- There have been more than 10 jackpots surpassing $1 billion since 2016
- Shop owners in New York City say customers no longer rush to buy tickets
- Experts say lotteries are more likely to roll over before someone wins the jackpot
Americans are less interested in a $1 billion Powerball drawing than they used to be – with only about half as many people flocking to buy tickets as they did a few years ago – according to experts and shop owners.
While seasoned lottery players and first-timers used to rush to buy a ticket if there was a 10-digit jackpot, they have become all too common.
‘It’s known as jackpot fatigue. People are less excited over a large prize than they used to be because those big numbers are old news,’ Victor Matheson, professor of economics at the College of the Holy Cross in Massachusetts, told The New York Post.
Tonight’s Powerball jackpot has skyrocketed to an estimated $1.3 billion after yet another drawing failed to produce a grand prize winner on Wednesday.
It is the fourth largest Powerball jackpot, and the eighth largest jackpot in US lottery history. But shop owners in New York City told the outlet it has failed to lure many non-regular ticket buyers.
Huge jackpots have become increasingly common in the Powerball and Mega Millions lottery drawings
‘They realize it’ll be a billion dollars over and over and over, three or four times a year, so you don’t have to come,’ said Gautam Das, a clerk at a BP Gas station in Queens, told The Post.
‘You can catch the next one… So no urgency, and no big deal.’
He said that ticket sales used to triple when the jackpot hit the $1 billion mark.
‘It’s not like before when people used to go crazy… They would come in and line up all the way out the station door,’ he said.
Huge jackpots have become increasingly common in the Powerball and Mega Millions lottery drawings due to changes to the games over the years and more expensive ticket prices.
There have been more than 10 jackpots which have surpassed $1 billion since 2016 – including four in 2023.
Last week, a lottery player struck the $1.12 billion Mega Millions jackpot in New Jersey.
Lotteries are more likely to hit the $1 billion mark than they were a few years ago because the system was rejiggered to create lower odds, Matheson told The Post.
A $1 hike in ticket prices and a spike in interest rates also makes the annuity – the winnings lotteries advertise – much higher than previously.
‘They’ve made it harder to win, so it’s more likely to roll over more times before someone wins,’ he said.
‘And with interest rates, you don’t need to accumulate as much to reach $1 billion.’
Only half the number of people are buying tickets nationally for $1 billion jackpots than they were in 2022, Matheson added.
There have been more than 10 jackpots which have surpassed $1 billion since 2016 – including four in 2023
People are less excited over a large prize than they used to be because those big numbers are old news, experts said
George Damoulakis, owner of Evers Pharmacy in Queens, told the outlet: ‘People still play but when it was over a billion dollars… people came in droves! There was a line of people out my door saying, “I never play but it’s so high. I got to, you know, I got to get in there.”‘
The largest ever Powerball jackpot, in November 2022, was advertised as $2.04 billion.
According to Powerball, the overall odds of winning a prize are 1 in 24.87, based on a $2 play. The odds of winning the grand prize are 1 in 292,201,338.
If there is a winner on Saturday, they can choose to take the prize as an annuity, or take an estimated $608.9 million lump sum.
The game involves players picking five main numbers between 1 and 69 and one ‘Powerball number’ between 1 and 26.
Read more
News Related
-
, Nov. 28 — One of the most anticipated Android releases for 2023 has been the Google Pixel 8 lineup. The Pixel series is often considered the best of what Android has to offer since it brings the true stock Android experience. The Pixel 8 Pro was globally released on ...
See Details:
Google Pixel 8 Pro Review: Is this the best Android phone of 2023?
-
A blank space or an (NR) indicates no readings received. An (e) indicates that the water level has been estimated. An (w) indicates that the conditions were very windy, resulting in an inaccurate reading. Omatjenne Dam does not have abstraction facilities. The dam contents are according to the latest dam ...
See Details:
Namwater Dam Bulletin on Monday 27 November 2023
-
Dhaka, Nov. 27 — Nobel laureate Dr Muhammad Yunus has been appointed chair of the international advisory board of Moscow’s Financial University (under the government of the Russian Federation). On November 23, he joined a high-level strategic meeting with Prof Stanislav Prokofiev, Rector of the Financial University, and his colleagues. ...
See Details:
Dr Yunus appointed chair of Moscow Financial University's international advisory board
-
In a pivotal encounter at the International Cricket Council (ICC) Twenty20 World Cup Africa Final Monday, the Cricket Cranes faced Nigeria, knowing that a win could significantly boost their chances of securing one of the coveted tickets to the 2024 T20 World Cup in West Indies and the USA.Nigeria won ...
See Details:
Victory over Nigeria puts Uganda on the brink
-
Capture 1 The Bank Ghana (BoG) Monetary Policy Committee (MPC) has maintained the key policy rate at 30 percent, while introducing additional liquidity management measures to address excess liquidity and reinforce the disinflation process. Announcing the committee’s decision on Monday following its 115th meeting, BoG Governor Dr. Ernest Addison said ...
