subject: preview on lotteries and Szerencsejatek [print this page] To lottery players, $100 million is not what it used to be.
A seven-month streak of jackpots that were big, but not gigantic, has sent traditional lottery sales plummeting in many states.
In the past six months, Mega Millions sales are down 30% in Texas compared with a year earlier and 38% in Massachusetts. Powerball sales are off 6% in Wisconsin.
The USA is suffering from "jackpot fatigue," lottery officials say.
"There was a time when $50 million created a stir. Then we needed $100 million," says Bobby Heith of the Texas Lottery. "Now even that's not good enough."
The two big multistate lottery games, Mega Millions and Powerball, are in a run of low jackpots. An exception: James Wilson, 84, a retired St. Louis electrician, and his wife, Shirley, 79, won a $254 million Powerball jackpot Jan. 24.
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Mega Millions had five jackpots above $200 million in the 12 months that ended June 30, including one for $315 million. The result: record sales of $1.5 billion.
Since then, Mega Millions has had no jackpots reach $200 million. Jackpots of $125 million and $163 million have stirred little excitement or coverage.
Lower jackpots occur by chance. More winning tickets have been drawn, so pots haven't risen for the next drawing. Current prizes:
$106 million for Mega Millions, sold in 13 states, including California, New York and Texas. (Odds of winning: 1 in 176 million.)
$46 million for Powerball, sold in 29 states, plus Washington, D.C. and the U.S. Virgin Islands (Odds of winning: 1 in 146 million.)
The advertised jackpot is the amount to be paid over 26 years for Mega Millions and 30 years for Powerball. Most winners pick an immediate payment, usually 33%-40% of the advertised prize, after taxes.
Despite struggles in traditional lotteries, most state lotteries are doing fine because of other games' popularity. Scratch-off tickets that sell for $10 and $20 and offer instant million-dollar prizes do well.
As a result, lottery revenue is flat or up slightly in most states.
Concerns about lottery sales have led some states to consider selling the games to private investors for billions of dollars.
preview on lotteries and Szerencsejatek
By: spiderma2011
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