Connecticut gaming officials are ready to approve changes to the Powerball lottery, including steeper odds and back-loaded jackpot payments, despite concerns raised last month by Gov. M. Jodi Rell.
Paul A. Young, executive director of the Division of Special Revenue, wrote to the governor late last week, saying that the alternative is for Connecticut not to participate in the multi-state lottery game.
Young also wrote that the changes, which already have been approved by the other participating states, still leave participants with astronomical odds against winning the jackpot.
And though the new rules also would delay the largest winning payments to the final decade in a 30-year schedule, more than 90 percent of Powerball winners opt not to receive their prize over the long term, choosing instead to forfeit a portion and take an immediate lump sum prize.
Currently, Powerball involves drawing five numbers from a pool of 53, and a sixth, or "Powerball" number, from a pool of 42. The odds against getting all six numbers and winning the jackpot are 120 million-to-1, Young wrote.
The new rules, which the division is expected to approve this week, would increase the first drawing pool from 53 to 55, raising the overall odds against winning the jackpot to 146 million-to-1.
"The chances of winning the grand prize have always been extremely low," Young wrote, calling this a minor change.
And though the other rule change might discourage some winners from waiting 30 years for their full prize, the new rules also call for the minimum jackpot prize to increase from $10 million to $15 million.
"In my view, such a change to the payout schedule appears to be of no benefit to winners," Rell wrote to Young last month. "In fact, Powerball winners would have to wait at least 20 years to receive sizable payouts. That's unfair, and makes a winner a loser."
But Young said the only alternatives, should Connecticut drop Powerball, are to participate in no multi-state game, or to join the Mega Millions, which would put Connecticut gamblers in a pool with those from New York, California, and other large states. The odds against winning that game's jackpot are 175 million-to-1, he wrote.
Rell wrote she also fears worsening the odds could produce higher jackpots more frequently, and in turn "entice more people to bet beyond their means."
Young responded, "There is no doubt that large grand prizes will attract more attention from the media and, therefore, the public. However, our belief is that consumers realize that their chances of winning the grand prize is a function of sheer luck and they will not dramatically alter their playing habits."
Too bad. Seems to me they'd be better served dropping out of Powerball and joining Euro Millions.
Jack
Too bad. Seems to me they'd be better served dropping out of Powerball and joining Euro Millions.
Jack
Now there's a novel idea!
Could they do that (dropping out of Powerball and joining Euro Millions)? Boy, that would stir the pot! There'd be hundreds of hours of enjoyment watching the flack!
Once again, the author is wrong about cash v annuity. Winners forfeit NOTHING by taking cash.
Connecticut is a part of "New England,", isn't it?
With the so-called "backloaded" annuity, you would have to be insane not to take the cash. Who would want to be in bed with this gang of con artists for 30 years? A 30 year annuity with unequal payments is way too long and just reeks of chicanery to falsely elevate the advertised jackpot.
Powerball knows that almost all people take the cash. That is why they don't mind doing the jackpot in increasing payments. They just want to be able to increase the advertised jackpots quicker and higher.
Brad
Petitions should be formed to stop this false advertising of jackpots. Lets wake up and do it how they do it in Canada or Europe. For the lotteries to pay back such miserable percentages and then have us pay nasty taxes on top of it is totally disgusting. Every game should be a lump sum game, and if that kills the state lotteries so be it. No one is playing state lotto anyway. Everyone is playing either multi state or scratch offs. Have a group of about 5-6 musl lottos and do away with state lotteries unless you are a big state like CA, TX, FL , or even NY. But enough of this tricanery.
I think it is funny that CT wants to leave the powerball since they just had a winner and their are still alot of states in powerball that have not won a jackpot in some time now. I think that they will stay in the powerball and go through the changes just like the rest of MUSL members will on the 29th.
Petitions should be formed to stop this false advertising of jackpots. Lets wake up and do it how they do it in Canada or Europe. For the lotteries to pay back such miserable percentages and then have us pay nasty taxes on top of it is totally disgusting. Every game should be a lump sum game, and if that kills the state lotteries so be it. No one is playing state lotto anyway. Everyone is playing either multi state or scratch offs. Have a group of about 5-6 musl lottos and do away with state lotteries unless you are a big state like CA, TX, FL , or even NY. But enough of this tricanery.
Another option might be to consider the alternatives available through the link Todd provided on the online lottery thread.
Petitions mightn't move the State Lottery officials and PBMM folks, but watching the dollars trickle away to Canada and Europe almost surely would.
Jack
So with the back loaded annuity did the percent change for the cash prize?
I'm happy to see CT keep PB in the game because they need to compete with MM. If CT had dropped PB, they could join MM or start their own lottery. Either way, CT made the right decision to stay in PB or go with MM with 176 million to 1 odds.
Once again, the author is wrong about cash v annuity. Winners forfeit NOTHING by taking cash.
I agree. These journalists who write these articles have no idea what they are talking about. They really need to educate themselves about cash vs. annuity. When you take the cash you are getting every cent the lottery commission starts out with if the annuity is chosen minus the taxes. When will these journalists ever learn?
When will these journalists ever learn?
Probably never. The younger ones were most likely educated in schools funded by lottery money.
Jack