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
Safety, Situational Awareness and proficiency.
Neck Ties, Hats and ammo brass, Never ,ever touch'em w/o asking first
April 09, 2020, 02:34 PM
jhe888
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.
The fish is mute, expressionless. The fish doesn't think because the fish knows everything.
April 09, 2020, 02:39 PM
Oz_Shadow
Sounds like they are selling fewer tickets and want to avoid a loss if someone wins on the first round.
April 09, 2020, 02:50 PM
Woodman
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.
April 09, 2020, 02:53 PM
bendable
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
Safety, Situational Awareness and proficiency.
Neck Ties, Hats and ammo brass, Never ,ever touch'em w/o asking first
April 09, 2020, 03:13 PM
LS1 GTO
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.
Life moves pretty fast. If you don't stop and look around once in a while, you could miss it.
"If dogs don't go to Heaven, I want to go where they go" Will Rogers
The definition of the words we used, carry a meaning of their own...
April 09, 2020, 03:50 PM
k5blazer
How come they didn’t drop the price to $1.00?
April 09, 2020, 03:54 PM
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.
"Some things are apparent. Where government moves in, community retreats, civil society disintegrates and our ability to control our own destiny atrophies. The result is: families under siege; war in the streets; unapologetic expropriation of property; the precipitous decline of the rule of law; the rapid rise of corruption; the loss of civility and the triumph of deceit. The result is a debased, debauched culture which finds moral depravity entertaining and virtue contemptible." -- Justice Janice Rogers Brown
"The United States government is the largest criminal enterprise on earth." -rduckwor
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.
Jesse
Sic Semper Tyrannis
April 09, 2020, 06:29 PM
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.
Safety, Situational Awareness and proficiency.
Neck Ties, Hats and ammo brass, Never ,ever touch'em w/o asking first
April 09, 2020, 07:13 PM
ZSMICHAEL
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.
April 09, 2020, 10:34 PM
Excam_Man
quote:
Originally posted by Skins2881:
I do buy when the numbers get up to $400-500m.
Because 20 Mil isn't enough!
April 09, 2020, 10:36 PM
Sailor1911
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!
Place your clothes and weapons where you can find them in the dark.
“If in winning a race, you lose the respect of your fellow competitors, then you have won nothing” - Paul Elvstrom "The Great Dane" 1928 - 2016
April 10, 2020, 05:38 AM
arfmel
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.
April 10, 2020, 05:42 AM
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.
April 10, 2020, 05:44 AM
Blume9mm
Government lottery is the biggest scam ever created... you pay a tax when you buy the ticket and then guess what when you win?
My Native American Name: "Runs with Scissors"
April 10, 2020, 05:55 AM
bendable
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,
Safety, Situational Awareness and proficiency.
Neck Ties, Hats and ammo brass, Never ,ever touch'em w/o asking first
April 10, 2020, 06:58 AM
Woodman
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?
April 10, 2020, 07:05 AM
bendable
Latest winner bought a ticket in New Jersey, woo hoo!
Safety, Situational Awareness and proficiency.
Neck Ties, Hats and ammo brass, Never ,ever touch'em w/o asking first
