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Powerball price doubling
Posted by: bad gambler ()
Date: January 01, 2012 02:54PM

For some reason the Powerball lottery folks have decided to double the price of their tickets, stating at the same time that this will "entice new players to play".

I would assume, without knowing much more than I've just typed, that they are going to be decreasing the number of numbers so the odds are better than 200,000,000::1 to entice those new players in.

I hesitated to buy my standard 5 sets of numbers with the Powerplay option before; I think my hesitation at double the price for same may be somewhat longer in length.

Why am I reminded of table games at Charles Town Racetrack?

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Re: Powerball price doubling
Posted by: its not changing ()
Date: January 01, 2012 04:11PM

They arent changing the game at all. There logic is that with the higher priced ticket that more people will play it since the jackpots will be bigger and there sales go crazy when the jackpot gets over 100 million ect. Itll probably work but they will lose some people who buy tickets when they find a dollar hanging around.

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Re: Powerball price doubling
Posted by: Les ()
Date: January 03, 2012 11:25AM

The number of Power Ball numbers to choose from will decrease from 39 to 35. That will raise the odds of winning from 1 in 192 million to 1 in 175 million.

http://heraldnews.suntimes.com/news/9772544-418/pricey-picks-powerball-tickets-doubling-to-2.html

Your probabilities will drop by almost half for the same amount of money spent.

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Re: Powerball price doubling
Posted by: More Complete ()
Date: January 03, 2012 01:58PM

....and your odds of winning will still suck. Great way to tax the stupid.

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Re: Powerball price doubling
Posted by: Olde Farte ()
Date: January 03, 2012 02:22PM

More Complete Wrote:
-------------------------------------------------------
> ....and your odds of winning will still suck.
> Great way to tax the stupid.

That is a false argument against any gambling - the thrill of the gamble IS the reward; winning is simply icing.

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Re: Powerball price doubling
Posted by: More Complete ()
Date: January 03, 2012 02:30PM

Olde Farte Wrote:
-------------------------------------------------------
> More Complete Wrote:
> --------------------------------------------------
> -----
> > ....and your odds of winning will still suck.
> > Great way to tax the stupid.
>
> That is a false argument against any gambling -
> the thrill of the gamble IS the reward; winning is
> simply icing.

Whatever you have to tell yourself. Most games in any casino have odds much better than 1 in 175 million, but odds are, you will still lose money. When you are at the gas station holding up the line buying your tickets, there are people behind you thinking you're an idiot. Just thought you should know.



Edited 1 time(s). Last edit at 01/03/2012 02:33PM by More Complete.

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Re: Powerball price doubling
Posted by: Les ()
Date: January 03, 2012 02:35PM

You would think that with the move to online gambling it'll facilitate more pooling of players to go after the big jackpots. Imagine going for a 300 million dollar jackpot where you can form a pool of 100 players betting $10 each. I understand they're going to authorize third-parties to sell tickets.

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Re: Powerball price doubling
Posted by: who cares ()
Date: January 03, 2012 02:36PM

More Complete Wrote:
-------------------------------------------------------
> Olde Farte Wrote:
> --------------------------------------------------
> -----
> > More Complete Wrote:
> >
> --------------------------------------------------
>
> > -----
> > > ....and your odds of winning will still suck.
> > > Great way to tax the stupid.
> >
> > That is a false argument against any gambling -
> > the thrill of the gamble IS the reward; winning
> is
> > simply icing.
>
> Whatever you have to tell yourself. Most games in
> any casino have odds much better than 1 in 175
> million, but odds are, you will still lose money.
> When you are at the gas station holding up the
> line buying your tickets, there are people behind
> you thinking you're an idiot. Just thought you
> should know.


Thats because at the casino theres no odds that allow you to turn two dollars into 100+ million on one win.

Who cares if people get tickets, if they arent going broke to buy them either the guy wins or the state and the schools get some money off them. Its not harming anyone. There is no gas station line if you use a credit card or speed pass anyway

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Re: Powerball price doubling
Posted by: TheMeeper ()
Date: January 03, 2012 02:43PM

> Most games in any casino have odds much better than 1 in 175 million odds are,

It'd be a fair bet if you were guaranteed a $175M payout (after taxes). But the pots are rarely that large, which gives them an ENORMOUS house advantage.

Now they're slightly increasing the odds of winning, but you gotta double your risk. I don't have time to do the math but it looks like the house edge on this game is getting even BIGGER with the reduced number of balls.

Best bet is to put 2 bucks in an envelope and mail them your money, it'll save you a trip to 7-11.

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Re: Powerball price doubling
Posted by: More Complete ()
Date: January 03, 2012 02:45PM

who cares Wrote:
-------------------------------------------------------
> Thats because at the casino theres no odds that
> allow you to turn two dollars into 100+ million on
> one win.
>
> Who cares if people get tickets, if they arent
> going broke to buy them either the guy wins or the
> state and the schools get some money off them.
> Its not harming anyone. There is no gas station
> line if you use a credit card or speed pass anyway

Didn't say I cared. In fact, I think it's a great way to tax stupid people. Not sure what you mean about the line, if you pay at the pump you wouldn't be in line anyway but at 7-11 or the gas station it's always someone playing lottery that ties up the lines.

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Re: Powerball price doubling
Posted by: Janz ()
Date: January 03, 2012 06:41PM

Since they have now decided to increase the price of one play by a dollar, they could start doing the right thing, by eliminating the Bisphenol-A chemical from their lottery tickets....

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Re: Powerball price doubling
Posted by: rich and famous ()
Date: January 03, 2012 06:57PM

What are you going to do with two dollars anyway, might as well throw it at the lottery. I stop at a 7-11 for coffee in a rather seedy location in Alexandria. The brothers always say give me a dollars worth of dreams when buying Powerball tickets. Makes sense to me.

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Re: Powerball price doubling
Posted by: shark fin ()
Date: January 03, 2012 07:01PM

bad gambler Wrote:
> Why am I reminded of table games at Charles Town
> Racetrack?


I do ok there. I play craps and buy in with four hundred bucks. When I get up a hundred I stop. Thats a 25% return for a few minutes work if you want to call it that. Its the people that think they can double their money or more that usually end up losing.

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Re: Powerball price doubling
Posted by: trogdor! ()
Date: January 03, 2012 07:32PM

More Complete Wrote:
-------------------------------------------------------
> ....and your odds of winning will still suck.
> Great way to tax the stupid.


Alcohol is the best way to tax the stupid.

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