How does the POWERBALL lottery estimates its estimated jackpot?

Reply #3

KY Floyd — Tue, 30 Jun 2009 06:20:11 GMT

the starting jackpot comes from a reserve.

Occasionally that's true, but the starting jackpot isn't paid very often. Most of the time the jackpot rolls at least a few times before there is a winner, and by that time the jackpot prize pool is well above the minimum levels. For the first drawing or two sales won't cover the jackpot, but for the next few drawings part of the sales will be used to cover that shortfall instead of increasing the jackpot. Once the full jackpot is covered, all of th... [ More ]

Reply #2

Editgap — Fri, 26 Jun 2009 20:14:57 GMT

My educated guess would be that the starting jackpot comes from a reserve.

The estimated jackpots comes from experience, previous results etc ie at a jacpot level how many people will buy ticket and average number of tickets.

Reply #1

Todd — Fri, 26 Jun 2009 19:45:19 GMT

How does the POWERBALL lottery estimates its estimated jackpot?

BORGUSX — Fri, 26 Jun 2009 19:26:47 GMT

Well,I read that for example,if I were to buy a ticket for one drawing and its estimated jackpot is $20 million. The ticket that I brought for that drawing actually help to contribute to the estimated jackpot.

The reason is how does the POWERBALL lottery able to reset itself to an estimated jackpot of $20 million every single time,since before the new changes it was $15 million?

Since,the drawing after the initial drawing for the $20 million only goes up by $5-$15 million on average,so th... [ More ]