Mega Millions will beef up its jackpots

  • Article by: BARBARA RODRIGUEZ , Associated Press
  • Updated: September 17, 2013 - 6:21 PM

Nation’s other big lottery plans to beef up its jackpots.

  • 3
  • Comments

  • Results per page:
  • 1 - 3 of 3
hittodeadSep. 17, 1310:08 PM

What's worse: sloppy reporting or sloppy quotes? Here's the first: “Certainly, we were looking at the fact that changes that Powerball made … definitely favorably impacted the jackpot,” said Paula Otto." Whaaaaat? Then: Otto said the move is based on extensive consumer research, but she acknowledges the success of Powerball when it increased its ticket prizes from $1 to $2. It's ticket PRICES, not PRIZES. Actually, I think they should come up with a $2 guaranteed PRIZE for a $2 ticket just to see how many people would buy it.

0
0
eddie55431Sep. 18, 1310:05 AM

Looking for a lottery ticket? Tell you what, I will sell you last week's losing ticket for half-price, and you will be money ahead. It only has 1/100,000,000th less chance of winning than today's ticket does, and you will save 50%! In the long run you would have more money in your pocket. The lottery is investing for people bad at math.

0
0
eddie55431Sep. 18, 1310:15 AM

But seriously, an article like this is nothing but a silly rewrite of a press release by the lottery. A good article would have explained HOW the changes the lottery makes to increase their jackpots affect the odds of winning that jackpot. If the cost of the ticket remains the same and they increase the average jackpot amount then it has to be either given away less often (worse odds of winning), or they have to take away some smaller winners (lower frequency of winning any prize), or reduce the amount of smaller prizes (lower effective return-to-player except to the jackpot winner). The math of the game is the math of the game and always has to add up to a profit for the state.

0
0
  • 1 - 3 of 3

Comment on this story   |  

ADVERTISEMENT

Connect with twitterConnect with facebookConnect with Google+Connect with PinterestConnect with PinterestConnect with RssfeedConnect with email newsletters

ADVERTISEMENT

ADVERTISEMENT

ADVERTISEMENT

ADVERTISEMENT

ADVERTISEMENT

ADVERTISEMENT