Why Massive Jackpots are the New Norm

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Why Massive Jackpots are the New Norm

I remember watching the lottery as a child and dreaming of what I would do with 1 million. One million was a huge jackpot back then. Now we are hearing of massive jackpots, reaching in the billions, with some of the biggest jackpots coming from the US. The biggest jackpot to date was in January 2016 when three winners each from California, Florida, and Tennessee split a whopping $1 586 billion Powerball jackpot. The second place holder is a single winning ticket holder from South Carolina who won $1 537 billion Mega Millions jackpot in 2018 and took the lump sum payout of $878 million. A few days ago, the third largest jackpot of $768.4 million was won through Powerball by a still unknown winner in Wisconsin.

 

Lotto Jackpots are Reaching New Highs

Massive jackpots are all the rage right now and it’s a cleverly crafted plan by the lottery officials that allows the lotteries to pretty much market themselves. Before 2017, Mega Millions used to allow players to pick five numbers from 1 to 75 and a Mega number from 1 to 15. Back then the odds of winning a jackpot were 1 in about 258 million. As of 2017 Mega Millions tweaked the game by reducing the number of balls from 75 to 70 but increasing the Mega balls from 15 to 25. The odds of winning a jackpot are now 1 in about 302 million. It seems counterproductive to have changed it and made the odds worse but, it actually means that winners have an increased chance of winning smaller prizes up to $1 million yet it makes it harder to win the actual jackpot. This increase in odds to win the jackpot means that there are fewer winners but more roll-overs allowing for ballooning jackpots. This along with an increase in ticket prices – to $2 – helps fuel the jackpots which in turn help fuel the excitement over the lottery. It’s actually quite a clever plan and Mega Millions is not the only one to have switched up their game.

 

$1.6 billion dollar jackpot

Image from: Independent.ie

 

Lotto Jackpots Reach Billions

The increase in roll-overs means that jackpots are hitting as high as over $1 billion and sparking more people to play lottery. Those who don’t enter the lotto on a regular basis are more inclined to enter into the game if a massive jackpot is presented. This includes even the most sceptical players who might happen upon the jackpot amount in their local grocery store and think, “why not”. The state lottery commissions are seeing that simply by relying on basic human psychology and the spirit of optimism they can drive ticket sales and raise jackpots to previously unheard of amounts. The lottery, played in 44 states as well as the District of Columbia and the US Virgin Islands, seems to become a “cultural phenomenon” when jackpots start reaching between $200 million to $400 million. This means that when jackpots start hitting the half a billion mark, many of the lotteries don’t even need to advertise as the hype created by the people allows for free advertising.

 

It’s not all just about the lottery commissions cleverly changing their strategy, players are happier despite worse jackpot odds as many are able to win smaller prizes and those who do hit the jackpots are walking away with amounts which will last their lifetime, and sometimes for generations after that. Overall, it seems that both parties are happier and raised jackpots lead to more people feeling the optimism and hope of one day hitting that unbelievable prize.

 

If you’d like to try your hand at winning the lottery, whether it be the $1 million smaller prize or the dreamed-of billions, take a chance and enter online now.

 

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