See Details:
BoG holds policy rate at 30%, tightens liquidity measures
-
Renita Holmes has been displaced four times in the past three years by rising rents With sea levels rising around the globe, Miami, in the US state of Florida, is facing an urgent need to adapt. As property investors turn their gaze inland, away from the exclusive low-lying beach area, ...
See Details:
When sea levels rise, so does your rent
-
Picture2 In a groundbreaking moment, Mrs. Adelaide Siaw Agyepong, CEO-American International School, has achieved yet another milestone by being crowned ‘Icon of Inspiration and Impact for the Year 2023’. The crowning achievement took place in Accra, where Mrs. Siaw Agyepong surpassed contemporaries to clinch this prestigious title at the 5th ...
See Details:
American International School CEO honoured as ‘Icon of Inspiration and Impact’
-
Freetown’s streets were almost empty on Sunday after a curfew was imposed Gunmen in Sierra Leone attacked a military barracks and freed hundreds of prisoners in a “co-ordinated and properly planned” attack, the country’s information minister has said. Sierra Leoneans spent Sunday under a nationwide curfew amid disarray in capital ...
See Details:
Sierra Leone prison breaks co-ordinated - minister
-
Freetown’s streets were almost empty on Sunday after a curfew was imposed Gunmen in Sierra Leone attacked a military barracks and freed hundreds of prisoners in a “co-ordinated and properly planned” attack, the country’s information minister has said. Sierra Leoneans spent Sunday under a nationwide curfew amid disarray in capital ...
See Details:
Address the rise of single parenthood
-
Freetown’s streets were almost empty on Sunday after a curfew was imposed Gunmen in Sierra Leone attacked a military barracks and freed hundreds of prisoners in a “co-ordinated and properly planned” attack, the country’s information minister has said. Sierra Leoneans spent Sunday under a nationwide curfew amid disarray in capital ...
See Details:
Hyundai Chief Picked as Auto Industry Leader of the Year
-
Freetown’s streets were almost empty on Sunday after a curfew was imposed Gunmen in Sierra Leone attacked a military barracks and freed hundreds of prisoners in a “co-ordinated and properly planned” attack, the country’s information minister has said. Sierra Leoneans spent Sunday under a nationwide curfew amid disarray in capital ...
See Details:
Unmarried People Under 35 Outnumber Married Ones
-
Freetown’s streets were almost empty on Sunday after a curfew was imposed Gunmen in Sierra Leone attacked a military barracks and freed hundreds of prisoners in a “co-ordinated and properly planned” attack, the country’s information minister has said. Sierra Leoneans spent Sunday under a nationwide curfew amid disarray in capital ...
See Details:
European interior ministers in Hungary to discuss migration
-
Freetown’s streets were almost empty on Sunday after a curfew was imposed Gunmen in Sierra Leone attacked a military barracks and freed hundreds of prisoners in a “co-ordinated and properly planned” attack, the country’s information minister has said. Sierra Leoneans spent Sunday under a nationwide curfew amid disarray in capital ...
See Details:
Japan on the watch for unlicensed taxis around Narita airport amid foreign tourism spike
-
Freetown’s streets were almost empty on Sunday after a curfew was imposed Gunmen in Sierra Leone attacked a military barracks and freed hundreds of prisoners in a “co-ordinated and properly planned” attack, the country’s information minister has said. Sierra Leoneans spent Sunday under a nationwide curfew amid disarray in capital ...
See Details:
ECOWAS to send high-powered delegation on solidarity visit to Sierra Leone
OTHER NEWS
Despite doing education at the university, Mellon Kenyangi, also known as Mama Bear, did not think of going to class, and teaching students was her dream job.“Since it was not ...
Read more »
213 Sri Lanka Cricket’s Chairman of Selectors, Pramodya Wickramasinghe reported to the Sports Ministry’s Special Investigation Unit( SMSIU) for the Prevention of Sports Offences yesterday for the second day. He ...
Read more »
137 Malindu Dairy (Pvt) Ltd., a leading food production company in Sri Lanka, won the Silver Award in the medium-scale dairy and associated products category at the Industrial Excellence Awards ...
Read more »
Africans Urged to Invest Among themselves, Explore Investment Opportunities in Continent Addis Ababa, November 27/2023(ENA)-The Embassy of Angola in Ethiopia has organized lecture on the “Foreign Investment Opportunities in Angola ...
Read more »
144 The dynamic front row player Mohan Wimalaratne will lead the Police Sports Club Rugby team at the upcoming Nippon Paint Sri Lanka Rugby Major League XV-a-side Rugby Tournament scheduled ...
Read more »
Dozens of people living with disabilities from New Hope Inclusive in Entumbane, Bulawayo on Saturday last week received an early Christmas gift in the form of groceries. The groceries were ...
Read more »
The East African Community (EAC) Summit of Heads of State has admitted the Federal Republic of Somalia to the regional bloc, making it its 8th member country. The decision was ...
Read more »