Powerball

I like the way you think.

 

Now we're getting somewhere.

 

Interesting article. Players only play if the jackpot is big.

Now we've got a huge jackpot that will make all others look small.

Powerball sales were down 19% last year.

 

But what players probably don’t know was that lottery officials made Powerball harder to win last fall in order to drive up ever-more-spectacular jackpots, shore up state revenue, and save Powerball itself.

As a result, lottery officials will have to deal with a record-shattering, era-defining jackpot of their own making — one that has some observers worrying whether the bar has now been set too high.

“My suspicion is that no one anticipated the Powerball rule changes would generate this big of a jackpot this soon, and I wouldn’t be surprised if there were some buyer’s remorse out there,” said Andrew Sidamon-Eristoff, who stepped down as New Jersey’s state treasurer last year.

 

The other thing that happened was Powerball going to $2 tickets while MegaMillions stayed at $1. Unless there is a big disparity in the payouts, I throw my money away on MM as there are twice as many chances.

 

A few years ago a $200M plus ticket was sold at the grocery store that I found myself at THREE times that day it was sold. I didn't kick myself because I didn't buy any tickets for that particular one but I smile at the randomness.

 

It's funny when it comes to stuff like that because they never report the time at which the ticket was sold, which is far more important to the outcome than the location.

 

If it could be narrowed down, it'd be interesting to talk to the clerk who sold it and get their thoughts on the idea of having a $200 million piece of paper pass through their hands without even knowing it.

 

Interesting take. But the writer doesn't seem to account for inflation. That $22.6M annuity today is worth a lot more than it will be 30 years from now. Assuming you properly invest and manage your $422M lump sum net payment, wouldn't you end up making more over the next 30 years than taking that $678M spread out over 30 years?

 

Bigpern, I think the author's whole point was that if you're the sort of person who plays the lottery, you are not likely to be a good manager of your own money.

 

I read that, too, and had the same question. My first investments upon winning would be the best lawyer and investment advisor I can find.