12-10=2 MIL

Reply #9

Guest — Thu, 23 May 2002 10:55:40 GMT

Thanx Abe!Rob

Reply #7

Guest — Thu, 23 May 2002 10:55:15 GMT

Thanx Lionel!Rob

Reply #8

Abe — Thu, 23 May 2002 01:53:01 GMT

OK, here's the deal. The jackpot begins at a minimum *gauranteed* $10million and increases at a minimum *gauranteed* $2million. That's also exactly how Powerball is at the moment.That's their current policy. I'm not sure where you can dig this up.. but that's what it is. If the sales are unable to meet it they have reserve funds (taken from previous jackpots - a small percentage is allocated for this) to compensate.

Reply #6

Gamma Ray — Wed, 22 May 2002 23:25:36 GMT

They should forget what is the Big Game MM!!! Nobody like this. We want out Big Game back

Reply #5

Lionel — Wed, 22 May 2002 21:57:00 GMT

When a lottery sets a minimum jackpot level, they are able to do it with the use of a reserve fund. A small percentage of every ticket does into the reserve fund. In the Canadian national lotteries (Super 7 and Lotto 649) the reserve fund comes from 3% of every ticket sale. I suspect it is smaller for Mega Millions and Powerball because the jackpot is rarely won when it is at its minimum level.Since Mega Millions came from the Big Game, they probably simply transferred over the existing Big Game... [ More ]

Reply #4

MrHappy — Wed, 22 May 2002 21:04:14 GMT

I'm still predicting a slow first start just so they can build up a reserve. I just don't get how California's LottoPlus can go 7,10,13-14,17-19,......while Powerball goes 10,12,14,16-17,....even though it has (guessing) 2.5x more people in(or near) it's 22 current states. I'm predicting the MM will soon go 10,13-14,17-20,.... Just Ohio and New York alone has about the same amount of people that California state has. We will see. I'm predicting $14 mil next Tuesday if no winner.... [ More ]

Reply #3

CASH Only — Wed, 22 May 2002 19:05:10 GMT

Since Powerball began its current format in 1997, the jackpot has always started at 10 million with the first rollover going to 12 million. It usually goes to 14-16 before there are larger increases. I'm predicting a $17 million MM jackpot Tuesday if no winner Friday. Remember the eagerness of NY and OH players last week.

Reply #2

MrHappy — Wed, 22 May 2002 18:55:46 GMT

I think they didn't build the reserves that they needed too. Perhaps the 7 Biggame states didn't want to carry the 2 new MM states, and the 2 new MM states didn't want to throw out several mil into the MM reserve just to have someone win on the first draw causing them to have a negetive profit for that week. Politics. All nine states probably hoped the new MM would rollover several more times letting all 9 states contribute their fair share(of MM tickets sold per state). But because there was a... [ More ]

Reply #1

Guest — Wed, 22 May 2002 17:33:28 GMT

correction: Why are they spending 4/5 less on the following jackpot

12-10=2 MIL

Guest — Wed, 22 May 2002 17:32:12 GMT

Hi ... Let me try to re-word a previous post I made.Okay here goes ..........How can each new MM jackpot start out at 10 MIL yet the very following jackpot increase by only 2 Mil?Do the states each throw in a Mil to get things going or how is that 10 Mil accounted for?If it's the players who are responsible for the 10 Mil ... why are they spending a fifth less on tickets for the following jackpot?RobHoping to get some questions answered